Clay SEIA - 2/21/2024 22:43
Tank2516 - 2/21/2024 23:18 It’s hard to feel sorry for anybody not being able to payback last years operating loan with the prices that corn and beans have been the last couple of years. Even if you have to much unpriced 2023 inventory the previous years should be carrying you so you can pay the loan off. BTW I have way more unpriced inventory than I should.
Disclaimer, I am highly displeased with myself with 2023 inventory. It's hard to see a reason why it wasn't good enough to sell everything when I picked up the phone to sell anything. But "previous years should be carrying you" would like me to ask, how many six-figure crop insurance claims did YOU have from 2017-2022? Did you have $4.60 forward contracted 2021 corn and a terrible crop? I did. Did you sell a bunch more right off the combine because there was zero carry, only to watch it rocket up a few weeks later? I did. Did you have $4.87 forward contracted 2022 corn
(before 2021 crop was planted
) and still an insurance claim? I did. Did you have a horrible drought that only covered about four counties in 2017, while people 50 miles north or south had record corn crops? I did. Prevented plant 2019? Well, it was better than some of the 60-80 bushel corn I did plant and now have to carry on APH for those farms going forward...
Guess my sympathies are with people who had legitimate production problems, and no sympathies for people who might be in a pinch because they outbid the neighbors rent by $100 and traded tractors for $200,000 each and are driving around in a $70,000 pickup thinking about how unfair life is. Rant over.
So Met With The Banker Again
