As soybean futures plunge, farmer says tariffs have 'devastated' the industry

[racinfarmer]

44 minutes ago, Woodtick said:

Our family farm was sold to the highest bidder. We hired a lawyer not a realtor to handle the sale. The developers were beating down the door before my Dads funeral. The land was share cropped with a actual family that farms, hand shake deal from 1965 to 2005. No farmer could afford the prices the developers were willing to pay. Maybe we should have donated it to some kid in a lifted coal roller that dreams of being a farmer? 

Fairly common.  Mom and dad quit farming and none of the kids come home to farm.  They sell the equipment and sell the land to retire on.  Dad kicks over, mom moves to down and the kids sell the farm or become absentee landowners.  

37 minutes ago, GGNHL said:

Problem is even if you give farmland to someone there isn't a guarantee they'll be successful, and most farmers can't a ford to give their land away anyways cause that's their only source of retirement income if the kids don't want to take over and give them a paycheck tIL they croak

Even if the land is given to them, the equipment and operating costs will eat them up really quick in the current ag economy.  

32 minutes ago, favoritos said:

I would hate to be starting out right now.  There is no way it is possible.  It doesn't look like things will improve anytime soon.  Crop outputs look like they will be extremely strong this year.  Factor in the markets.  Losing money on a lot of bushels is still losing money.  Operating loan rates certainly are not going to help next year.  We are going to see quite a few not weather this storm.  The ripple is going to go a lot deeper than individual farmers.

Check back on this topic in a year.  Plop down some of the headlines you see then.  It will not be tough to see who actually understands what is building right now.

It will be interesting to see how operations of all sizes survive the next couple years.  I have a feeling that there are a couple who are or will be so deep in they'll be "too big to fail" for some banks.  

7 minutes ago, Woodtick said:

You have to plant at least a 1000 acres around here to be profitable. Most own a few hundred acres and rent or share crop the rest. Most tillable acrage around here gets snatched up by investors or developers, then rented out to a farmer. A 1500 Track was just sold down the road from me to a investment group. It’s now rented to a sod company. No farmer can afford 15k to 50k a acre. The ROI isn’t there. Lots of Veggie and nursery type of operations are popping up. It’s probably easier to turn a profit with only a few hundred acres?

Even 5k an acre is a hard pill to swallow for many.  

I still can't quite figure out a investor paying 10-15-20k/acre, then turning around and renting it back for $300/acre and making it a worthwhile investment, even if you have that kind of cash just laying around.  

Every now and then, we also get the joy of someone from the city coming out to buy an 80 and they'll show us all how to farm local and organic.  Usually they aren't there 5 years later.  Our neighbor's quarter is on its 4th or 5th owner in the last 15 years.  They were all going to show us what the market demands.

[Rigid1]

6 minutes ago, racinfarmer said:

Fairly common.  Mom and dad quit farming and none of the kids come home to farm.  They sell the equipment and sell the land to retire on.  Dad kicks over, mom moves to down and the kids sell the farm or become absentee landowners.  

Even if the land is given to them, the equipment and operating costs will eat them up really quick in the current ag economy.  

It will be interesting to see how operations of all sizes survive the next couple years.  I have a feeling that there are a couple who are or will be so deep in they'll be "too big to fail" for some banks.  

Even 5k an acre is a hard pill to swallow for many.  

I still can't quite figure out a investor paying 10-15-20k/acre, then turning around and renting it back for $300/acre and making it a worthwhile investment, even if you have that kind of cash just laying around.  

Every now and then, we also get the joy of someone from the city coming out to buy an 80 and they'll show us all how to farm local and organic.  Usually they aren't there 5 years later.  Our neighbor's quarter is on its 4th or 5th owner in the last 15 years.  They were all going to show us what the market demands.

Other than a few hiccups from the usual douche bag, I'm finding this thread pretty damn interesting..

How many acres is your place RF? 

Have you/your family been in the farming industry for generations?

