Financial planning for the upcoming growing season
Farm Credit Mid-America Regional Vice President Brock Burcham is encouraging growers to begin financial planning for the 2022 growing season.
“The major one is knowing the cost of someone’s operation,” he says. “We’re spending a lot of time right now sitting down with our customer base and making sure they understand their breakeven so they can best market their grain to try to ensure some profit or maximize profit in the next year.”
He says harvest is well underway but “we’re excited about that, but we also like to think proactively to work with our operations to get them ready and plan for things that are maybe unforeseen.”
Speaking to Brownfield at Farm Science Review, he also discussed the Patronage Program.
“Patronage is another word for the capital we turn and give back to our customer base and being a cooperative we are owned by our customers,” he says. “We’re excited because over the last 5 years, we’ve paid back $648.5 million dollars and in 2020 alone, we paid $200 million across our four charted states with $56 million of that going to Ohio operations.”
Farm Credit Mid-America is a financial services cooperative with 80 offices across Indiana, Ohio, Kentucky, and Tennessee.