Cole, I watch numerous farm shows (e.g. Larson, Laura Farms, Welkers, Millenial, 10th Generation Dairy Farmer). It's episodes like this one which stands out and raises you high above the rest. I learn so much and have mad respect for what you and all farmers do. God Bless and Thank you
This is legit one of the best, most real videos on youtube. I grew up on a farm. We lost it all, and when i was a kid i didn't understand. Farming is hard work with great amounts of stress, but also very rewarding. I will always support farmers and love all the farming videos.
My father-in-law was a farmer. He also was a rural carrier for the USPS. He said it was really hard to just live off of farming. I really hope it’s a good crop year for all farmers!
Thank you,Cole, for educating the public. We grew apples 32 years, and lost our cushion 3 times. When the fourth time happened we declared bankruptcy. And hubby sought work in town. He was hired as maintenance at the school. 17..5 years later he retired. It was the first time we had health insurance when he was hired. But he always missed raising apples. Glad the public has an opportunity to under stand how this works. Have you thought about being a college professor? Seriously!
You really told this story in a very impactful and meaningful manner! Loved the "monopoly money". Really gave it that feel of realism. Keep producing these every so often, it really does help folks to understand what the bottom line of farming is - and that it can be fun to do it too!
@@AndrewPL5 they are just joking about the brothers.. little sibling rivalry .. one does good and a raise for the other one... I think maybe you've been online so long your forgetting how to interact with people in a civil maner... go ahead and take a break for a few months and get a better grasp on human connections before you cause permanent damage to your social skills
@@jram7047 You know you have nothing to add and you already lost when you have to insult someone like you did. Nice try lmaoooo. It's the internet, it's not that deep. Maybe take your own advice...
Cole your a good economic advisor, I feel your farm is in good hands, the family is lucky to have your dedication and drive to see you all stay above water. God Bless 😊
That was a great lesson on how financing works! This video should be used in all high school classrooms! Praying that your numbers come to fruition this year! Thanks for the lesson, Professor Cole!😉
Cole, I was the last of 5 kids. When I was 16, the bank came after my families farm. Watched the back auction off every thing. Before Farm Aide. Moved into a trailer, in the suburbs After 3 years joined the Marine Corps, Brother joined the Army. I was use to working 7 days a week. He stayed 3 I did 21 + 8 DOD Contractor. Lost use of my right leg, after my 11th ovaseas tour. Good Luck Cole & Family. Don't need to dig my grave yet.
Compound interest is something everyone should know about as it applies to everything not just farming. Great explanation in plain English that should be taught in every school not just colleges. Very well done as always Cole, God Bless...
As a former Ag lender, this is why I always advised my customers to save as much of their surplus in the good years (either in cash, lower LOC leverage, or RE equity) so they can cover years when things don't pencil out, like 2023'.
I spent 25 yrs in banking and last 12 on other side of the desk like you. Very solid presentation of how it all works. Seriously should submit this to high school guidance counselors for consideration. Applies to all businesses. Well done Cole.
Great video Cole! I'm both fascinated and perplexed by the economics of farming. You have a stronger stomach than I do for the risk and ups and downs. If I could afford to farm, I'd do it. Thanks for feeding the world through the work you do. Am grateful for farmers. God bless.
Thank you for your time! The time it takes to do these videos and the time it takes to explain the business behind your business. It's a window to a world most of us will never see.
The world, especially our youth needs you Cole. Im 39 male. Your such an excellent teacher. Please please please with a cherry on top. Start a finance/learn about money channel.
Thank you for explaining things in a concise and interesting way, I just hope that you can inspire future youth! Our children need good role models and I thank your family for being one of the good ones!!!! GBY
that was interesting if not a little bit depressing - I am always mind-boggled at all the work you do just to stay farming but if you love something I guess its not as bad as working at something you hate -- Kudos to you and the entire Cornstar Family! ♥
Thanks Cole for the simplistic explanation. Farming is a tough business and takes a sharp mind to try and stay on top of it. I hope your bin fiasco gets fixed and you are compensated for the problems. Best wishes.
