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Might as well jump in myself!
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Ben Riensche
Posted 1/3/2009 17:26 (#556139)
Subject: Might as well jump in myself!


Jesup, IA
I thought you just as well get some of this straight from the horse's mouth....

1. Thanks to you who came to my rescue. You are true friends.
2. The WSJ came looking to write a story on farmings "new and unending" prosperity. That changed when I showed them my crop budgets for 2009. They were astounded when I showed them how much had changed in just four months since corn futures tickled $8.
3. If you read the article carefully, my contribution was only 6 one sentence quotes. The rest was the author's words and analysis.
4. For those of you who wonder how I farm, you are invited to visit. My HQ is 7 miles SW of Jesup, IA. Please stop by.
5. I have four kids. One son, three daughters. I expect my son and #2 daughter to farm someday.
6. The WSJ reporter just couldn't get his hands around the difference between Schedule F income and net worth increases. Discussions of what Section 179 capital purchases, deferred grain sales, prepaying expenses, asset appreciation were all lost in the interview and final article. My Schedule F income was low six figures, but if everything works out as planned, someday I might be the richest guy in my church's graveyard! Schedule F taxable income is not the same as net profit.
7. I am a cash rent wallflower. I will not interfere with an existing tenant/landlord relationship. In an effort to spend more time with my kids age 6-15, I have only added the acres that have walked in the door during the past four years.
8. My Dad, three fantastic career employees and I farm the 10,000 acres. On paper, 5500 acres is mine. 3,500 is Dad's (78 and going strong) and 1,000 is custom work.
9. I do prefer to buy land. You have no idea how many times I have had to tranquilize my banker when I explained to him that I took all my extra working capital and plunked it down on a farm downpayment. I thought this would be the season that now that some of those first mortgages got burned, that I could use the free cash flow off those farms to buy a little more. Instead, it looks like that money will be needed to balance the books in 2009.
10. I have never taken one dime from my prior banking career and invested it in my farm. In actuality, I really just got through paying my grad school loans off when I lost my brother in 1992 and returned to the farm. What little $$$ I had saved while banking is in a rollover IRA and lost about 40% of its value since September!
11. My costs of production include the rental value equivalent of debt free land, a reasonable charge for the use of my equipment, etc.
12. The comments made about current grain market prices do not reflect my marketing plan. Again, the fact that I was delivering grain that was previously hedged was lost in the article.
13. Yes, I should have married Jenny Craig, not a woman who can cook. I envy you skinny dudes. I need to work less and excercise more. I should lead a less stressful life and watch my diet. For my friends who came to my rescue, you need to give me a harder time about this.
Finally, In consenting to be interviewed, I was personally hoping that the message would get out that farming wasn't all milk and honey, even with the grain market highs this past year. It's interesting to see how the article turned out and how you guys in this industry percieved the story as told.
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Ben Riensche
Posted 1/3/2009 17:33 (#556146 - in reply to #556139)
Subject: Re: Might as well jump in myself!


Jesup, IA
Sorry AgTalkers, I am new to this forum, and accidently posted as a new thread instead of the one that was going in regards to the Wall Street Journal article. Here's the link to the story...... http://online.wsj.com/article/SB123059685167541039.html
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Lightning Inc.
Posted 1/3/2009 17:50 (#556172 - in reply to #556146)
Subject: Welcome Ben!


Concordia,Kansas
Let me be the first to welcome you here!!!! I think you did a VERY good job defending yourself. People don`t realize that the reporter dose everything in his power to make the story sound the way he wants it to come out.

My classic comment to everyone that wants to question the way I do things is "Get out your checkbook, it for sale, you can run it your way then!"
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robaer1
Posted 1/3/2009 18:15 (#556212 - in reply to #556146)
Subject: Re: Might as well jump in myself!


thanks for sharing!!!
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illfarmr
Posted 1/3/2009 17:50 (#556173 - in reply to #556139)
Subject: Excellent post!!!


