A little bit panicked, need advice. PLEASE HELP!!!

[bucket]

Just playing devils advocate. Do I believe what I am saying? It doesn't matter to any of you or to freewheat - its a differnt opinion that has to be considered. When I am having tough decisions to make I like all perspectives good and bad - it makes me feel comfortable with the decision I end up making and am good with it.

I am not a banker. Just a farmer who looks at all sides.

[bucket]

may-be

I didn't start calling you names so why the banker insult?

[makar]

Something i have done in the past is borrow with my crop insurance as collateral. Borrow all you can because the check will come joint. In theory if you have enough ci to farm another year the loan is secure. When you are snowed under ci is a failure. Say you have 10 bushels wheat and they appraise as 5 in the fall. If you want all your claim you will be paid your coverage minus potential. Fine but you are getting paid on base grade 2rs what you combine is junk. The huge problem in spring agusting is 52 lb wheat is still feed to the cwb and ci, but under 58 is discounted heavy on the open market,where it will go. As said elsewhere if at all possible get it off in the fall.

[checking]

I'll give you credit, bucket, you're no modern day raptor with your perspectives!
In general, it's unfortunate that any age of farmer doesn't consider the absolute worst that could happen if (s)he makes such and such a move. To do less, then I consider you to be a "go for broke gambler."
I only have an inking of where this family might live, but for anyone contemplating farming in the artic circle, regardless of how rich the soil is, I'd wait awhile longer for global warming to kick in.

[may-be]

Bucket
I did not start calling you names. I said you sounded like one after telling a guy twice to forget about farming and get a job. (sometimes we can say something and the other person can take it up to 5 different ways) To be ohnest I don't have a problem with you but my bank. Went to get a loan this spring for some updateing and they wanted land for collateral saying I was high risk. After being there 26 years never missing a payment, built good net worth, haveing the cash flow to put in this years crop overwhelmed me to be put in a high risk category. Twice in my past I was told to get a job. Paid all my bills yesterday and can pree by fert for next year if I take a cash advance. (Never sold any canola or soybean yet) Time for me to look for another bank to deal with because if I did not get my crop off I probley would be told to forget farming, get a gob and enjoy life.

[bucket]

It seems you have to change banks occasionally. Its not like the old days where you walk in and say you need a loan an the manager actually did all the paper work over a coffee or two. First of all the banks and credit unions put some young jerk off with a diploma in a manager's chair who gets on a power trip and years of banking relationship goes down the drain. I don't particularly like dealing with some punk earning 35k a year making million dollar decisions for my farm. They don't know how it works. They push it into the computer and make a decision based on some x:y formula and I actually believe they don'thave ears because they do not listen very well.

[hedgehog]

here in scotland we regularly combine grain over 20% and often over 30%.
if you put a false mesh floor in your truck, you can blow air through it, add a propane burner and you have a drier.
dry it for a while, till half dry, then tip it out and reload it to finish drying.
in our climate, a dryer is more important than a combine.
I have had my worst harvest ever , due to the wet summer/autumn of 08. little wheat drilled, and then hit by spring drought, then wet weather at grainfill,so bad yields.

[sumdumguy]

Agristability will build you beginner margins - apply for 2009 as soon as you get your taxes done. You will have no problem filling out the forms.

[hobbyfrmr]

Do not make yourself sick worrying over all of this. Just as recommended by most posts, communicate with lenders and work through the problems. If it does not work,let it go. Back in the 80s some farmers overpaid for land, filled up on machinery and then could not pay. The lenders took the land, rented it back to the farmers for 6 years. The farmers planted and harvested 6 crops paid very little rent, and then bought the land back at a much more discounted price. This is a twisted observation, but, Somehow, the farmers that go broke or bankrupt or to the Farm Debt Reivew Board eventually keep farming with really good equipment and newer vehicles.

[skhadenuf]

Your right Hobby, but what happenned there was farm debt and those wrote off debt, the more of a buying idiot you were the more they wrote off because no one else could buy them out if they wanted. My uncle went throught the farm debt thing never got a break on any interest or anything just stretched out the payments, I think it was debts in the total of 45k. He later found out guy next door that was going hog wild bidding up land to ridiculous prices bought 8 quarters of land, brand new equipment had about 450000k debt to work on ended up getting that land for a third of the price.
I don't think that will happen this time around whether you sign or not the fine print entitles your creditors to everything almost down to your worst pair of shorts.

[skhadenuf]

Forgot to mention to FreeWheat, pertaining to crop insurance if you have not harvested anything and your neighbors are at 70% done or whatever, crop insurance may reduce your coverage payout based on the amount that your neighbors harvested. In other words if 70% harvested in area then your payout may be only 30% of your insurance guarantee. this apparently has happenned to others some people were paid at 100% some were not depended on the adjuster and if you were on the management target list or not.