Jessica Groskopf

For most farmers and ranchers, a checkbook register remains the main ledger of accounts for their operation. However, properly maintaining a checkbook register is a lost art.

A new Nebraska Extension program will work to connect new and beginning farmers and ranchers with retiring landowners who are interested in transitioning their land to a new owner.  

Nebraska Land Link is now accepting applications from interested land seekers and landowners, with the goal of providing land access using lease agreements, lease-to-own arrangements, buy-sell arrangements or other creative methods that are mutually beneficial for both parties.  

Commodity marketing has its jargon. Common phrases you may hear are “nearby,” “deferred,” “new crop,” and “old crop” contract.

The events of 2020 caused large fluctuations in the Nebraska corn market, with cash prices reaching levels rarely observed. From cash prices in some areas approaching $2.50 following planting, to bids around $4.50 immediately following harvest, 2020 certainly had its up and downs. This variation in cash price is a result of changes in both futures price and basis. In this article, we will look back at the influence this year’s events have had specifically on Nebraska corn basis.

Commodity marketing has its own lingo designed efficiently and effectively convey information. One of the first skills that you will need to pick up is how to read trading codes. Let’s walk through an example. 

The following trading code describes the December 2021 corn contract:

ZCH21

In this simple 5-character code, one can determine the commodity being traded, the platform, the month and the year the contract expires. Let’s walk through an example.

One major concern of farming and/or ranching operations is the liability of semi-trucks and equipment when they are involved in a traffic accident.

How can I reduce my liability?

The first step to reducing your liability is to ensure that you have selection process for drivers, obtain background checks, maintain vehicles, and follow transportation regulations. Having documentation of these processes will also help, should your vehicles be in a serious collision.

Do my drivers or I need a CDL?

COVID-19 is causing us to experience events that have always been possible, just not yet observed. For farmers, these events may have a big negative financial impact, or they may not. The impact on each individual farm has to do with how that individual farm has prepared for rare financially devastating events. Preparing for unseen events represents a logical approach. We call this approach stress testing. Just because you have not seen an event, it does not mean it does not exist. Or said another way, absence of evidence is not evidence of absence.