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Recent banking stress already includes reduced lending from commercial and community banks. With deposits being drawn down, it will be difficult for banks to lend aggressively in this environment, creating a significant headwind to economic growth.
Most of you keep a close eye on your crops during the growing season.
You at least drive by your fields to make sure the water is running, and
many will change the water during the day as well as check the overall
condition of the crop. Do you do the same with the markets?
My fear is that if we as ag producers don’t understand (or worse yet
don’t pay attention to) these financial tools of cash position, budgets
or profit and loss statements, and balance sheets, we may have marginal
business managers of ag production in the decade of 2020 and beyond
struggle unnecessarily.
Dispute resolution – need help with that? Whether the dispute is with the USDA, a family member or community group, this program was designed to be reasonable, helpful and avoid lawsuits.
Can we really use historical data, or is it too uselessly skewed? How are farmers supposed to watch for marketing opportunities with all the fluctuations?
"I love preparing financial statements for my banker," said no farmer or rancher ever. It's more like, "Pass the Novocain, please." Here's an article to help you with that.
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