No one can look in a crystal ball and really predict what the markets are going to do.  We can understand the fundamentals and track the technicals.  The best approach is to know just what you need from the market in order to achieve profit.  And that brings us to Understanding Your Break Evens.  KRVN's Ken Rahjes talks with Darren Frye, President and CEO of Water Street Solutions about how to get to a long term break even -- and the importance of knowing that number going forward into the growing season

June 7 2010 Understanding Your Break Evens.mp3 (3.66 mb)

For the text of the interview, click here:  Understanding Your Break Evens

Many agricultural producers may have the idea that bigger is better - but that isn't always the case when it comes to profitability.  A panel at the Commodity Classic talked about some of the challenges of growth in farming.  It's a nine minute discussion that you can watch right here.  

The book that Darren Frye talks about in this segment is The E Myth by Michael E. Gerber. 

For the text of the video, click here:  Does Big Equal Profitable in Farming

Farming is all about financial risk.  The capital needs are large and spring and summer weather is unpredictable.  This week KRVN's Ken Rahjes talks with Darren Frye, President and CEO of Water Street Solutions about using a financial analysis as a starting point and then layering crop insurance into the farm plan.  The process is especially important for growers in expansion mode.  Click on the link below to listen to the interview.

June 1 2010 Examining the Risk in Your Operation - Frye.mp3 (3.75 mb)

For the text of the interview, click here:  Examining the Risk in Your Operation

It's a roadmap, or a checkup.  A financial analysis is a good first step toward mapping out your route on the farm.  Water Street Solutions President and CEO Darren Frye talks here with KRVN's Ken Rahjes about why you really should start your farming plans with a financial analysis. 

May 24 2010 Benefits of a Financial Analysis - Frye.mp3 (3.41 mb)

For the text of the interview, click here:  Benefits of a Financial Analysis

Do you have enough to do right now?  You want to be pro-active about your marketing plan, but it seems to get pushed to the back burner because you're just busy with fieldwork.  In the big scheme of things, now's really the time to be paying attention to this, as some of the opportunities for pricing can come during the growing season.  Take five minutes to listen to this interview and you can get a much better idea of how this works.  KRVN's Ken Rahjes talks with Water Street Solutions' Market Advisor Chip Nellinger.

May 17 2010 Marketing Discipline During the Growing Season - Nellinger.mp3 (1.43 mb)

For the text of the interview, click here:  Marketing Discipline

If you need some help through this process, call us at 866-249-2528.  If you'd like someone from Water Street Solutions to contact you, e-mail me at klang@waterstreet.org.

Farm profitability comes down to discipline with financial metrics.  It's critical that you're watching the right numbers.  This video, shot from a panel discussion at Commodity Classic in March focuses on the importance of working capital as opposed to net worth.  Click here to watch.  It's six and a half minutes long.    

Lots of market analysts like to talk about the fundamentals that may affect the prices in the next few weeks, but there are some pieces of market advice that can make a big difference in your profitability that have nothing to do with the price of grain tomorrow or even next week.  Arlan Suderman from Farm Futures and Mike Jacobson, a banker from Nebraska spoke on a panel at Commodity Classic in March and had a couple excellent pieces of advice about marketing that you've never even considered.  Take a listen by clicking here.  

For the text of this video segment, click here:  Marketing Tips You Probably Never Thought About

This might seem like a strange question -- especially since I'm directing this to farmers.  But when we talk about the most profitable farmers and compare them to those who are not as profitable, sometimes the mindset makes all the difference.  Our panel discussion at Commodity Classic last month hit on the topic of differentiating the most profitable farmers.  If you'd like to know their answers, click here and watch the video.  It's just 5 minutes long.

For the text of this video clip, click here:  Are You a Farmer or a Business Person

What are the best farmers doing that you're not?  We asked a panel of ag business experts that question at Commodity Classic, and got a variety of answers.  I'm sure you'll learn something if you click here to check out the video.

For the text of this video segment, click here:  Characteristics of the Most Successful Producers

How do you plan for profitability?  It's really about having a system and then employing the discipline to use the system.  A recent article in Illinois AgriNews explores the topic with input from Water Street Solutions' Director of Finance Joe Delheimer and Vice President of Insurance Deb Etheridge.  View the article here.

IL Ag news March 2010.pdf (58.32 kb)