GrowingOnSM 2011 Meetings Encourage Producers to Spend More Time on Crop Controllable Factors in 2011
OMAHA, Nebraska - (December 27, 2010) - Farm Credit Services of America (FCSAmerica) is hosting 17 meetings in January. The purpose is to share information and insights to help producers plan, reduce risk and grow in 2011.
Steven Johnson, farm management specialist with Iowa State University Extension, will be the main presenter. He will go over seasonal trends and provide a 2011crop price outlook, but more so, he will dedicate his time to sharing strategies for managing farm revenue and demonstrating how to use crop insurance as part of an overall risk management strategy.
"The potential for 2011 row crop profits are unprecedented," says Johnson. These crop prices will trigger much higher input costs, especially for fertilizer, fuel and, perhaps, even seed and land. Producers will want to maintain adequate working capital to help cover operating costs and debt servicing. Successful producers need to focus on the crop factors they can control, not the multitude of things they have no control over."
Johnson says it's also important for producers to work with a lender who understands the changes taking place in row crop agriculture. "It will be increasingly important to manage cash flow with higher operating fund requirements that cover multiple years' crop inputs. Successfully implemented crop marketing plans along with crop insurance coverage is becoming as important as cash flow projections."
"Producers are contracting more of their 2011 crop now - even before anything is planted," said Doug Burns, VP-Insurance for FCSAmerica. "We cannot stress enough how important it is for producers to talk to their crop insurance agent about their marketing plan changes to make sure they are comfortable with their coverage levels. At Farm Credit Services of America we have the tools that easily allow our customers to see how many bushels are insured, which helps with their marketing planning. We can show them how many bushels will be protected if they change their coverage levels, too." FCSAmerica crop insurance agents will go over this information at the GrowingOn 2011 meetings as well as share information regarding changes to the federal crop insurance plans and policy provisions. And they will also discuss options to reduce insurance premiums, such as the Enterprise Unit option and the Biotechnology Endorsement.
This two and one-half hour program will be held Wednesday, Jan. 5 in Newton and Marshalltown, Iowa; Thursday, Jan. 6 in Cedar Rapids and Davenport, Iowa; Friday, Jan. 7 in Yale, Iowa; Monday, Jan. 10 in Eddyville, Iowa; Tuesday, Jan. 11 in Harlan and Corning, Iowa; Wednesday, Jan. 12 in Storm Lake, Iowa; Thursday, Jan. 13 in South Sioux City, Nebraska and Carroll, Iowa; Friday, Jan. 14 in Mt. Pleasant, Iowa; Monday, Jan. 17 in Mason City and Manchester, Iowa; Tuesday, Jan. 18 in Festina and Waterloo, Iowa and Wednesday, Jan. 19 in Webster City, Iowa.
Pre-registration is required. Specific times, locations and registration details can be found at www.cropinsurancespecialists.com or by calling the local Farm Credit Services of America office or by calling 1-800-884-FARM.
Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With more than 85,000 customers, a cash patronage program and assets of $15.3 billion, FCSAmerica is one of the region's leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming.
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