Arlan Suderman Speaks at Big Iron Farm Show

by Heather Lauf September 13, 2013

Arlan at Big IronOur Senior Market Analyst, Arlan Suderman, spent some time in West Fargo, North Dakota this week at the Big Iron Farm Show talking with farmers there about the markets. Here, he interviews with Red River Farm Network's Randy Koenen during the show.

You can listen to Arlan's market commentary on our website. He does closing audio analysis each day.

Illinois Farmer Puts Together Risk Management Plan with Water Street Solutions

by Heather Lauf September 5, 2013

PJ and Char Thompson 1PJ and Char Thompson of Little York, Illinois work with Water Street Solutions in several areas of their farm operation. They talked about how working on the financials of their business with Water Street has helped them keep track of important information:

"We were looking for someone to put the total package together for us - accounting, financials, marketing and bookkeeping. We're getting that all put together with Water Street to manage our risk. Our advisors are good listeners and very organized. They help keep us on the right track so information flows as often as possible.

Doing bookkeeping with Water Street is more efficient and accurate than what we had used previously. They've helped us to become more detail-oriented with documenting our expenses. We wanted to partner with Water Street for bookkeeping because it's one less thing for us to have on our minds. We wanted one company to handle everything - and Water Street is a good fit for that."

Father-Son Farming Operation Works with Water Street Solutions to Reduce Risk, Plan Farm Transition

by Heather Lauf August 29, 2013

Durdan familyDoug and Justin Durdan of Streator, Illinois work with Water Street Solutions in multiple areas of their operation. They talked about how working with the company has impacted their farm:

"A lot has changed in the last five years in farming. The market has become a lot more volatile - not just the price of grain, but with inputs, rents, machinery, and the cost of land. In that short time, there's been as much change in farming as there had been in the past 30 years put together. With greater volatility in the markets, we wanted to be more in control of our marketing and reduce our risk. Our market specialist opens new perspectives to us, especially strategically. He knows our numbers and understands our financial position so he bases ideas for us off of that.

Looking at our financial analysis makes us more aware of our cost of production. It's not only on an annual basis but more of a weekly basis because the actual cost of production changes frequently. I used to create my own analysis, but the Water Street financial analysis takes everything a step further by including machinery costs, land costs and more. It shows our cost of production going into a growing season, and all throughout it - so that helps us make plans and market our grain.

In an operation with a lot of moving parts, getting a legacy plan in writing is really crucial. You don't ever want to think that something bad could happen to anyone, but it can. If something happened to either of us, the plan will make sure the business continues. It would be sad to work your entire life building a farm business and then not be able to pass it on due to lack of planning. I think everyone starts out wanting to pass the farm on to the next generation. It's not really fair to anyone if you don't take the time to make sure that the transfer will be successful."

Illinois Father-Son Farming Operation Creates Proactive Plans with Water Street Solutions

by Heather Lauf August 22, 2013

Gary and Adam Ford 1Gary and Adam Ford of Tonica, Illinois work with Water Street Solutions in several areas of their operation. They talked about why they originally decided to partner with the company in 2007:

"We looked at the volatility of the markets and realized that things were changing, and that we needed to change, as well. There's a trust that's been built now between us and Water Street. We understand more about positions and strategies and have become more comfortable. Our advisors understand how we communicate and make decisions. They adjust their communication to us and how we like to communicate. We're more at ease because we have a plan and we know what we're going to do with our marketing.

We're very impressed by the information in the financial analysis and how it's presented. Our ag finance specialist has opened our minds to improvements we can make and areas where we're already doing very well. We like seeing our operation benchmarked against other operations and averages so we can see where we're different and why. It's also helpful to know our direct breakeven cost because that shows us where we can sell.

Before the 2012 harvest, it looked like we weren't going to have good yields because of the drought. Our ag finance specialist showed us what our crop insurance would do for us. That really set our minds at ease going into harvest. It reduced a lot of our stress when we realized we were going to be OK - no matter which way our yields went."

