Problem Years Have a Long Tail

Reviewing the financial records from this past year indicates the net worth declined for many grain farmers. “I’d hate to say working capital is decimated, but it is decimated,” explained Jason Fewell, farm management instructor, North Dakota. “Markets were against everybody this year with a lot of production problems in spots, most of my guys were disappointed in soybean yields and it is all trickling down into 2024 not being a good year.” A poor year follows farmers for a long time. “If there is a lot of refinancing, you’re dealing with that for a long time. Cash flows are difficult to put together this year. Fewell spoke at the Advance Crop Advisors meeting in Grand Forks.