Thursday, December 4, 2014
I Have To Get Tougher
Losing money farming is not unusual but when you've really never lost at this game before, it can wake you up. It woke me up.
What I did wrong is I planted one farm to corn and never priced it. At planting, I never dreamed corn would go to $3 but it did. I was distracted for sure but that's no excuse. Either you are farming for profit or you are not. I farm for profit but I let my guard down.
I got complacent, money was fairly easy to make farming the past ten years, at least for me. Everything I spent returned a dividend. This year it did not.
We made our most money on soft red winter wheat this year and you know how poor that market has been. I have a lot of interest in our excellent non GMO soybean seed so it may make up some of the difference. Our loss is in corn and even if I had priced it early, I would not quite made back what we invested in it.
Even if I hadn't planted corn or gambled and sold my production before planting, I would not have broken even. Inputs were just too high priced this year for the returns. This is with really good yields, too.
It is impossible to show a profit for corn for 2015 also. I wonder how much that will affected planted acres. It really doesn't matter what you plant next year, nothing is very promising.
I hope this all turns around for the young guys because we need them.
No one can work for a loss very long, though.