Given the late spring for many areas in the US and Canada, many of you are likely to face some interesting rotation/insurance decisions. This includes the decision to take Prevented Planting.
As you know, here are very few certainties in farming.
But there’s one thing we’re certain of……your farm is different than your neighbors’!
Every farm has different land costs, equipment payments, yield variability, insurability, and the list goes on-and-on.
Given that, you need to be doing this what/if analysis for your farm with your specific numbers. Instead of making gut-feel or back-of-the-napkin decisions, you should be analyzing the bottom line impact of rotation/insurance decisions on your farm. Most importantly, you need to understand how your fixed costs impact your bottom line numbers.
We made a quick video today showing how I would think about comparing, for example, corn vs. prevented planting.
This type of analysis is where a tool like Harvest Profit’s farm management software enables you to approach these decisions from a numbers-based, unemotional point of view.
Grain marketing is hard! Volatile commodity markets lead to frustration, greed, and indecision. Today's farmer needs to work hard to find a risk management system that allows them to make less emotional, and more profitable, grain marketing decisions.Read More »