Mad respect for farmers. Thank you from the bottom of my heart for all you do and provide. Your explanation and teaching model really drove home the struggle of farmers, and the grit as well. Farming is definitely not for the faint of heart. Love love love your channel!!
Hope he is successful. What you have to remember is guys that run their operations like Cole are often the most spectacular failures. Really appreciate how he lays out the general numbers so non farmers can understand what is going on. He left out what his current loan payments are on his bin site and equipment loans. That has to come out of profits as well as living expenses for 3 families. If you leave out the other businesses (RUclips, grave digging) the farm needs to make enough to pay Cole, Daddy, Cooper, and their farm loan payments, and equipment replacement to be considered a going concern. I would venture to guess that would mean they need to average $400,000 a year profit over time.
Wow, you have never been afraid of a hard days work. I enjoy watching each video and look forward to the next! I do miss Nave, what a beautiful person. Please let her know she is missed!!
This Cornstar dude wow I knew nothing about farming but started watching the Larson farm channel and now the grave digging Corn farmer. Wow amazing content and you have really made me look around and think about stuff.Cole your going to the moon with your content and your vision. Thank you for sharing your personality and providing a very interesting view of your life on the farm.
Excellent video Cole. You really help an old 73 yr. old city boy with a family history of Kansas farming understand what you guys have to go through every year.
I am 62 and for the first time understood what I was listening to. Could never get my head round this when I was at school. Thank you for letting me understand it properly. Just wish you would make more videos for you tube and one question how is it going with fixing the bin site really scared when I see any off you up at the top. Please keep up the good work.
Excellent presentation grew up in farming in Michigan now growing palm trees in Florida would love to be farming again getting to young at 68 I'll let you do it your spot on for being a first class farm operation
Now I understand why you dig graves and film you tube videos. You taught me more about business than I’ve learned in all my seventy seven years. Thanks. 😊
as a old family farm guy who's been living in the city for 45 years / we always reinvested but never understood what the operation overhead actually meant. your a smart cookie Cole
It's insane how much work you put into farming, and you never know if you actually make a profit... I don't know how you guys do it, I'd be stressing way too much about it. Keep up the hard work cole, your feeding your country!
Good job Cole. I’m glad to see your farm, and youtube grow. The best part of your videos are when my 7 year old granddaughter calls me to ask if I watched your newest videos. EDIT: Les is never your friend Cole, but also remember to keep your enemies close.
Where ya been Cole? I’m a junkie on your videos. Well I guess the story’s are true your a new dad congratulations you a Nava will be great parents so I will Waite patiently till you have more time to make more videos your a awesome young farmer
8.5% interest, the bank is going to love you @ 170k in interest/yr, $14.2k/month. You tube must be paying well. I would sell off acres to a developer, reduce your monthly operating expenses in feed, grain, employees, unneeded equipment, structures, heating, electricity, etc etc and/or you have to raise your prices accordingly, or just have land to farm for yourself. That is unless we the people pay for your farm subsidies, and /or you write-off all business expenses, business losses. I'm hoping you are keeping the farming business in an LLC to prevent any losses to any personal assets. My .02 cents.
Thanks Cole for the video! Made perfect sense and cleared some questions up about farming! Always looking forward to your videos! Keep up the good work! God bless
Cole if you lived here last summer, you'd be gray and bald with the stress our farmers dealt with. We've had high amounts of snow, followed with non stop rain. Most farmers didn't get their seeds out until the last couple weeks for crop insurance. Some farmers resorted to contracting air craft sprayers, and some of those sprayers converted to seed sprayers to help. In the end lots still recovered, but you can see areas that were prone to flooding didn't make the yield the field can generate
excellent and easy to understand presentation. The number that we all should be aware of is the money paid to the banker, ie. the interest rate. It has almost doubled in the 4 years you show.
Hi Cole, The hard reality of farming but on another note when are you going to announce baby cornstar I know you would like some privacy, but it is too exciting, I have been watching you from the start of your RUclips journey, we are your RUclips family just saying, all our love from New Zealand
When things are good and the weather is nice banks have all the umbrellas out and open, the first sign of clouds and rain they close all umbrellas pick them up and turn into different people Just be careful Cole that's big numbers your dealing with!!
