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Thanks Farmers for Abundant Harvest!

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    Thanks Farmers for Abundant Harvest!

    Hi Folks,

    Reading my "High Plains Journal" an article thanking farmers is included.

    We don't publicly thank those who work so hard, innovate... scrimp, conserve, and do what many would say was close to impossible to get the harvest off the field!

    Thanks FOLKS... a job well done!

    Here is a NCGA site that was set up:

    www.farmersmatter.org



    We Canucks need to take some of our neighbours a little less for granted... even those to the south of us!

    God Bless Canada!

    God Bless America!

    Here are some articles from the rrfn.com site:



    A Weekly Update From Your Friends at the Red River Farm Network


    Monday, November 26, 2007

    Like Other Commodities, Barley Prices are Strong -- US Grains Council Vice-chairman Jim Broten represents the barley industry and credits the USGC for that success. "They started the Simultaneous Buy and Sell (SBS) situation over in Japan and that's increased our share of barley over in Japan; that's why we see this $6-plus market for barley, right now." Barley exports are strong, even with the high prices. Broten says the weak US dollar has helped the export picture.



    Brazil Update -- Greenbush, Minnesota native Kory Melby was in Mato Grosso, Brazil last week where he saw soybeans that look better than last year. One year ago, it was difficult for Brazilian farmers to get credit for soybean inputs. This year, credit is readily available and with the large amounts of fertilizer applied, the crops look great. Melby says non-GMO corn is bringing a premium price and Brazilian farmers are excited to plant second-crop corn. In some states, corn is worth $8 per bushel. Melby says the current basis in central Mato Grosso is $5.50 to $6 per bushel, with cash bids for March delivery at $7.50 per bushel. In Parana, in southern Brazil, beans are bid at $9.75 for February delivery.

    Farmland is a Hot Commodity -- Murray Wise, Chairman and CEO of the Westchester Group, says $6,000 per acre land prices have become commonplace. Some farm management economists and lenders have been warning farmers they could be setting themselves up for another crash, like we saw in the mid-80's, but Wise thinks farm assets are much more secure today. "In the mid-80's, we were coming off 18 to 21 percent interest rates which tried to kill all of us that had any capital borrowed; we were coming off a period of time where there was more agriculture debt in 1982 than there is in 2007; look at the state of Iowa, 72 percent of the farms have no note or mortgage associated with them; name an industry where 72 percent of the assets have no lien against them."

    Agriculture is Moving in Uncharted Waters -- According to AgStar Financial Services President and CEO Paul DeBriyn, this time of high commodity prices creates new opportunities for the farmer. Input costs are high and markets are volatile. That makes risk management more important. "Knowing your breakeven cost is very important and to the extent you can lock in inputs and look at ways to lock in from a marketing standpoint and than utilize crop insurance." DeBriyn says there are more options to lock in price and manage risk than ever before. "Yes, it takes a lot more management today, but it's also a great time to make some money." Land prices are higher and DeBriyn expects that will likely influence rental rates in 2008. "We've seen some pretty significant increases in land costs, as far as buying land." The land market seems to be on hold right now. "It's sort of the calm before the storm, I think we'll see what's going to happen with rents and land values as we go into next spring."
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