Farm Business Management

All Farm Business Management Content

Picture shows a dense and diverse cover crop mix grown after cereal grain. The cover crop is very green with many brassica and grass plants growing. The top third of the picture is the sky with some gray clouds.

South Dakota Land Use Trends (2012-2017)

Significant education efforts for natural resource conservation have occurred in South Dakota during the last five years. Many stakeholder groups have brought awareness for soil health and water quality to the forefront.

Soybean seed drill planting soybeans. Courtesy: Soybean Checkoff [CC BY 2.0].

Improve Soybean Profitability by Reducing Input Costs

While declining prices and increasing costs considerably reduce profit for soybean production, there are certain input costs that might be reduced to increase profitability.

A combine harvesting soybeans at sunset.

Trade Impacts on Soybeans

Agricultural trade agreements were first established in the General Agreement on Tariffs and Trade (GATT), legal treaty signed initially by 23 nations in 1947. The purpose was to promote international trade by reducing barriers such as tariffs.

South Dakota corn late plant date map. View pdf map: https://legacy.rma.usda.gov/fields/mt_rso/2018/final/sdcorn_grain_nonirrigated.pdf View text in Excel: https://legacy.rma.usda.gov/fields/mt_rso/2018/final/sdcorn_grain_nonirrigatedtext.xlsx

Late Plant Crop Insurance Dates

Crop insurance late plant dates are fast approaching for planting small grains in South Dakota. Late plant dates for corn, soybean, and sunflower are nearing as well. Producers will want to work with their crop insurance agent to explore planting options and reporting of prevent plant areas.

A field of standing corn covered in snow.

Standing Corn Considerations

The January 2020 South Dakota Crop Progress Report indicated four percent of S.D. corn acres remain in the field. Given the record rainfall of 2019, current snow pack levels and the 3-to-6-month precipitation forecasts, farmers will likely be dealing with a wet spring in 2020, thus making the removal of those acres important but hard to accomplish.

sun rising over a cornfield. several grain bins are in the background.

Corn Grain Moisture Discount: Why and How Much?

Corn marketed at the standard moisture content of 15.5% and 56 pounds per bushel typically contains 47.3 pounds of dry matter and 8.7 pounds of water. At harvest, a producer has to decide whether to sell (or even store) his corn at ‘as is’ moisture content or mechanically dry it before taking it to the buyer.

Corn earlobe being stored in a bunker for later use as cattle feed.

Valuing High-Moisture Corn and Earlage

A key advantage to using commodities that meet standard specifications and are frequently traded is that it is very easy to establish an economic value that is accepted by most users. The marketplace sets the value of corn, and other feedstuffs on a daily basis, provided those products meet some set of standard specifications.

Corn Production Costs in the Northern Great Plains

Supply and demand regulates U.S. agricultural and non-agricultural markets all the time. Prices increase when scarcity of a certain item is anticipated. Similarly, prices drop if the market is saturated because of oversupply or there is a reduced demand for the product.

A herd of cattle gather around a stock pond on a vast, lush grassland. Courtesy: USDA [CC BY 2.0]

Range Improvements, Grazing Systems and Net Present Value, What is the Right Balance?

As farms and ranches across South Dakota continue to endure increasing costs of production while receiving less cash for grain and livestock marketed; ranch managers must be extra diligent when implementing new range improvements and grazing systems on their ranches.

Livestock Market Disruptions

COVID-19 has affected the market availability for finished cattle and hogs. Some beef and pork processing facilities have closed for cleaning and social distancing of their employees. While some of these facilities have scheduled a date to reopen at reduced capacity, others remain closed with no announced plans to resume operations.