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SE MN | $60/acre for a corn/bean farm sounds like a lot to me but everyone is different. That would be an operating loan at $500/acre borrowed to the max for a year at 8% and another $20/acre interest on machinery. That's assuming there aren't machinery leases that don't show up as interest that also need to be paid.
But again, everyone is different. Some guys that do a good job marketing and also grow a big crop can probably handle more. Some can't handle $1/acre of interest. | |
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Interest on operating debt
