Decision #3 Does the machinery “fit” the operation ? (not too big or too little) Do the custom rate charges reflect the costs of the machinery? Are there some machinery costs that can be re-evaluated (field operations)?
Tenants’ Residual http://www.extension.iastate.edu/agdm/wholefarm/xls/c2-20croplandcashrent.xls Computing a Cropland Cash Rental Rate
Decision #5 Determine the right insurance product to meet your risk management needs. Make sure you have enough insurance, but are not “over-insured”. –Look at what the insurance product does compared to the farm marketing plan.
Risk Management Web Sites Ag Decision Maker – ISU Extension Economics www.extension.iastate.edu/agdm Farm Doc – U of IL Extension Economics www.farmdoc.uiuc.edu Center for Farm Financial Management – U of MN www.cffm.umn.edu
ISU Crop Marketing Web Sites Corn and Soybean Basis (State and County) www.card.iastate.edu/ag_risk_tools Ag Econ Periodicals, Publications and Programs www.econ.iastate.edu/outreach/agriculture/ Ag Decision Maker (Crop Updates/ Publications Decision Tools) http://www.extension.iastate.edu/agdm
Questions….. Any questions or comments? Thank You for This Opportunity! Craig A. Chase Farm Management Field Specialist 115 9 th Street NE Oelwein, IA 50662 (319) 238-2997 firstname.lastname@example.org