Farm Management Tour: July 17, 2024

Learn about innovative farm management strategies, new technologies for improving efficiency and productivity, ways to ensure a successful transition of farm operations to the next generation. Join us at the 91st annual Purdue Farm Management Tour and reception honoring the 2024 Indiana Master Farmers in Randolph County (Winchester), Indiana on Wednesday, July 17th.

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General Farm Management & Strategy

2018 Crop Outlook

Recorded July 3, 2018 | Corn & soybean outlook focused on updated trade tariff information, along with information from USDA’s June 30th Acreage & Grain Stocks reports.

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The Role of Grain Markets in the Boom-Moderation Cycle

An early lesson in economics is that commodity markets, and the prices they help generate, send signals to producers of how much to produce, what to produce, and when to produce. A good illustration are the signals sent to the world’s grain producers during the recent boom-moderation cycle that all farmers are familiar with.

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Farm Growth: Challenges and Opportunities

Farm size and growth are often discussed in the context of economies of size. Previous research suggests that the average cost curve in production agriculture is downward sloping or at a minimum L-shaped. Thus, in general, larger businesses have lower costs of production.

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International Benchmarks for Soybean Production (2018)

Examines the competitiveness of soybean production for important international soybean regions using 2013 to 2016 data from the agri benchmark network.

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International Benchmarks for Corn Production (2018)

Examines the competitiveness of corn production for important international corn producing regions using 2013 to 2016 data from the agri benchmark network.

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Corn Silage Production Budget

This Ohio State University spreadsheet calculates a corn silage production budget. Without some form of budgeting and some method to track your enterprises’ progress you’ll have difficulty determining profitability and if you’ve met your goals for the farm.

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What is My Sustainable Growth Rate?

A farm’s sustainable growth rate depends on the farm’s return on equity and its components. A farm with a higher profit margin, a higher asset turnover ratio, a higher ratio of assets/equity, and/or a lower percentage of owner withdrawals to net farm income will have a higher sustainable growth rate.

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Farm Growth: Challenges and Opportunities

Before growing, it is essential for an operation to think about their strategic direction.

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Retirement in the Family Business: Farm and Non-Farm Differences

Retirement planning is always challenging but can be especially complicated if you own your business, work for a family business, or are self-employed. Copreneurs (those who own a business with their spouse) have especially complicated situations since the financial wellbeing of both individuals is linked to the business.

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What are the Start-Up Challenges Associated with Farm Growth?

Start-up challenges may include cash flow shortages and depleted working capital, operational inefficiencies, and management bottlenecks. Comparing and contrasting these challenges among expansion options helps mitigate potential start-up challenges.

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