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Poll, How many of you can completely self-finance next year's crops?
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rab1964
Posted 9/7/2014 08:58 (#4060291 - in reply to #4060274)
Subject: RE: Poll, How many of you can completely self-finance next year's crops?



Tiler - 9/7/2014 07:50

No, been at it for 44 years and still find the need to use some OPM. Seems to work, even in the '90's. Used 6% money to buy seed and fert at 10-15% cash discount. Paid off line as old crop moved out of bins. Borrow 6% money for 3-7 months to get 10-15 % discounts. That is like, I give you $.75 and you give me a dollar back.


A very good response! Borrowed money does not make you a failure, it's just part of business. I'm guessing an awful lot of people could self-finance if they sold all of their crop out of the field and never pre-payed any expense. They also would leave a lot more money on the table than the 3-4% interest they would pay. Makes me no difference at all but I will keep borrowing, within reason.
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