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Top Lessons Learned at Top Producer Seminar

February 6, 2014
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Read articles and view speakers’ presentations from the 2014 Top Producer Seminar.

The more than 800 farmers, from 30 states, who attended the 2014 Top Producer Seminar left Chicago with many ideas to ponder. Amidst bearish ag markets, speakers and panelists shared their thoughts on how farmers can work through the challenges and transitions ahead.

Setting and maintaining good business practices is the key take away from this year’s seminar, which was titled, "Ahead of the Pack."

Read the stories below for experts’ insights, as well as tips on how to make your farming operation stable and profitable in 2014.

 

Tighter Margins, True, but Ag’s Future Remains Bright

Grain and oilseed prices have taken their lumps in recent months, particularly corn, but for producers well positioned with strong working capital, the future is a bright one. Use these eight strategies to help you prosper during the rocky road ahead.

How to Make an Extra $100 per Acre

For farmers facing lower revenues for their 2014 crop, the new Farm bill may actually provide more revenue than the old farm bill. Farm CPA Paul Neiffer explains the tax implications of the new farm bill, and how you could benefit.

Three Ways to Communicate Better with Landlords

Dave Nelson of Nelson Family Farms in Fort Dodge, Iowa, explains how producers can improve communication and expand networks.

Top Priority for 2014: Protect the Balance Sheet

The No. 1 job for crop producers in 2014 is to protect their capital positions created from an unprecedented run of near-record prices. Employing price protection strategies can help safeguard your profit margin against sharp drops in prices.

Why GAAP for Farmers

The experience of the 1980s farm debt crisis pointed out that the methods used to determine,

measure and analyze the financial position and the financial performance of farmers were

either totally inadequate or seriously underutilized. Today, as profits look more challenging to attain in 2014, financial institutions are starting to push for strong accounting principles and adoption of GAAP (Generally Accepted Accounting Practices).

Moe Russell: Be the Lead Dog in Farming

While there will be reasons for some to exit the industry in the next five years, there will be plenty of opportunities for others, he tells the 2014 Top Producer Seminar.

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