Central Illinois
Thanks for sharing the info. I can personally vouch that many writers already have their story written before they come to your doorstep. All they are looking for is a name and face to put with their article. In the context of your post, the article changes a great deal. Don't let the a$$es here give you too rough a time. However a little good natured kidding is required.
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Badger
Posted 1/3/2009 17:52 (#556175 - in reply to #556139)
Subject: Old story


Huntley Montana

 The higher the monkey in the tree the more visable his BUTT is. 

 Lotta farmers have NO idea on what thier "true costs" are.  They don't figgure on what thier eqptment  & land costs are for the "paid for eqptment & land".  as long as they pay the operating loan off, they "made money" .

 

 I'm kinda the same , If land is offered I'll rent it, but I don't go "sniffing under the neighbors fence".

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John 86
Posted 1/3/2009 18:37 (#556231 - in reply to #556175)
Subject: RE: Old story


Seaforth, Ontario
Better a monkey than thongboy. Thanks for stirring up a bad memory, Badger.
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msb
Posted 1/3/2009 18:08 (#556198 - in reply to #556139)
Subject: Re: Might as well jump in myself!


Lapel, In
HEY! Welcome old friend. Hope you stick around these parts. We could all benefit from having a guy with a mind like yours here often. Now if we can also keep Ken around and get Senior Citizen more involved,why it would be Utopia. lol.


"The higher in the tree ???" LOL. Good one Badger !
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SeniorCitizen
Posted 1/3/2009 22:18 (#556530 - in reply to #556198)
Subject: Re: Might as well jump in myself!


Learned early to be very wary of any media. In my opinion, the WSJ in the old days was one of the worst....I finally made it known I would only give TV interviews if there was no edit & usually killed the request & a young print reporters with no ag background were always trouble, usually the females were the worst....usually talk radio is good & the established ag magazines as those fellows usually have some awareness. Richard Nixon once observed, due to Watergate, America was going to be swamped with investigative reporters with social educations versus a science or business education. He hit the nail on the head in my opinion.
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nwiafmr
Posted 1/3/2009 18:36 (#556229 - in reply to #556139)
Subject: RE: Might as well jump in myself!


Woodbury county
Very much enjoyed your post.....hope you stay with us and contribute more from time to time....!
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beh
Posted 1/3/2009 19:17 (#556294 - in reply to #556139)
Subject: From a guy that was a little hard on you


Heil Harvesting, Ulysses KS/Limon CO
I apologize.

I should have realized that a story like that was intended to push someones agenda, though I generally hold the WSJ to a higher standard than most papers.

My comment was not out of line had the story actually represented the facts, but it didn't, and I did not see through that.

I am sure that you got to where you are by doing things right and will continue to do so!

I wish you the best, 09 and beyond. How bout I buy you a beverage of your choice in KC here in a couple weeks. We would love to have you join us.

Excellent post.
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guypatrick
Posted 1/3/2009 20:46 (#556415 - in reply to #556139)
Subject: RE: Might as well jump in myself!


North central, IA
Hi Ben - Thanks for posting and for being such a good sport about some of the things that were said in the other thread. You are obviously a good-natured guy and hopefully your demeanor here will disarm some of your detractors. I nearly posted on the other thread, not really to defend you since since I don't really know you, per se, but just to say that I remember you as just a regular guy with the same aspirations, faults and foibles we all have. We lived on the same dorm floor at Iowa State before you pledged AGR.

I hope you take the time to stick around here and contribute. I'm sure we could collectively gain from some of your experience and I'm sure you would gain from the discussion.
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Oliver1
Posted 1/3/2009 21:30 (#556472 - in reply to #556415)
Subject: When and where??



Alton, Ia
Dorm floor details.
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guypatrick
Posted 1/3/2009 22:47 (#556565 - in reply to #556472)
Subject: RE: When and where??


North central, IA
It was either the third or forth floor of the dorm northwest of Linden. Is that Birch? My memory of that time is kind of hazy for the reasons you might suspect. I only lived there 2 quarters and I think Ben was maybe just there for one quarter. Either that or he started in the winter quarter. Maybe back in the Farm Op days?

