UNL CropWatch April 22, 2011 Market Journal Looks at the First Steps to Retirement Planning

UNL CropWatch April 22, 2011 Market Journal Looks at the First Steps to Retirement Planning


On this week's Market Journal host Doug Jose visits with Roy Smith, Plattsmouth farmer and marketing consultant, about the corn and soybean markets and what lies ahead.

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April 22, 2011

On this week's Market Journal, host Doug Jose talks with ag experts on a variety of topics.

Corn and Soybean Markets — Roy Smith, farmer and grain marketing consultant, says there is an ongoing struggle between old and new crops and uncertainty on which way the markets will go until planting has been completed. He recommends taking advantage of high prices to sell both old and new crop corn and soybeans.

Environmental Contracts
— For emerging contracts where comparable data is not available, Ray Massey, University of Missouri Extension professor, recommends listing your responsibilities with the environmental contract, the rewards you will receive and the risks you will incur, and then make a cost-benefit analysis.

Farmer & Rancher Retirements — Joy Kirkpatrick of the University of Wisconsin Center for Dairy Profitability suggests the first step in retirement planning is to visualize or fantasize about the future and start discussing it with family members.

Tenant/Landlord Relations — Kevin Dhuyvetter, Kansas State University Extension state leader, says full communication between the landlord and tenant is the key to successful land leases.

Weather — Al Dutcher, UNL Extension statewide climatologist, says weather will be more of the same for the first part of the week. As we move into the end of the week, warmer conditions may prevail.

Next Week

As farm sizes and the value of farm assets increase, complete and accurate farm records and the analysis of those records become more critical. This week, we will discuss the role of farm women in that process and the value of a team approach when visiting with lenders.

Market Journal Broadcast Times

Market Journal -- television for agricultural business decisions -- is funded, in part, by the Nebraska Soybean Board.

View this week's program, as well as previous programs, online at marketjournal.unl.edu and watch for future broadcasts on these networks.

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