Guessing here ..but until the suit is settled,I'm guessing their lawyers have told them to shut up (that will likely be years from now). Don't want to run the risk of saying anything that blows the suit or gets them on the hook for slander.
Trucking $36 an acre ×2000 acres. $72K a year. After a few years you could have a new truck and trailer almost paid for. After 10 to 15 years a small fleet of low mileage units paid for. At our farm we always trucked our own crops to save$$
Very simplified explanation that does make sense. The only thing that I would consider bad info is the bank constantly approving of 8.5% interest, as sometimes they want "more" or if your a really good qualified borrower they might go Lower interest. but with the way things are going lower rates might not be possible for awhile, as banks raise rates.
Part of the reason I watch CtCS is for the operational side of farming so I’m rooting for you. It would be interesting to see a similar analysis of how your farm has grown financially (even in Monopoly money) since you got out of high school or college or whenever you took on the role.
@@marlowmccoy6680 did you not follow along with the numbers for input costs? $2,000,000 on 2,000 acres is $1,000 an acre. Seed and fertilizer alone in 2022 was almost $600 per acre. Those costs are expected to be even higher in 2023. I will bet it's projected at least $700. Then you add in fuel costs, maintenance and repair, labor costs, crop insurance, property taxes, etc. You think those costs don't add up to more than $300 an acre?
I know what things cost.All I’m saying is last year’s crop should pay for for this year’s inputs with high crop prices last year.If you have to borrow all your input costs you won’t last. I have all my inputs prepaid with no operating loan.Maybe he needs to do a better job of marketing.
Thanks for going through this, super interesting. Can't imagine the stress of this, but as the banker said, you are your own boss, that is earned by few ppl in this world.
A great simplified explanation. Figuring out finance predictions in any business is a tough art. I wish I had a basic knowledge on accounting, bookkeeping and finances before becoming self employed.
Man, you do a great job breaking things down in simplified terms. Keep it up. If you don't mind me asking, what resources did you use to learn about farm finances? I'm about the same age and wish I knew half of what you do on the matter.
pretty sure he has said he got a degree in Finance from either Iowa State or one of the other colleges in his area. proving to be a very wise investment for him, for sure.
Working capital is extremely important! Les knows that. $400k loss is hard on any operation. Build working cap in good years. Contract prices to cover operating costs, ride the market after covering costs. Hard for any operation to operate without a lender with the cost of capital and real estate. You’re a smart man Cole. You can manage through the volatility. Be careful buying higher yields - profit is what’s important. Good luck this year!
I expected you to ask the question ... Why do farmers take such risk? But I sure as hell didn't expect to see your banker standing next to you in your home helping to answer that question. Very smart Cole and for Les the banker, my hat goes off to you Sir for helping explain the system we all live with as we produce food for our tables.
Cole, thanks for sharing your numbers. Your expo on interest expense shows you are a Dave Ramsey graduate. Thanks for the great video. I wish you and your family success in the years to come.
My grandfather farmed most of his life and he explained to me that farmers were taking a real gamble every year. In his day it wasn't Lamborghinis that were keeping young farmers down, it was duded up buggies with green wheels to take Iadies out riding.
THE most transparent RUclipsr I know. Wow. Know that we all are wishing you the very best Cole!!! Also…more farmhouse renovations please!!! 😝😝
I’m 64 years old and the way you explained it was perfect. Every kid in school should watch this episode. Thank you
I was just about to post "I'm 65 and Cole explained this very well ".
I'm a 63 year old bean counter myself. The end zone (goal) is
Debt Free
You made that pretty darned clear.
Agreed (from a 65 year old)!
Coke should make basic finance courses to be used in school - they don’t teach this enough
Cole, I watch numerous farm shows (e.g. Larson, Laura Farms, Welkers, Millenial, 10th Generation Dairy Farmer). It's episodes like this one which stands out and raises you high above the rest. I learn so much and have mad respect for what you and all farmers do. God Bless and Thank you
This is legit one of the best, most real videos on youtube. I grew up on a farm. We lost it all, and when i was a kid i didn't understand. Farming is hard work with great amounts of stress, but also very rewarding. I will always support farmers and love all the farming videos.
