dale560 Posted January 2 Posted January 2 The final rate has come out and as we had soybeans this year we get a cool 30.88. Too bad we didn’t have rice. Just kidding to rice farmers. 1 Quote
cedar farm Posted January 2 Posted January 2 Up until 3-4 years ago I had 25 acres of oats every year. Wow. 81.75 per acre Quote
Chester5732 Posted January 2 Posted January 2 I just did the math. Will almost cover my property taxes if your use the amount before paying income tax on it. Thanks Donald. I prefer decent prices and more reasonable inputs over this program. 5 Quote
dale560 Posted January 2 Author Posted January 2 8 hours ago, cedar farm said: Up until 3-4 years ago I had 25 acres of oats every year. Wow. 81.75 per acre Yes oats is off the wall crazy isn’t it. Who knows how they figure this. What people are not saying is with the other bill that got signed the payment arc or the other p one are figured differently so that the difference. I for one am happy with the bridge payment. We made some money off the crop and this is just a bit more profit. 1 Quote
acem Posted January 2 Posted January 2 Rice and cotton are way upside down with current input costs and crop prices. I expect both will have major acreage reductions next year regardless of payments. Probably go into beans and corn. Quote
Big Bud guy Posted January 2 Posted January 2 So what’s the cap on the payments?? I’m too lazy to look it up. I wonder if they pay you on all eligible crops or just the one that nets you the most. We would qualify for 4 of them. Quote
dale560 Posted January 2 Author Posted January 2 24 minutes ago, Big Bud guy said: So what’s the cap on the payments?? I’m too lazy to look it up. I wonder if they pay you on all eligible crops or just the one that nets you the most. We would qualify for 4 of them. 150,000 per operator. I don’t know how the spouse and other things like partnerships and corporations work. But each one would be eligible. 1 Quote
Farmall1066 Posted January 2 Posted January 2 2 hours ago, Chester5732 said: Thanks Donald. I prefer decent prices and more reasonable inputs over this program. Every administration gives us handouts, I for one wish every FSA office would disappear, and government would do the same. Since I have an operating loan through the bank, they require crop insurance, I pay premiums every year and get nothing in return. Even if I have a claim my APH or coverage level doesn’t help me whatsoever. Far as I’m concerned the bank should cover 1/2 if not 2/3rds of the cost of the crop insurance, it doesn’t help me, and every year I pay off the operating line with crop sales. So this program is just another welfare handout to keep us in the poor house unless you farm minimal acres with no debt, or farm over 3000 acres. I live in MN and the amount of fraud being exposed, with my acres l’ll receive around $10k, but with our taxed to death state I’m sure most of that will go to a Somalian daycare center through income tax channels. 10 1 Quote
cedar farm Posted January 2 Posted January 2 33 minutes ago, Farmall1066 said: Every administration gives us handouts, I for one wish every FSA office would disappear, and government would do the same. Since I have an operating loan through the bank, they require crop insurance, I pay premiums every year and get nothing in return. Even if I have a claim my APH or coverage level doesn’t help me whatsoever. Far as I’m concerned the bank should cover 1/2 if not 2/3rds of the cost of the crop insurance, it doesn’t help me, and every year I pay off the operating line with crop sales. So this program is just another welfare handout to keep us in the poor house unless you farm minimal acres with no debt, or farm over 3000 acres. I live in MN and the amount of fraud being exposed, with my acres l’ll receive around $10k, but with our taxed to death state I’m sure most of that will go to a Somalian daycare center through income tax channels. Amen! One thing we can be grateful for is that fuel is less than it was in the last regime. And we have an administration that is going after fraud. A lot of people in St Paul need to see bars. I farm in NW Iowa just a stones throw from both MN and SD. I have relatives who farm by Worthington and Hills MN. They wish they could somehow move their farms south or west to a different state. 4 Quote
IH Forever Posted January 2 Posted January 2 Please don't take this as any indication of my political leaning. I just saw it in a market commentary I receive and that it was funny. Quote
cobfly Posted January 2 Posted January 2 15 minutes ago, IH Forever said: Please don't take this as any indication of my political leaning. I just saw it in a market commentary I receive and that it was funny. Wonder what you'll get with a red hat? 2 Quote
dale560 Posted January 2 Author Posted January 2 3 hours ago, Farmall1066 said: Every administration gives us handouts, I for one wish every FSA office would disappear, and government would do the same. Since I have an operating loan through the bank, they require crop insurance, I pay premiums every year and get nothing in return. Even if I have a claim my APH or coverage level doesn’t help me whatsoever. Far as I’m concerned the bank should cover 1/2 if not 2/3rds of the cost of the crop insurance, it doesn’t help me, and every year I pay off the operating line with crop sales. So this program is just another welfare handout to keep us in the poor house unless you farm minimal acres with no debt, or farm over 3000 acres. I live in MN and the amount of fraud being exposed, with my acres l’ll receive around $10k, but with our taxed to death state I’m sure most of that will go to a Somalian daycare center through income tax channels. About 5 years ago or more they had an article in one of the area wide ag magazines about a 60 year old farmer by Jamestown or valley city ND. He was quoted as he didn’t buy crop insurance but his kids that were farming did. His reasoning was land and operating was his own money and the 30 or 40 dollar an acre premium at that time for corn was better set aside in a savings plan for himself and not to federal crop insurance. In his case I would agree if I had money I would do the same. 5 Quote