I started in the fall of 1980, dad had a hip replaced in Feb so I missed the spring quarter to go home and farm then went back and kind of diddled around for two more years, taking light loads and dropping classes(lived off campus), met my bride, kicked it up a notch and graduated on time. 21 credits in the fall semester of senior year and 24 credits in the spring, I guess paying for my past misdeeds.

You are also an ISU Alum?

Edited by guypatrick 1/4/2009 00:04
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Oliver1
Posted 1/4/2009 10:03 (#556862 - in reply to #556565)
Subject: RE: When and where??



Alton, Ia
Yep. Lived in Linden Fall 82 to Spring 86. It was Birch Welch Roberts hooked together, I believe you are right and Birch was the South one. I paid more attention to the girls dorms :)

Then moved to a duplex at 1315 Ontario Circle, IIRC, to finish out. That was NW of campus. Me and 3 other guys, my sister and 3 other girls lived in other half of duplex, made sharing MY car easy.
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west illini
Posted 1/3/2009 21:05 (#556440 - in reply to #556139)
Subject: Thank you for joining us.


IL
No body knows what everyone elses circumstances are deep down, and I thank you for clearing what you felt needed to be cleared. It is real easy ( me included) to form opinions by jus looking at a page in a magazine.

Thank you again
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Bmac
Posted 1/3/2009 21:18 (#556452 - in reply to #556139)
Subject: Since you are here on the Mktg page


Clark County, SE Illinois
I'd love it if you would stick around. Unless I have you confused with someone else I believe you try to sell in even increments throughout the year. Sort of an automatic program. I would be interested in hearing if you still market the same way with today's volatile markets.
Any time I read a story about which I have personal knowledge in a newspaper or magazine I am amazed at how many things they get wrong. It is also dangerous to think we know a person from a short article. Thanks for reminding me of this.
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farmertim
Posted 1/3/2009 22:33 (#556547 - in reply to #556452)
Subject: Re: Might as well jump in myself!



New Madrid, MO
Welcome Ben !!!!! Thanks for posting !!! Reporters always twist things around to make the story come across the way THEY want it to not the way it should be told !!!! Everyones farming operation is different....... there are no two alike !!! Please stick around & join in, it's aways good to look at things from someone elses point of view. There's a wealth of knowlege on this site & I'm sure you can contribute to it !!!!

Tim

Edited by farmertim 1/4/2009 20:17
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tim ar
Posted 1/3/2009 23:09 (#556587 - in reply to #556139)
Subject: Re: Might as well jump in myself!



Holly Grove Arkansas
Some people see 10,000 acres and instantly decide they don't like you. Many despise accomplishment and worship mediocrity. The irony is many of those who despise you for your acres would jump at a chance to add to their acres.
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farmertim
Posted 1/4/2009 00:23 (#556670 - in reply to #556587)
Subject: Re: Might as well jump in myself!



New Madrid, MO
Tim, you didn't by any chance go to ASU did ya ??????
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tim ar
Posted 1/4/2009 11:24 (#556943 - in reply to #556670)
Subject: Re: Might as well jump in myself!



Holly Grove Arkansas
No, after High School I attended Hard Knocks University.
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farmertim
Posted 1/4/2009 14:58 (#557187 - in reply to #556943)
Subject: Re: Might as well jump in myself!



New Madrid, MO
He He !!!!!!!! Took a few classes there myself !!!!!!!!!!! LOL
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Buckwheat
Posted 1/4/2009 01:18 (#556719 - in reply to #556139)
Subject: RE: Glad you showed up Ben....................



Four Kids and you, I'll bet your wife is a helluva cook.............I like home cooked meals myself!!

It is impossible to compare costs, particularly on a website and or newspaper interview..................as Badger said,,,,,,,,,,,some people are tickled just because they paid thyre operating note off..................they probably lost money and they dont even realize it........................

