Adopt a lean-and-mean business mentality.

“In spite of some global economic headwinds and an open harvest week, the grain markets seem unphased,” says Jerry Gulke, president of the Gulke Group.

Before you increase your fixed assets, define your goals and set limitations — in other words create a capital expenditure budget.

The Personal Consumption Expenditures (PCE) price index is a monthly measure of how much Americans are spending on goods and services. So far in 2021, the PCE has shown a sharp uptick.

Many farmers saw high profit opportunities in 2020 and 2021. But higher input costs are starting to eat into those positive margins.

The markets reacted negatively to the Oct. 12 USDA reports. But prices regained some of their losses.