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Report: Farmers should reset financially for 2018

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Some indications show the row crop economy has reached its lowest point. But a new report shows farmers should anticipate challenges over the next several growing seasons and be prepared to adjust their business model.

A new report from the RaboResearch Food and & Agribusiness group, took a deep look at the potential recovery of the row crop economy and strategies for increased success.

RaboResearch Food & Agribusiness, Global Data Analyst Sterling Liddell says it’s a very difficult time to be in agriculture.

“Since the downturn began in 2013, profitability on an individual farm basis has been largely dependent on land ownership,” notes. “Growers who farm on owned land generally producing greater profits compared to farmers operating on cash-rented or share-rented land.”

Many farmers right now are financially planning for next year. Liddell says it’s better to do a financial reset than a hang on. Audio is courtesy of Rabo Agrifinance’s podcast “Time to Evolve”.