Some of my accounts are also AG dealers, was at a customer that had a  brand new New Holland out front for sale, Huge tractor, 4 separate tracks about 6' tall, articulated in the center,..muffler was almost as big as a 55 gallon drum, air filter was a 15 gallon drum!! was bad as fuck,..told me it was 550K!?

[racinfarmer]

1 minute ago, Rigid1 said:

Other than a few hiccups from the usual douche bag, I'm finding this thread pretty damn interesting..

How many acres is your place RF? 

Have you/your family been in the farming industry for generations?

Some of my accounts are also AG dealers, was at a customer that had a  brand new New Holland out front for sale, Huge tractor, 4 separate tracks about 6' tall, articulated in the center,..muffler was almost as big as a 55 gallon drum, air filter was a 15 gallon drum!! was bad as fuck,..told me it was 550K!?

Due to not renewing leases, we are down to around 9,300 acres that we farm.  Been farming for 150 years where we are now, add another 15 or 20 since my family came to America and farmed in another state.

He must have one of the New Holland version of the Quadtracs.  Those are nice machines, but they are all nice these days.  

[Woodtick]

20 minutes ago, racinfarmer said:

Fairly common.  Mom and dad quit farming and none of the kids come home to farm.  They sell the equipment and sell the land to retire on.  Dad kicks over, mom moves to down and the kids sell the farm or become absentee landowners.  

Even if the land is given to them, the equipment and operating costs will eat them up really quick in the current ag economy.  

It will be interesting to see how operations of all sizes survive the next couple years.  I have a feeling that there are a couple who are or will be so deep in they'll be "too big to fail" for some banks.  

Even 5k an acre is a hard pill to swallow for many.  

I still can't quite figure out a investor paying 10-15-20k/acre, then turning around and renting it back for $300/acre and making it a worthwhile investment, even if you have that kind of cash just laying around.  

Every now and then, we also get the joy of someone from the city coming out to buy an 80 and they'll show us all how to farm local and organic.  Usually they aren't there 5 years later.  Our neighbor's quarter is on its 4th or 5th owner in the last 15 years.  They were all going to show us what the market demands.

Investors are playing the market in hopes of selling it to a developer 5 to 10 years down the road. I’m right on the edge of the concrete jungle and rich black topsoil.

[Rigid1]

3 minutes ago, racinfarmer said:

Due to not renewing leases, we are down to around 9,300 acres that we farm.  Been farming for 150 years where we are now, add another 15 or 20 since my family came to America and farmed in another state.

He must have one of the New Holland version of the Quadtracs.  Those are nice machines, but they are all nice these days.  

Awesome man, 9300 acres!! Damn!

Do you just plant crops? Or do you also raise livestock?

[racinfarmer]

46 minutes ago, Rigid1 said:

Awesome man, 9300 acres!! Damn!

Do you just plant crops? Or do you also raise livestock?

Mostly crop farm.  We do have some beef and youngstock Holsteins too, but not as many as we used to and we don't pull tits anymore either.  

Edited August 12, 2018 by racinfarmer

[NaturallyAspirated]

2 hours ago, f7ben said:

Damn....look at Neal's chart. Tariffs have nothing to do with bean prices. Weird 

Not my chart there genius.

And they most certainly do, you are being willfully ignorant.

Neal

Edited August 12, 2018 by NaturallyAspirated

[f7ben]

9 minutes ago, NaturallyAspirated said:

Not my chart there genius.

And they most certainly do, you are being willfully ignorant.

Neal

Hey dude....beans plummeted well prior to the tariffs coming into play....sorry

[SnowRider]

5 hours ago, Jimmy Snacks said:

You are a lying sack of shit. 