My father-in-law was a farmer. He also was a rural carrier for the USPS. He said it was really hard to just live off of farming. I really hope it’s a good crop year for all farmers!
Thank you,Cole, for educating the public. We grew apples
32 years, and lost our cushion 3 times. When the fourth time happened we declared bankruptcy. And hubby sought work in town. He was hired as maintenance at the school. 17..5 years later he retired. It was the first time we had health insurance when he was hired. But he always missed raising apples.
Glad the public has an opportunity to under stand how this works. Have you thought about being a college professor? Seriously!
Stay on the Farm. As you teach from home.
Sure. If he could do it through youtube. The students can learn from his videos just like the rest of us do!
You couldn't have explained it any better than that . Good luck this year with the farm .
Keep up your Life Plan and you will own those Windmills someday!
Well said Cole!
You really told this story in a very impactful and meaningful manner! Loved the "monopoly money". Really gave it that feel of realism. Keep producing these every so often, it really does help folks to understand what the bottom line of farming is - and that it can be fun to do it too!
It is not only farmers life that looks like this, it is everyday life…
@@gunlindblad6816 Its the farming perspective that is important.
Cole, you really have a talent for explaining complicated business so that even I can understand it.
Always enjoy your financial vlogs. Not everyone who knows what you know can explain it as clearly as you do.
Cole, you are doing a great job managing the farm. Cooper deserves a raise!
And you know how much cooper makes to make that call? weird comment tbh
@Andrew L ever heard of a joke?
@@Daniel-dp5gi jokes are funny tho...
@@AndrewPL5 they are just joking about the brothers.. little sibling rivalry .. one does good and a raise for the other one... I think maybe you've been online so long your forgetting how to interact with people in a civil maner... go ahead and take a break for a few months and get a better grasp on human connections before you cause permanent damage to your social skills
@@jram7047 You know you have nothing to add and you already lost when you have to insult someone like you did. Nice try lmaoooo. It's the internet, it's not that deep. Maybe take your own advice...
Most people have no idea of the fortitude, optimism, and sheer grit that is required of farmers. You have my thanks.
More insightful than a PBS Frontline film in a 1/3 of the time and with no drama. Amazing documentary Cole, well done !
I'm 44 years old and learned more in a 15 minute video than I did in all of high school. Thanks, Cole.
Cole your a good economic advisor, I feel your farm is in good hands, the family is lucky to have your dedication and drive to see you all stay above water. God Bless 😊
That was a great lesson on how financing works! This video should be used in all high school classrooms! Praying that your numbers come to fruition this year! Thanks for the lesson, Professor Cole!😉
Oh my goodness Cole! Your parents have to be so proud of you! So impressive how you are so involved with your family! Thank you for sharing!!!
Cole, I was the last of 5 kids. When I was 16, the bank came after my families farm. Watched the back auction off every thing. Before Farm Aide. Moved into a trailer, in the suburbs After 3 years joined the Marine Corps, Brother joined the Army. I was use to working 7 days a week. He stayed 3 I did 21 + 8 DOD Contractor. Lost use of my right leg, after my 11th ovaseas tour. Good Luck Cole & Family. Don't need to dig my grave yet.
God bless the farmers of the world! May Cornstar Farms continue to flourish and grow!!!! Blessings!!
Compound interest is something everyone should know about as it applies to everything not just farming.
Great explanation in plain English that should be taught in every school not just colleges.
Very well done as always Cole, God Bless...
As a former Ag lender, this is why I always advised my customers to save as much of their surplus in the good years (either in cash, lower LOC leverage, or RE equity) so they can cover years when things don't pencil out, like 2023'.
I spent 25 yrs in banking and last 12 on other side of the desk like you. Very solid presentation of how it all works. Seriously should submit this to high school guidance counselors for consideration. Applies to all businesses. Well done Cole.
BTW you are the ideal client for a banker that is well prepared, detailed and communicates openly. Les owes you some Casey's 🙂
Keep going. Your intelligence amazes me 🙂 excited to see how your year turns out and see how close the numbers were
Great video Cole! I'm both fascinated and perplexed by the economics of farming. You have a stronger stomach than I do for the risk and ups and downs. If I could afford to farm, I'd do it. Thanks for feeding the world through the work you do. Am grateful for farmers. God bless.