Opportunity Cost,,,,,,,,,,,,,,,,,,,,,,,,,,,I learned that term as a freshman in College......................if you dont include that in your total cost, how in the heck do you know how you ar e doing>>>>>????????????

Anyway,,,,,,,,,glad you gave the city slickers a "clue" on how FAST things changed in production agriculture this year...........it was/is mind boggling..............myself I dont think the mind boggling stuff is over yet>..................

Hope your family and you have a good 2009....................................if you have a good banker and a good broker things are looking good actually!!!!!!!!!!!

Buckwheat
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Dennis SEND
Posted 1/4/2009 01:46 (#556729 - in reply to #556719)
Subject: Be shure you know the rest of story before judging people



A good friend of mine took his life this spring after falling on tough times and going through a nasty divorce, in his last letter he wrote to his family/friends he said "To all the people in the community who showed concern for me, I want them to know how special they are and that they certainly carry God's grace with them. To those who turned their backs on me, I am sorry I disappointed you and maybe someday you will find it in your heart to forgive me." Everyone please think about this satement and consider the people you meet and read about in your life and how you may make a judgement without knowing the whole story of that person. Dennis SEND

Edited by Dennis SEND 1/4/2009 01:47
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JonSCKs
Posted 1/4/2009 10:11 (#556871 - in reply to #556729)
Subject: wow that is a powerful statement.


"To all the people in the community who showed concern for me, I want them to know how special they are and that they certainly carry God's grace with them. To those who turned their backs on me, I am sorry I disappointed you and maybe someday you will find it in your heart to forgive me."

Thanks for sharing that.

I know that I'm guilty of "firing away" on the internet over pretty pointless things.. maybe something that is just a pet peeve of mine that I don't really give enough thought to how someone else might take it.

We must admit that there is a lot of pressure/anxiety today especially given the economy.. I was in a store yesterday at the mall where posted on the register was a note that basically said.. "all the rumors of this stores impending demise are not true.. we are and will continue to be a going concern." Couple that with the stories on CNBC about the number of retail outlets that could fold after the holidays...

Well I noticed that one of the employees watched me read the letter.. they were not very busy.. She then turned and mentioned to the other sales person that she was going to the back to "clean up."

My hunch is that they won't be in business in a couple of weeks. Granted I don't know.. which is one of the points.. but we need to encourage and help one another as much as possible. I didn't find much in this store that we needed.. however I do wish them well. As much as possible we need to help one another and not add to one anothers burdens.

Look for signs and be a little "in your face" to offer grace and support. I would guess that this person that took his own life is greatly missed and whatever mountain of a problem he felt was really something solveable that people would have helped him through.. we need to look to do more of that for one another.

I of course need to follow my own advice. "uhum."

btw... good discussion and welcome Ben.
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tigger
Posted 1/4/2009 08:45 (#556815 - in reply to #556139)
Subject: RE: Might as well jump in myself!


Iowa

OK, you asked for it, so here are my general suggestions for getting your health under control:

My wife also likes to cook.  I like to eat.  The only good solution I've found is to burn off some extra calories via exercise.  We've sort of made it part of our lifestyle.

First, get your life insurance positioned as you wish if you have not yet done so.  The reason I say this is because once my doctor learned of my extracurricular activities and family history, he ordered a bunch of tests with the cardiologists.  I passed the tests with flying colors, but had a really hard time explaining why I was there three times while trying to get preferred rates for life insurance.

Second, go see your doctor for a regular physical and make it known you are serious about starting a significant exercise program.  Make sure any health concerns in these regards are considered.

Third, start doing something.  It needs to be something that gets your heart rate up to elevated, but safe levels and burns some calories.  Your doctor can tell you what that heart rate is and how long you need to keep it there.  You can get some strap on heart rate moniters to wear.  Some have gps.  I'd suggest walking.  Maybe take your family members for a regular walks.  My neighbor does this.  It gives them some time together.  Go for some walks in area parks to break up the routine.  Start out slow and with short distances for about three times per week.  Pushing hard enough to make yourself sore would be counter productive at this point.  If you do get sore in one area, some cross training with weights or something else can help to maintain progress while you recover.

