Missouri river bottom south of Sioux City, IA | Agree 100%. The reason some did not or will not make adjustments is $8.00 corn and $16.00 soybeans we had in 2012 and 2013. Also the exploding net worth when one added the value of land owned at that time. Average price of Iowa farm land went from $2,275 in 2003 to $8,716 in 2013. On a 160 field that is over a million dollar increases in value in 10 years. With those numbers in the back of your mine and the attitude that it would continue lead to the thought process that bigger is better. Rent or purchase more land at any price and load up with new equipment seem very reasonable. The last four years proved to some that they were dead wrong. The more reasonable thing to do now is pull way back on the reins. For some that means getting off the horse for good. But there will be opportunities for the ones that pulled the reins in hard four year ago. Just need to be patience for now.
Tom N.
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Cash prices