Your visuals really help a common person understand how it all works. Thanks Cole.
Thank you for your time! The time it takes to do these videos and the time it takes to explain the business behind your business. It's a window to a world most of us will never see.
Cole, that was an excellent breakdown that translates to so many aspects of life, great job and good luck this season!
The world, especially our youth needs you Cole. Im 39 male. Your such an excellent teacher. Please please please with a cherry on top. Start a finance/learn about money channel.
Thank you for explaining things in a concise and interesting way, I just hope that you can inspire future youth! Our children need good role models and I thank your family for being one of the good ones!!!! GBY
that was interesting if not a little bit depressing - I am always mind-boggled at all the work you do just to stay farming but if you love something I guess its not as bad as working at something you hate -- Kudos to you and the entire Cornstar Family! ♥
Thanks Cole for the simplistic explanation. Farming is a tough business and takes a sharp mind to try and stay on top of it. I hope your bin fiasco gets fixed and you are compensated for the problems. Best wishes.
Not gonna lie, this is sad to hear. Hope you guys have a good year, thanks for sharing Cole
Nice job! I hope you guys have a awesome 2023 You are doing a great job growing. Take a step back and see how much you accomplished so far.
Mad respect for farmers. Thank you from the bottom of my heart for all you do and provide. Your explanation and teaching model really drove home the struggle of farmers, and the grit as well. Farming is definitely not for the faint of heart. Love love love your channel!!
Hard to be a farmer, but it is still the best as you are your own boss! Hope you have a successful year.
I have always appreciated videos like these. They create perspective that benefits everyone. Thanks for the hard work. Continued secess.
Cole produces the best farming videos. There's no way this kid won't be successful.
yep, guy does more work in a day than i do in a week!
Best? ...hardly
Bullshit his grandpa was successful he is a pawn for the bankers that have only money in the game, not their total lives.
@@billynomates920 that your opinion
Hope he is successful. What you have to remember is guys that run their operations like Cole are often the most spectacular failures. Really appreciate how he lays out the general numbers so non farmers can understand what is going on. He left out what his current loan payments are on his bin site and equipment loans. That has to come out of profits as well as living expenses for 3 families. If you leave out the other businesses (RUclips, grave digging) the farm needs to make enough to pay Cole, Daddy, Cooper, and their farm loan payments, and equipment replacement to be considered a going concern. I would venture to guess that would mean they need to average $400,000 a year profit over time.
Wow, you have never been afraid of a hard days work. I enjoy watching each video and look forward to the next! I do miss Nave, what a beautiful person. Please let her know she is missed!!
Love your explanation videos. Some of my favorite content. Always routing for you guys.
This Cornstar dude wow
I knew nothing about farming but started watching the Larson farm channel and now the grave digging Corn farmer.
Wow amazing content and you have really made me look around and think about stuff.Cole your going to the moon with your content and your vision.
Thank you for sharing your personality and providing a very interesting view of your life on the farm.
I am also 64 years old and I love this geeky math stuff. Good luck with your farm.
Have you ever thought of scaling down the size of your operation to eliminate debt and start self financing straight away?
To put it another way, you're projecting a net $ loss. If you didn't have to pay any finance charges would you be making a net positive income?
Always fascinating when you do these Cole. Now it's gearing up time. We are ready for this years planting!
Excellent video Cole. You really help an old 73 yr. old city boy with a family history of Kansas farming understand what you guys have to go through every year.
I am 62 and for the first time understood what I was listening to. Could never get my head round this when I was at school. Thank you for letting me understand it properly. Just wish you would make more videos for you tube and one question how is it going with fixing the bin site really scared when I see any off you up at the top. Please keep up the good work.
Excellent presentation grew up in farming in Michigan now growing palm trees in Florida would love to be farming again getting to young at 68 I'll let you do it your spot on for being a first class farm operation
Now I understand why you dig graves and film you tube videos. You taught me more about business than I’ve learned in all my seventy seven years. Thanks. 😊
as a old family farm guy who's been living in the city for 45 years / we always reinvested but never understood what the operation overhead actually meant. your a smart cookie Cole
It's insane how much work you put into farming, and you never know if you actually make a profit... I don't know how you guys do it, I'd be stressing way too much about it. Keep up the hard work cole, your feeding your country!
