Current crop year inputs paid in full from previous year? - Page 2 - The Combine Forum
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post #11 of 18 (permalink) Old 03-19-2019, 11:53 PM Thread Starter
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Kevlar. Your 100% right. Thatís something I never would considered or ever thought about. Great point

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post #12 of 18 (permalink) Old 03-20-2019, 12:04 AM
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It's a cycle for me, just as I am positioned to have all the inputs paid for, I seem to get a bad crop that year, sucking me back into the operating loan cycle.
That's the one really bad thing about this gig, you can do everything right, but still get the rug pulled out from ya.

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post #13 of 18 (permalink) Old 03-20-2019, 12:36 AM
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Originally Posted by Trailerairsupply View Post
Thanks for responses guys, I really appreciate hearing some real answers, Iím not a coffee shop or elevator type person but it really can make a person feel down when you pass through and just hear modern day success stories.(mostly semi retired farmers farming 100-400 acres with the same equipment there dads left them in the 60s/ the other half being young guys like me telling stories to try compete and fit in with the retired guys) I grow crops to the best of my ability, expand in manageable size portions, and upgrade to used affordable but dependable equipment, just couldnít figure out why I seem like the only one not making massive progression and paying a year ahead. Itís just a question that a guy can never ask locals and get a straight answer from, or be Frowned on for asking such a personal/invasive question.
* nothing against the semi retired guys either lol. A lot of them have done very very well for themselves, with very little risk. Something that I really admire and am honestly a bit jealous of
My theory is ďdonít go to the coffee shop or elevatorĒ .send your wife to pick up the cheque. Work your ass off for about 40 years, one year at a time. After about 40 years you will be able to pay next years expenses with last years crop! Been there, no problem it works
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post #14 of 18 (permalink) Old 03-20-2019, 01:13 AM Thread Starter
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No dust. Good answer, Iím always in and out as fast as possible. Lol. I really can sometimes feel my iq dropping every second I am trapped in the elevator or gas station haha I have no issue at all with putting my time and effort in over decades to accomplish this goal. Was just very curious to what some people real world experiences were in this.
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post #15 of 18 (permalink) Old 03-20-2019, 12:41 PM
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the only way I have heard that working is when you take last years grain checks and pay for this years imputs. Then ask for forgiveness from your banker. Oh, and don't be surprised if they put your name on the auction list after you do it!! In my neck of the woods last time I heard someone say that they paid all of next years expenses with last years money was when corn was $7 and soybeans was $15. That same farmer later said he wishes he would have held on to that cash. The next year he refinanced what he couldn't pay back.
Funny, I don't recall talking to you?
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post #16 of 18 (permalink) Old 03-20-2019, 07:40 PM
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If they aren't putting your equipment on a sale bill you're doin ok...

when I do hang out at the elevators rarely does finances come up. Just some ribbing back n forth and what products are working and what the kids are up to ect.
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post #17 of 18 (permalink) Old 03-20-2019, 09:03 PM
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No worries Trailer
It takes a while to get to the position where you can pay for next years crop inputs in the previous tax year.
For a lot of years now I buy fertilizer in December for next year.
I would rather pay cash for inputs and save the borrowing for land purchases or possibly a needed piece of machinery, more long term debt items.
I used cash advance at the start when I had no money but around the time the canola growers started doing the administration I quit that.
Working hauling grain and get no money because the advance needed to be paid sucks.
If interest rates were to climb significantly I definitely would be using cash advance.
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post #18 of 18 (permalink) Old 03-20-2019, 10:27 PM
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Originally Posted by Trailerairsupply View Post
Thanks for responses guys, I really appreciate hearing some real answers, Iím not a coffee shop or elevator type person but it really can make a person feel down when you pass through and just hear modern day success stories.(mostly semi retired farmers farming 100-400 acres with the same equipment there dads left them in the 60s/ the other half being young guys like me telling stories to try compete and fit in with the retired guys) I grow crops to the best of my ability, expand in manageable size portions, and upgrade to used affordable but dependable equipment, just couldnít figure out why I seem like the only one not making massive progression and paying a year ahead. Itís just a question that a guy can never ask locals and get a straight answer from, or be Frowned on for asking such a personal/invasive question.
* nothing against the semi retired guys either lol. A lot of them have done very very well for themselves, with very little risk. Something that I really admire and am honestly a bit jealous of
Take everything you hear at the elevator or coffee shop (or anywhere else farmers congregate) with the same seriousness as you would a politicians promises during an election. Consider it entertainment and nothing more.
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