Decades ago, the generational transition was simple: the oldest son got the farm. Today, it’s not so easy. Times have changed and so have the levels of wealth, opportunity and risk in agriculture.
The Farm Journal Legacy Project is a catalyst for the succession planning process and is devoted to cultivating multigenerational success. A key part of that has been the unique chronicling of three case-study families (the Dells in Farm Journal, the Esthers in Top Producer and the Moeses in Dairy Today) as they work through their individual succession planning processes.
As the Esthers wind up three years of successful farm transition work, the time is right to learn from a new family. This doesn’t mean we won’t check in with the Esthers, as the succession process never fully ends. Top Producer is currently looking for a new family ready to create a lasting legacy for their farm business and family members.
If you’d like your family to be considered, send a letter that shares an overview of your farm, your succession planning frustrations and your goals to LegacyProject@farmjournal.com. For more details, call (877) 523-7411.
Hindered by unfavorable planting and growing conditions in 2011, U.S. farmers produced a smaller crop than the previous year. It’s the first time a year-to-year decrease has occurred in all four commodities since the 2002 crop year.
-1% Corn production was down to 12.4 billion bushels.
+3% Corn area harvested was up to 84 million acres.
-8% Soybean production fell to 3.06 billion bushels.
-4% Soybean area harvested was down to 73.6 million acres.
-13% Cotton production fell to 15.7 million 480-lb. bales.
-9% Cotton area harvested was down to 9.75 million acres.
-9% The wheat production estimate of 43.7 bu. per acre for the current crop is down 2.6 bu. per acre.