Suicide rate among farmers is high, sadly.
Good job Cole. I’m glad to see your farm, and youtube grow. The best part of your videos are when my 7 year old granddaughter calls me to ask if I watched your newest videos.
EDIT: Les is never your friend Cole, but also remember to keep your enemies close.
Bankers are there to generate revenue for the bank. You nailed it.
@@keithfork8663 And if they cant generate that revenue, then they will come and take your stuff.
Where ya been Cole? I’m a junkie on your videos. Well I guess the story’s are true your a new dad congratulations you a Nava will be great parents so I will Waite patiently till you have more time to make more videos your a awesome young farmer
Congratulations!
Oh he has a new baby. No doubt about it.
Don’t know for sure just what I see and read they haven’t denied it
8.5% interest, the bank is going to love you @ 170k in interest/yr, $14.2k/month. You tube must be paying well. I would sell off acres to a developer, reduce your monthly operating expenses in feed, grain, employees, unneeded equipment, structures, heating, electricity, etc etc and/or you have to raise your prices accordingly, or just have land to farm for yourself.
That is unless we the people pay for your farm subsidies, and /or you write-off all business expenses, business losses. I'm hoping you are keeping the farming business in an LLC to prevent any losses to any personal assets.
My .02 cents.
You are one smart cookie!!!! My husband and I are so impressed.
Good Luck this whole year! I've always heard, "If you like to gamble, become a farmer." There are so many variables you can't control.
Nice job Cole. Complicated concepts made easy. Thanks for taking the time to educate us. God bless!
So glad to see you again!
Very impressed even having a father who was a CPA I still think I just learn more on cash flow and finances in this video. Keep up the good work!!!!
So glad you’re back. I hope you had a good break from posting. Missed your uploads.
Thanks Cole for the video! Made perfect sense and cleared some questions up about farming! Always looking forward to your videos! Keep up the good work! God bless
Cole if you lived here last summer, you'd be gray and bald with the stress our farmers dealt with. We've had high amounts of snow, followed with non stop rain. Most farmers didn't get their seeds out until the last couple weeks for crop insurance.
Some farmers resorted to contracting air craft sprayers, and some of those sprayers converted to seed sprayers to help.
In the end lots still recovered, but you can see areas that were prone to flooding didn't make the yield the field can generate
excellent and easy to understand presentation. The number that we all should be aware of is the money paid to the banker, ie. the interest rate. It has almost doubled in the 4 years you show.
Good to see you guys and a good explanation of how it works
You should teach finance! You have a great way of explaining it that everyone can understand! Great job, Cole!
Best way i have heard anyone talk about compound interest risk ratings and the actual impact of the cycle. 100% on Cole, well done, keep going!
Enjoyed this video, opened up alot of eyes 👀 to how a farm works
Hi Cole, The hard reality of farming but on another note when are you going to announce baby cornstar I know you would like some privacy, but it is too exciting, I have been watching you from the start of your RUclips journey, we are your RUclips family just saying, all our love from New Zealand
I pray you guys have a good season this year. 🙏
Very cool video Cole. I appreciate you opening up and explaining to use more of the finances and the behind the scenes of a family farm.
When things are good and the weather is nice banks have all the umbrellas out and open, the first sign of clouds and rain they close all umbrellas pick them up and turn into different people
Just be careful Cole that's big numbers your dealing with!!
best yet...really great explanation of what our wonderful farmers have to contend with!
Will we ever see a video on how you have sued the contractor who threw together your bin site?
Guessing here ..but until the suit is settled,I'm guessing their lawyers have told them to shut up (that will likely be years from now). Don't want to run the risk of saying anything that blows the suit or gets them on the hook for slander.
@@jarrettfullerton2580 👆🏻this is the correct comment for this.
Trucking $36 an acre ×2000 acres. $72K a year. After a few years you could have a new truck and trailer almost paid for. After 10 to 15 years a small fleet of low mileage units paid for. At our farm we always trucked our own crops to save$$
Very simplified explanation that does make sense. The only thing that I would consider bad info is the bank constantly approving of 8.5% interest, as sometimes they want "more" or if your a really good qualified borrower they might go Lower interest. but with the way things are going lower rates might not be possible for awhile, as banks raise rates.