It's Important to Know Your Breakeven this Year

by Water Street Solutions August 13, 2013

tBrhel64Profit margins are getting tighter as costs have gone up and commodity prices have come down.  Tim Brhel is an Ag Finance Specialist with Water Street Solutions.  He gets into the specifics of this with Dewey Nelson from KRVN.     Know Your Breakeven this Growing Season Brhel AUDIO

Young Nebraska Farmer Manages His Risk with Water Street Solutions

by Heather Lauf July 11, 2013

Brett King photoBrett King of Newman Grove, Nebraska works with Water Street Solutions in his grain and cattle operation. He talked about the impact he has seen on the success of his operation from working with his Water Street advisors:

"The biggest impact I've seen on my farm with Water Street is in risk management - knowing my breakevens and making sure that I'm selling at a profitable level. Also, I can make sure that I'm always building up working capital and equity in my operation with the information in the financial analysis. Water Street has helped so much to put me in the positive financial shape I'm in now.

As a young farmer, I don't see how you could try to be without Water Street. When you buy a piece of land or machinery as a young farmer, you take a hit on your working capital. Water Street helps me manage that better. They create updated financial scenarios for me when I'm thinking about a purchase. It helps me make good decisions.

Up until 2012, I hadn't carried crop insurance. I signed up that spring because a Water Street ag risk advisor showed me how I could protect my risk and capital with such a small investment. When you're getting started farming, you have so much risk on the table. You need to protect yourself. I could tell they weren't just trying to sell me insurance. They were helping me use insurance by integrating it into my operation so I could get the most out of it."

Stay in Touch with Your Farm Strategy During the Busy Planting Season

by Water Street Solutions April 16, 2013

dFryeoldYes, the weather is already stressing us out this spring, isn't it?  So once we can GO, Katie bar the door!  Wait!  Are we forgetting something?  When it gets busy, it's easy to forget important pieces of our business.  As Water Street Solutions President and CEO Darren Frye tells Dewey Nelson from KRVN, it's easy to lose track of things, but the best farm business managers keep tabs on the important elements of the business, even when it's busy-ness.  Stay in Touch with Your Farm Strategy During Busy Planting Season - Frye AUDIO

For the text of the interview, click here: Stay in Touch with Your Farm Strategy

Stay in Touch with Your Farm Strategy - Even During Spring

by Heather Lauf April 8, 2013

FarmFuturesLogoNEW (2)On spring fieldwork days, there's a lot going on at the farm. Do you find it tough to keep in touch with other parts of your business in this busy season? What about the commodity markets, farm finances, and your employees?

In his weekly Finance First post on FarmFutures.com, Darren Frye, President and CEO of Water Street Solutions, talks about why it's important to stay in touch with these parts of your farm strategy and how it can affect your farm if you disengage from parts of it. Read it HERE.

More Land Isn't the Only Way to Increase Revenue

by Heather Lauf February 22, 2013

INAgrinews_2013_Feb_More-land-isn't-the-only-way-to-increase-revenueThe first thing we usually think about in terms of growing the farm is adding more acres. But are there other things you can do to increase your revenue - without buying or cash renting more land? This month in Money Matters in Indiana AgriNews, Darren Frye, President and CEO of Water Street Solutions talks about the other areas of your farm business that affect your profitability the most - and some things you can do.

INAgrinews_2013_Feb_More land isn't the only way to increase revenue

Growing the Farm without Adding Acres

by Water Street Solutions February 19, 2013

dFrye64May12Land prices are rising, in part because farmers compete for it in order to grow their operations.  Darren Frye, President and CEO of Water Street Solutions looks at this another way - other ways to add profit without the expense of adding acres.  He talks about this with Dewey Nelson from KRVN.   Growing the Farm Without Adding Acres - Frye AUDIO

For the text of the interview, click here: Growing the Farm without Adding Acres

About Water Street Solutions

Water Street Solutions helps farmers with profitability, using a business model that you won't find anywhere else. Experts in ag finance, crop insurance, commodity marketing and legacy planning work together on a plan tailored for your farm.

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