Northland Community and Technical College Farm Business Management Instructor Josh Tjosaas says the Red River Valley has double the net farm income compared to one year ago, but it’s not a rosy picture for everyone. “There are farms that had crops left in the field to begin the year and there were lower yields on the new crop. There were moisture issues. In fact, 2020 itself wasn’t a great year for some farms. If you look at it on a crop basis, a couple of crops we analyze will show a negative net return, including soybeans. What farmers actually sold them for at harvest or the end of the year, wasn’t enough to pay for all expenses.” To keep moving forward, rebuilding and growing working capital is the game plan in 2021. Hear the story.