Fourth, set some goals and make some plans.  You obviously know how to do this.  Make it fit in with the rest of your life.  I'd suggest seeing the doctor and getting started before planting season.  You'll likely fall off the wagon once planting season starts, but hopefully you will have gotten a good enough taste for the exercise to be yearning to get back to it as soon as you can.  It sort of makes one feel alive.  Fill out an entry form for a 5K event before the summer ends.  Even better, you could do several of them.  I know Jesup has one, but there is one somewhere nearby every weekend.  There is nothing like having your name on the bottom line to make you finsih what you started.  You do not have to run it, and I would not suggest that you do at this point.  You can just walk it.  Lots of people walk.  You can get to know them a little by the time you cross the finish line.  You never know who you are going to meet at these things. Take your family along if you like.  Try to watch what you eat a little during harvest.  Chew some gum if you feel like sticking something into your mouth.  Even if it only works half the time, it will make a difference.  Get back on the program.  Sign up for a 5K next year and maybe run it this time.  Set some new goals, maybe in conjunction with some sort of adventure family vacation.  The best way to see a mountain is to climb it. 

Once you get in better shape, renegotiate your health and life insurance policies.   

 

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SeniorCitizen
Posted 1/4/2009 09:53 (#556857 - in reply to #556815)
Subject: Re: Might as well jump in myself!


Tigger, I suggest you pass your helpful and thoughtful counsel to Buckwheat. The last photo I saw, he'd put on a few pounds.

Me. I like to imagine all the exercise I "could be getting" & am heavily insured & utter the occasional fib to my young doctor & do press the button several times a day to execute trades, walk back and forth to fill my coffee cup during an 18 hour period (gallons--I found some really great African beans...I sense my heart jump after the first sip)....and try to avoid eating chicken as I posted months ago.....my 1970 loss in egg futures was so severe I break into tears at the sight of poultry.
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tigger
Posted 1/4/2009 10:46 (#556903 - in reply to #556857)
Subject: Re: Might as well jump in myself!


Iowa

Buckwheat did not ask for it.  Perhaps Richard Simmons stationed in the kitchen would have the same effect. 

I've tried a commodity trading exercise program.  It certainly can get the heart rate up pretty good.  You can get a strap on heart rate monitor with an alarm that will go off when you exceed your target rate.  The problem for me is the associated margin calls can get expensive.  I was not very good at it, but can still afford a pair of shoes.:)   

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COdrylander
Posted 1/4/2009 10:03 (#556861 - in reply to #556139)
Subject: Re: Might as well jump in myself!



NE CO
Thanks for posting Ben. And starting a new post was certainly appropriate too, as the number of responses indicates. And in fairness to you, I didn't think the WSJ article missed your point that farming isn't all milk and honey. Sure, they didn't understand any of the finer points, but neither will the readers, even if the details are included. Most readers quickly scan articles and move on to the next page. Good for you for making the effort.
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Mark (EC,IN)
Posted 1/4/2009 10:18 (#556879 - in reply to #556139)
Subject: RE: Might as well jump in myself!



Schlegel Farms, Hagerstown Indiana
...Ben...

Welcome to the site. You sound like a farmer that I would be proud to call my neighbor. Actually I wish I was your neighbor. I always said that if my ancestors had kept walking west, for a couple more days, I wouldn't be farming all these red clay hills (LoL).

In all seriousness, I'm sure your input, on this site, will be welcome.

....................................................Mark

Edited by Mark (EC,IN) 1/4/2009 10:19
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Pofarmer
Posted 1/4/2009 12:06 (#556978 - in reply to #556139)
Subject: Man



Should change the name of this to the butt kissing thread.
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buckshot
Posted 1/4/2009 19:08 (#557474 - in reply to #556978)
Subject: RE: Man


i do not think that i have ever seen a small dog hunch a guys leg as bad as the majority of posters on this thread do when they are petted on the head by some bto.


