Preparing for Challenging Markets
Crop prices have decreased to levels not seen in several years, affecting many producers. In real terms, corn and soybean prices are near their weakest levels in almost two decades, despite rising input costs and global trade pressures.
Export markets are tightening and tariff uncertainty persists, straining today's margins. However, this is an opportunity to regroup and strengthen your operation.
Practical Preparation
- Keep solid books and understand their meaning
Accurate records are crucial when profits are tight, allowing you to track expenses and make adjustments. They also provide confidence when discussing finances with your banker.
Clear, accurate books allow you to see where your dollars are going and where adjustments might make sense.
Author's summary: Preparing your operation for tough markets.
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