Thank you ! God bless your family!
Part of the reason I watch CtCS is for the operational side of farming so I’m rooting for you. It would be interesting to see a similar analysis of how your farm has grown financially (even in Monopoly money) since you got out of high school or college or whenever you took on the role.
Thanks Cole and your family for being a farmer GOOD LUCK
This was fricking awesome!
Great job explaining the economics.
AS ALWAYS GREAT VIDEO. GOD BLESS YOU ALL IN ALL THINGS. YOU ARE ALL AWESOME.
I sure don’t miss those days of dealing with the bank.
I don’t know why he needs 2 million to plant 2000 acres
@@marlowmccoy6680 Well, this is youtube…..
@Marlow McCoy Girlfriends are EXPENSIVE these days. It's Not 1979 anymore.
@@marlowmccoy6680 did you not follow along with the numbers for input costs? $2,000,000 on 2,000 acres is $1,000 an acre. Seed and fertilizer alone in 2022 was almost $600 per acre. Those costs are expected to be even higher in 2023. I will bet it's projected at least $700. Then you add in fuel costs, maintenance and repair, labor costs, crop insurance, property taxes, etc. You think those costs don't add up to more than $300 an acre?
I know what things cost.All I’m saying is last year’s crop should pay for for this year’s inputs with high crop prices last year.If you have to borrow all your input costs you won’t last. I have all my inputs prepaid with no operating loan.Maybe he needs to do a better job of marketing.
Thanks for going through this, super interesting. Can't imagine the stress of this, but as the banker said, you are your own boss, that is earned by few ppl in this world.
Thanks for showing a real part of Farming!
Keep Smilin!!!!
A great simplified explanation. Figuring out finance predictions in any business is a tough art. I wish I had a basic knowledge on accounting, bookkeeping and finances before becoming self employed.
Wow this the most eye opening and informative video i have seen in years..Excellent Video
Man, you do a great job breaking things down in simplified terms. Keep it up. If you don't mind me asking, what resources did you use to learn about farm finances? I'm about the same age and wish I knew half of what you do on the matter.
pretty sure he has said he got a degree in Finance from either Iowa State or one of the other colleges in his area. proving to be a very wise investment for him, for sure.
Working capital is extremely important! Les knows that. $400k loss is hard on any operation. Build working cap in good years. Contract prices to cover operating costs, ride the market after covering costs. Hard for any operation to operate without a lender with the cost of capital and real estate. You’re a smart man Cole. You can manage through the volatility. Be careful buying higher yields - profit is what’s important. Good luck this year!
Good to see your videos again keepem coming
I expected you to ask the question ... Why do farmers take such risk? But I sure as hell didn't expect to see your banker standing next to you in your home helping to answer that question. Very smart Cole and for Les the banker, my hat goes off to you Sir for helping explain the system we all live with as we produce food for our tables.
Cole, thanks for sharing your numbers. Your expo on interest expense shows you are a Dave Ramsey graduate. Thanks for the great video. I wish you and your family success in the years to come.
I hope you have the best possible year ever!
I saw the baby bottle so let us see the baby! ❤️
Your chart of costs for running the farm just reinforces how much higher food costs are going to go up this year.
One of your best videos Cole! Very well done.
Les always smiles, because the bank always makes their money.
This is the side of the farming business that 99.9999% of people don't know about. Thanks for the comprehensive review.
Great video Coke. So easy to understand
Nicely done, Cole, this should be shown in high schools to give students a basic introduction to farming
Thank you! I have a small business and it's interesting to learn how you operate.
Cole, I really enjoyed this video thanks, looking forward to the next one.
Great job Cole. This would also be a great tool for improving the Ag community and consumer relations. Blessings.
My grandfather farmed most of his life and he explained to me that farmers were taking a real gamble every year. In his day it wasn't Lamborghinis that were keeping young farmers down, it was duded up buggies with green wheels to take Iadies out riding.
Cole, that explanation was spot on. Thank you