Growing Returns

Selected tag(s): farm finance

Farmer grit created unexpected bright spots in a difficult year

It is a wild understatement to say it has been a hard year in agriculture. It has been a year of loss, heartbreak and stress. As a frontpage Washington Post article captured, “Farm bankruptcies and loan delinquencies are rising, calamitous weather events are ruining crops and profits are vanishing during Trump’s global trade disputes.”

I had to dig deep, but I was determined to find some silver linings.

As I sat with my pen, paper and thoughts, I found I had more and more to write. I was reminded that farmers have amazing grit and determination, which is why, despite the incredible challenges ahead, I remain firmly optimistic that we will find the ways to feed the world while sustaining the natural resources on which we all depend. Read More »

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3 ways agricultural lenders can help farmers reap millions in savings from conservation

The U.S. farm economy is in its worst condition in decades due to several years of low crop prices, ongoing trade disputes, natural disasters and other variable weather. But many farmers are adapting and innovating – implementing conservation practices that build soil health and resilience, such as nutrient optimization, cover crops and no-till.

Still, there is a growing need for farmers to understand the full financial benefits of these practices and prove their value to ag lenders and other financial partners.

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A new guide for farmers to boost profits through conservation

As the struggling U.S. farm economy continues to make the news, agricultural organizations, government agencies and conservation groups are rightly focusing their attention on the affordability of conservation adoption.

A 2018 report from EDF and agricultural accounting firm K·Coe Isom, Farm Finance and Conservation, found that farmers who adopt conservation practices such as no-till, nutrient optimization, cover crops and diverse rotations improved their profitability and were more resilient.

Despite these benefits, the costs of transitioning to conservation management practices can be a barrier to adoption. In addition, any change carries some risk, and farmers are likely to be reluctant to take on additional risk in the current economic climate.

For these reasons, it is more important than ever to provide farmers with practical guidance on how to minimize the costs and risks of conservation adoption. Fortunately, a new technical bulletin from the Sustainable Agriculture Research and Education (SARE) program at the U.S. Department of Agriculture does just that.

Cover Crop Economics: Opportunities to Improve Your Bottom Line in Row Crops [PDF] describes seven different management scenarios in which farmers can speed their transition to cover crops and achieve profitability more quickly — in some cases within the first year of adoption. Read More »

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