Cost of production set a record in 2023 as the most expensive crops ever planted. How things turned out for the P&L statement depended on weather, yield, and how well operators navigated the commodity markets. Prices for land, labor, fuel, machinery, and crop inputs aren’t subsiding, nor is the interest rate for borrowed money. All this points to a challenging farm business environment for 2024. Put simply: Crop insurance and adherence to business will matter more in ’24. Chris Barron with Ag View Solutions discusses farm finances with Damian.
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