cjf711 Posted January 2 Posted January 2 With this years drought the crop insurance is a critical piece for us. I dont think I will make it to the point where I will ever farm with my own money and land. Ill be in my mid 70's if i can keep making payments on the home farm to get it paid off. The variability in financial position of farmers is really extreme. I often wonder what I even am as looking at this program Im obviously not a "farmer" Seems like all this money does is prop up the guys who are trying to push me out. Im not angry about it, I always wanted to farm a bunch like they are, but, it just doesnt work out for everyone to do what they want. Im sure lots of us wanted to play ball, or something else too and didnt get the chance or got hurt. 3 Quote
766 Man Posted January 2 Posted January 2 2 hours ago, dale560 said: About 5 years ago or more they had an article in one of the area wide ag magazines about a 60 year old farmer by Jamestown or valley city ND. He was quoted as he didn’t buy crop insurance but his kids that were farming did. His reasoning was land and operating was his own money and the 30 or 40 dollar an acre premium at that time for corn was better set aside in a savings plan for himself and not to federal crop insurance. In his case I would agree if I had money I would do the same. There are farmers around here who self-insure. Usually high value crops on highly productive ground. I remember one such farmer from around 30 years ago he could cover a hard loss from three years worth of revenue. He normally got his three years and a little bit more so he saved himself an expense and put the savings to work in other parts of his operation. Kind of a cold winter day here but sunny but reminded me of the time dad and I stopped to see him. He was in a shed self grading red kidney beans to take a minimal hit on deduction for cracked and split beans. Always a worker and working intelligently. Quote
Drysleeves Posted January 2 Posted January 2 5 hours ago, Farmall1066 said: Every administration gives us handouts, I for one wish every FSA office would disappear, and government would do the same. Since I have an operating loan through the bank, they require crop insurance, I pay premiums every year and get nothing in return. Even if I have a claim my APH or coverage level doesn’t help me whatsoever. Far as I’m concerned the bank should cover 1/2 if not 2/3rds of the cost of the crop insurance, it doesn’t help me, and every year I pay off the operating line with crop sales. So this program is just another welfare handout to keep us in the poor house unless you farm minimal acres with no debt, or farm over 3000 acres. I live in MN and the amount of fraud being exposed, with my acres l’ll receive around $10k, but with our taxed to death state I’m sure most of that will go to a Somalian daycare center through income tax channels. Yields are mandatorily reported and become public knowledge. ABC grain cartel can easily harvest the data and mitigate their price discovery cost. Hamsters on a wheel.... 2 Quote
Chester5732 Posted January 2 Posted January 2 1 hour ago, Drysleeves said: Yields are mandatorily reported and become public knowledge. ABC grain cartel can easily harvest the data and mitigate their price discovery cost. Hamsters on a wheel.... Yup. They make it easy for the paper traders and manipulators. Quote
cobfly Posted January 2 Posted January 2 4 hours ago, cobfly said: Wonder what you'll get with a red hat? Maybe they'll feel sorry for you because you cannot afford a green machine, or the upkeep. 2 Quote
Chester5732 Posted January 2 Posted January 2 1 hour ago, cobfly said: Maybe they'll feel sorry for you because you cannot afford a green machine, or the upkeep. Oliver’s are relatively inexpensive. At least around here. Quote
IH Forever Posted January 3 Posted January 3 7 hours ago, dale560 said: About 5 years ago or more they had an article in one of the area wide ag magazines about a 60 year old farmer by Jamestown or valley city ND. He was quoted as he didn’t buy crop insurance but his kids that were farming did. His reasoning was land and operating was his own money and the 30 or 40 dollar an acre premium at that time for corn was better set aside in a savings plan for himself and not to federal crop insurance. In his case I would agree if I had money I would do the same. I’m sure you all realize crop insurance is highly subsidized by the government. That coverage would be much more expensive if the tax payer wasn’t picking up part of the bill. 3 Quote
dale560 Posted January 3 Author Posted January 3 7 minutes ago, IH Forever said: I’m sure you all realize crop insurance is highly subsidized by the government. That coverage would be much more expensive if the tax payer wasn’t picking up part of the bill. Yes it subsidized but as everything with government when they revamped it the agent or agencies became really lucrative. That is why every large lending institution had their own agency and pushes you to purchase from them. Used to be around 20% commission on policies. When government revamped in the 1990s coverage got a bit better but agents got rich. 1 Quote
Drysleeves Posted January 3 Posted January 3 1 hour ago, IH Forever said: I’m sure you all realize crop insurance is highly subsidized by the government. That coverage would be much more expensive if the tax payer wasn’t picking up part of the bill. It would be less expensive if operated without subsidies. 1 hour ago, dale560 said: Yes it subsidized but as everything with government when they revamped it the agent or agencies became really lucrative. That is why every large lending institution had their own agency and pushes you to purchase from them. Used to be around 20% commission on policies. When government revamped in the 1990s coverage got a bit better but agents got rich. It's a total racket which is why everyone wants to peddle it. Shooting fish in a barrel. 1 1 Quote
TroyDairy Posted January 3 Posted January 3 More $ for the big Ag corps is how i see it honestly. Just gonna pass though farmers hands and Big Suppliers have 0 signal/reason to lower prices 3 1 Quote
Drysleeves Posted January 3 Posted January 3 2 minutes ago, TroyDairy said: More $ for the big Ag corps is how i see it honestly. Just gonna pass though farmers hands and Big Suppliers have 0 signal/reason to lower prices Exactly the same aspect as the subsidized education racket. Every dime of subsidy is matched with a corresponding increase in cost of the "product". 3 1 Quote
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