Farm Credit Services of America will host six meetings in Nebraska to help producers plan, reduce risk and grow in 2011.
Steven Johnson, farm management specialist with Iowa State University, will be the main presenter. He will go over seasonal trends and provide a 2011crop price outlook, plus share strategies for managing farm revenue. Additionally, he will recommend how to use crop insurance as part of an overall risk management strategy.
"The potential for 2011 row crop profits are unprecedented," says Johnson.
These crop prices will trigger much higher input costs, especially for fertilizer, fuel and even seed and land. "Producers will want to maintain adequate working capital to help cover operating costs and debt servicing," he says. "Successful producers need to focus on the crop factors they can control, not the multitude of things they have no control over."
Johnson says it's also important for producers to work with a lender who understands the changes taking place in row crop agriculture.
"It will be increasingly important to manage cash flow with higher operating fund requirements that cover multiple years' crop inputs. Successfully implemented crop marketing plans along with crop insurance coverage is becoming as important as cash flow projections."
"Producers are contracting more of their 2011 crop now, even before anything is planted," says Doug Burns, vice president of insurance for FCSAmerica. "We cannot stress enough how important it is for producers to talk to their crop insurance agent about their marketing plan changes to make sure they are comfortable with their coverage levels.
The 2-1/2-hour programs will be: Dec. 13 in Lincoln; Dec. 14 in Norfolk and Columbus; Dec. 15 in Grand Island; Dec. 16 in North Platte; and Jan. 13 in South Sioux City.
Pre-registration is required. Specific times, locations and registration details can be found at www.cropinsurancespecialists.com.