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Lightning Inc.
Posted 1/4/2009 20:08 (#557535 - in reply to #557474)
Subject: GROW UP!


Concordia,Kansas
You all need to loose the atitude!

Like the old statement goose, anyone is a BTO if they are bigger than you. The MAN came on here to set the record straight. Like it or not he had the courage to stand up and say what he thought!


If your so awe struck with being a BTO, I know where several operations that would make Ben`s look small are that could be bought. Just get out your checkbook! I would imagine that you would find out real quick that you don`t have the stones to run with the big dogs, my advice is to stay at the house and let the men work!

Emails live!

Edited by Lightning Inc. 1/4/2009 20:09
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MU1979
Posted 1/4/2009 20:24 (#557560 - in reply to #557535)
Subject: Re: Might as well jump in myself!


Missouri
Read each and everyone, enjoyed and laughed at many. Welcome Ben sure glad you stood your ground. Good work guys.
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mikey
Posted 1/4/2009 20:33 (#557572 - in reply to #557560)
Subject: Re: Might as well jump in myself!


north central Iowa
Are the BTO s for sale due to the fact that congress is talking about lowering the payment caps??
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Lightning Inc.
Posted 1/4/2009 20:44 (#557593 - in reply to #557572)
Subject: Re: Might as well jump in myself!


Concordia,Kansas
Most bigger operators I`ve talked to wish they would just quit payments all together!
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plowboy
Posted 1/4/2009 22:02 (#557744 - in reply to #557535)
Subject: RE: GROW UP!



Brazilton KS

Kent, I'm surprised you haven't figured this out yet. 

Some people on this site are just a$$holes.  

The chances that they will actually stand up and put their money where their loud mouth is are approximately zero.  

All they ever want to do is attack anyone who is actually out there doing anything and go on and on about how terrible they are in a feeble attempt to make themselves look 'better' by comparison.  

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Lightning Inc.
Posted 1/4/2009 22:09 (#557767 - in reply to #557744)
Subject: RE: GROW UP!


Concordia,Kansas
Yea, but that is the Daddy`sboy swich!


Like you said it just shuts them OFF.




Tire thumping anyone?
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Pofarmer
Posted 1/4/2009 22:45 (#557838 - in reply to #557767)
Subject: Lighten up



I wasn't making any kind of comment on the poster, just some of the commenters.
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coup
Posted 1/5/2009 06:54 (#558059 - in reply to #557744)
Subject: RE: GROW UP!


USA
Plowboy , you need an attitude adjustment and need to follow the advice your wife posted.
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plowboy
Posted 1/5/2009 09:25 (#558185 - in reply to #558059)
Subject: RE: GROW UP!



Brazilton KS
I thought I was specifically talking to Kent, but what part of my observation do you think is in error?
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coup
Posted 1/5/2009 20:24 (#558928 - in reply to #558185)
Subject: RE: GROW UP!


USA
I don't see the purpose of calling people on this site a-holes, just because you don't like what they say. Seems to me, anytime someone says anything negative about somebody that farms on a large scale you get kind of testy.

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plowboy
Posted 1/6/2009 00:46 (#559427 - in reply to #558928)
Subject: RE: GROW UP!



Brazilton KS

So, you contend that the statement is false?  I've never yet found a group of people this large where some did not fit the definition. 

I "get testy" when people start making statements about other people with no foundation, based simply on the fact that those other people have achieved some sort of scale or notoriety.  The people who do this meet my definition of not-real-bright, because they are making ASSumptioins which they cannot back up.  In this case, I will take the endorsement by msb as conclusive evidence that those attacking 'the new guy' are full of it.  Bob has far too much class to stoop to attacking someone who isn't even here, but there is no way he would jump in to defend them if it was not warranted.  He would simply remain silent.  