Dude .....I’ve known farmers ,y whole life and am personal friends with dozens.  Every one of them knows how I feel.  So STFU and take your Tourette’s somewhere else   

[Rigid1]

Just now, SnowRider said:

Dude .....I’ve known farmers ,y whole life and am personal friends with dozens.  Every one of them knows how I feel.  So STFU and take your Tourette’s somewhere else   

Troll

[SnowRider]

3 minutes ago, Rigid1 said:

Troll

 

[Rod]

6 minutes ago, SnowRider said:

Dude .....I’ve known farmers ,y whole life and am personal friends with dozens.  Every one of them knows how I feel.  So STFU and take your Tourette’s somewhere else   

 you’d get beat up every time there BoyRider 

[Jimmy Snacks]

13 minutes ago, SnowRider said:

Dude .....I’ve known farmers ,y whole life and am personal friends with dozens.  Every one of them knows how I feel.  So STFU and take your Tourette’s somewhere else   

More lies and even if you know one farmer you didn't call him a welfare fuck.

Edited August 12, 2018 by Jimmy Snacks

[Rigid1]

22 minutes ago, SnowRider said:

 

Troll

[racinfarmer]

1 hour ago, f7ben said:

Hey dude....beans plummeted well prior to the tariffs coming into play....sorry

They did drop around the time the tariff talk started too, but not as drastic as other times.  If you'd shorten that chart up to 3 months, 6 months, or a year; it'll make the prices look like they took a major nosedive.

[steve from amherst]

4 minutes ago, racinfarmer said:

They did drop around the time the tariff talk started too, but not as drastic as other times.  If you'd shorten that chart up to 3 months, 6 months, or a year; it'll make the prices look like they took a major nosedive.

What caused the big drop in 2014?

[f7ben]

35 minutes ago, racinfarmer said:

They did drop around the time the tariff talk started too, but not as drastic as other times.  If you'd shorten that chart up to 3 months, 6 months, or a year; it'll make the prices look like they took a major nosedive.

I know....but a 20% move while a little painful isn't a major event in pricing of most commodities. 

It's a political football for mindless hacks 

[GGNHL]

2 hours ago, SnowRider said:

Dude .....I’ve known farmers ,y whole life and am personal friends with dozens.  Every one of them knows how I feel.  So STFU and take your Tourette’s somewhere else   

There's no way youre friends with dozens of people, let alone farmers, quit trolling, your bait is weak.

Edited August 12, 2018 by GGNHL

[GGNHL]

Not so Fun fact, Wisconsin is losing 50-75 dairy farms per month due to a downturn in dairy that started in 2015, was that trumps fault too?

Edited August 12, 2018 by GGNHL

[NaturallyAspirated]

3 hours ago, f7ben said:

Hey dude....beans plummeted well prior to the tariffs coming into play....sorry

Beans have dropped 20% since the tariff talk.  Do you bother to pay attention, sweet fuck...

Neal

[NaturallyAspirated]

1 hour ago, f7ben said:

I know....but a 20% move while a little painful isn't a major event in pricing of most commodities. 

It's a political football for mindless hacks 

So a 20% dip in steel in a couple months would be no big deal to you?  Fucking loopy.

Neal

[NaturallyAspirated]

16 minutes ago, GGNHL said:

Not so Fun fact, Wisconsin is losing 50-75 dairy farms per month due to a downturn in dairy that started in 2015, was that trumps fault too?

He ain't bothering to help them is he?

Neal

[f7ben]

4 minutes ago, NaturallyAspirated said:

So a 20% dip in steel in a couple months would be no big deal to you?  Fucking loopy.

Neal

No you fucking retarded faggot....it wouldn't be. Steel went from 1000 per ton to 400 during Obama's tenure and it was 100% because of illegal dumping 

That's a big deal....20%

fucking cry

[NaturallyAspirated]

Just now, f7ben said:

No you fucking retarded faggot....it wouldn't be. Steel went from 1000 per ton to 400 during Obama's tenure and it was 100% because of illegal dumping 

That's a big deal....20%

fucking cry

And they are still dumping thank God!  Common Chinaman steel!

Neal

[GGNHL]

12 minutes ago, NaturallyAspirated said:

He ain't bothering to help them is he?

Neal

Unless we do a national dairy buyout like the 80’s where we kill a few million cows or we implement a quota system there's no amount of fed dollars that are gonna help. The Co-ops are starting to talk about some sort of quota system, basically if you took away 2% of the supply prices would correct themselves in a year due to normal demand growth.