Minnesota Farmers Face Tough Year
Crop farmers are generally in a tough position this year due to prices and yields for some in Minnesota. “We had quite a bit of grain that sat in the bins from January to August and took quite a spill…
Articles tagged under: Farm Business Management
A Financial Drain
Going into 2025, working capital and balance sheets will be tight. “This 2024 crop may drain a lot of farmers' working capital,” says Ben Olander, a farm business management instructor with Central Lakes College. “I think yield will hopefully balance…
What a Difference a Year Makes
Those differences can be seen as farmers close out the books for 2023. "If we just look year-over-year, it was tax planning to no end last year and what are we going to do with the profitability and how do we…
Fall Financial Planning Strategies
Northland Community College Farm Business Management Instructor Betsy Jensen has seen farmers shy away from pre-paying for inputs this fall. Increased interest rates are causing producers to be more hesitant. “Most companies have not increased their pre-payment discount,” said Jensen.…
Year-End Tax Strategies
This is the time to analyze where you sit for the 2023 business year and evaluate finances ahead of tax season. Farm Business Management Instructor Ron Dvergsten says buying equipment can be a good strategy if you can save a…
70 Years for Farm Business Management in Minnesota
The Minnesota Farm Business Management program is celebrating its 70th anniversary. AgCentric Executive Director Keith Olander says the numbers have changed dramatically over that time. "If you just go back to 1956 when the original state report came out, there were…
Positive Cash Flows
In an early look at cash flows for 2023, the farm financial situation still looks positive. With current price projections and normal yields, Minnesota Farm Business Management instructor Josh Tjosass is cautiously optimistic. "For most farms that aren't highly leveraged, that…
MN FBM Adds Two Instructors
Minnesota's Farm Business Management Program has added two new instructors, Narayan Dhakal and Erik Heimark. Dhakal is originally from Nepal and completed his graduate studies at the University of Minnesota. Dhakal will focus on urban agriculture in the seven-county metro…
Minnesota’s Farm Business Management Program Completes ’20 Report
Nearly 2,300 farms are represented in the database. These farms spent an average of just under $1 million in their local communities. Direct crop inputs were the biggest expense category, totaling $185,000. Minnesota farmers enjoyed the highest net farm income…
A Positive Farm Financial Situation in 2020
Most farmers are ending the year in better financial shape than they did in 2019. Farm Business Management instructor Josh Tjosaas, based at Moorhead, says there has been a lot of healing for the balance sheet. "We've seen some improvement…