Show me one instance where I have 'attacked' someone who had not already been engaged in attacking someone else without any foundation.  Maybe they make some snide remark implying that they have some reason, but they NEVER present anything credible, they just say things like "you'd agree if you lived here."  I say bull stuff.  I WOULD NOT agree if I lived there, because I don't act like that. People who come on here and start attacking others for no reason are a$$es by my definition.  This is not something I have made up without merit, as they like to do when they are attacking people, it's a title they EARN through their actions.   If you come on here and attack some other farmer who is not even here to state his case, I'm going to call you out on it.  If you want to call me names because of it, I guess that's your perogative but 95% of the people are smart enough to see where that splatters. 

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buckshot
Posted 1/6/2009 20:02 (#560449 - in reply to #559427)
Subject: RE: GROW UP!


to plowboy, son many of us on this site realize that you are young and somewhat immature at times, but i have saw a few posts that you made when you are able to keep your temper under control that were very right on. now if you think that you were specificly talking to kent you maybe ought to use the telephone or e-mail this gentleman because there a lot of other people that read this.

Edited by buckshot 1/6/2009 20:07
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plowboy
Posted 1/6/2009 20:14 (#560470 - in reply to #560449)
Subject: RE: GROW UP!



Brazilton KS

Brad is young.  I wish I was young.  I am NOT your son.  You are making me laugh.  Thanks!



Edited by plowboy 1/6/2009 20:21
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beh
Posted 1/4/2009 23:26 (#557906 - in reply to #556978)
Subject: Re: Might as well jump in myself!


Heil Harvesting, Ulysses KS/Limon CO
I bought the hype of the article, and i gave my opinion which was based on me buying into the hype. I apologized for doing so. Does the apology make me a butt kisser?
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loran
Posted 1/4/2009 20:36 (#557579 - in reply to #556139)
Subject: Ben


West Union, IOWA FLOLO Farm 52175
Ben, glad to meet you neighbor. Wife actually spent 2 years living in your neighborhood at an uncles place that I'm guessing is pretty close to your location..

Very nice way to introduce yourself, under the circumstances--loran
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mwsfarm
Posted 1/4/2009 21:59 (#557736 - in reply to #556139)
Subject: Re: Might as well jump in myself!



NW ND
welcome, ben, I haven't read the other post yet, will be able to now in context. This is a great place to learn, and see other's opinions (even if they are wrong, like REX) :)
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plowboy
Posted 1/4/2009 22:05 (#557752 - in reply to #556139)
Subject: RE: Might as well jump in myself!



Brazilton KS

Ben, sorry to see you introduced to our little community in such a distasteful way.  I hope you will believe that while there are always a few jerks in any community, most of us are pretty decent sorts. 

 

At any rate, anyone who is endorsed by msb as he did you is obviously not deserving of this sort of treatment.  

 

I hope you will stay around and join in the community.  

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Ben Riensche
Posted 1/5/2009 01:10 (#558009 - in reply to #556139)
Subject: Re: Might as well jump in myself!


Jesup, IA
Wow, you cover some ground over here on this sight! Can't believe all the posts. Thanks for all kind remarks and welcomes after "making my stand." Just a few wrap up comments.

1. BMac, yes, I'm the guy who markets a little all the time. I put together a presentation on this for a Top Producer conference in 2001, and I'd have to take my socks off to count the number of follow up requests for the presentation. It's not rocket science, basically, I'm a what a mutual fund buyer calls a "dollar cost averager."

Marketing was clearly my weakest skill. Some farmers have a real gift at picking market tops and bottoms, not me. I always got scared and sold near the bottom. I'm more comfortable with finance, agronomy and fixing farm equipment. So, I got thinking I could solve this by functioning more like the bank I came from. They take money in at, say, 4%, lend it out at 6%, then work on minimizing costs to pocket as much of the spread as they can capture.

My take on this is that I sell evenly throughout the year (knocking out some traditional low weeks, like during harvest), try to beat the average by a little, then work on things I where I think I can have more of an impact, like minimizing costs or bettering yields. Not perfect for everybody, but it works for me.

