Strong commodity prices are helping this year, but Wells Fargo Chief Agricultural Economist Michael Swanson reminds farmers to be planning ahead to 2023. “They have the ability to sell ahead when they’re buying inputs,” says Swanson. The four biggest expenditures for farms are cash rent, seed, nutrients and equipment. “As you think about 2023, you’re asking yourself what’s my rent, seed, fertilizer and what equipment expenses do I have? If you take care of those four things reasonably well, you’ll make money in agriculture.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.