2. I'm going to stick up a little for the WSJ reporter. Scott Kilman, the reporter, trailed me from dawn to midnight (when I always check the corn dryer) for two days and must have called or emailed 20 times after that to put together his story. He worked very hard on his homework. I'm sure the current upstream at the paper was to write some article detailing the excesses in 2008 agriculture that should have been called "Farmers Gone Wild."

By mid morning on day two, Scott, who at my suggestion visited my fertilizer supplier and my primary grain buyer, came to the surprise conclusion that this thing had peaked. I'm sure his editor shoved the first few drafts of the article back across the desk and said "dude, this can't be! Beans are in the teens."

If you go back and reread the article, just imagine that you are urbanite riding the commuter train into downtown Chicago or Manhattan and don't know a thing about agriculture. Your prejudice is that farmers are all hicks getting rich off government subsidies and have little or no risk in their business. Farmers still get paid to plant nothing, right? And on top of all that, your grocery bill just went through the roof because farmers were all selling their corn for $7 to some farmer owned ethanol plant that was sucking up the govt funded blending credit like pigs at a trough, making those lazy hayseeds even richer. Now, in that context, I don't think that the WSJ did us farmers any disservice in telling that our business has a tough year ahead.

3. BTO? I don't feel like a BTO. I really appreciate the comment that we are feeding 5 families (plus augmenting the income of some great seasonal workers, mostly students and modest pensioned retirees) out of this operation. If you do the math, that's 2000 acres per family.

Instead of five little combines, we just organized in way that we can do it with three big new ones and still cut our costs. A little scale also goes a long ways in penciling some pretty heavy overhead costs, like a good shop, service equipment, a commercial sized sprayer, etc. Again, I really feel more like 5x 2000 acre farms grouped for efficiency than some behemoth farm. If anybody wants to discuss this, at the moment I'm really feeling "peaked" at this size because of management and technology reasons.

Also, when I think back, our family farm has morphed from being a dairy farm pre-1950, a cattle feeding operation in the 60's and 70's, a hog business in 80's, and since then a cash grain outfit. For a number of reasons, I believe our run in cash grain (as well as the whole "cash-rent the world at any price" thing) may have run its course and it's time to reevaluate where we want to be in the farming business.

4. Budgets? Did someone say $5 corn / $11 beans seems a little high for a breakeven? That was just some generalizations the author grabbed out of conversation for the article. At the moment my pinpoint breakevens are $4.50 for corn and $10.50 for beans with rent in the low $200's and using my five year average yields. This little rally since early December keeps getting us closer to this point.

Thanks again for the "welcomes" to this site. Looks like time to start a new thread if anybody wants to further discuss the above.
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notilltom
Posted 1/5/2009 01:19 (#558013 - in reply to #558009)
Subject: Re: Might as well jump in myself!



Oswald No-Till Farm Cleghorn, IA
Ben,

Nice to "meet" you here I certainly hope you stay around as well as it was nice to see Ken R. on the chat again. You better watch the addicting farmer chats, our mutual friend A.K. might tell you you should read more good books and get more sleep. :)))

Dittos on MSB from plowboy.... never forget some personal chats with that gentleman at National No-Till Conference a few years ago.
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Pat H
Posted 1/5/2009 09:33 (#558194 - in reply to #558009)
Subject: So you're not from another planet as was suspected...


Just kidding, but it looks like you represent more of the large family farm model rather than the 'how much land can I rent' model and it looks like diversification may have been the engine that got it started. It seems like most of the successful farmers in my area had animals at some point - usually a good way to get assests paid for and a lot of work. Of course it sounds like you are not nearly exciting enough (ie. no rent too high, I'll be at 50K acres in 6 months) to get into a magazine with a good description of your business (or I missed it). However, your model is likely the one that is sustainable (what I'm interested in) - owned assests bought with years of hard work - again just not very exciting, but the one that should be talked about. Of course, it's hard to get 30 yrs of livestock history without actually doing it - totally unexciting. I think I'll keep raising hogs and see what happens.


Thanks for posting,

Pat

Ps: I have similar wife problems and are only compounded if they watch the food channel.
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