sad faces

[Hopperbin]

Richard you could put that whole debt on your checking account over draft at the lowest rate. Why bother with long mid and what ever your talking about?

[freewheat]

Heck, ado, land prices here were sub 500 bucks an acre for deep black clay loam.

[Klause]

Sad thing is if we had some smart leaders, we could put an end to Russia and the Arab Turds in a hurry.

Run oil into the ground. And flood the world with shale oil. I wonder how long OPEC would continue to produce 30 million barrels/day if they had no one to sell it to, hmm?

[seabass]

I would say 100 to 120 for 5 year loans. Depends on long term yields and avg prices for each farm. What your risk tolerence and long term plans for farm. Do u have another generation looking to take over. Lots of different scenarios.

[Richard5]

I could do that Hopper however that doesn't make a lot of sense unless you don't have a lot of debt which may be your situation

The interest rate is basically the same either way if securing it with hard assets

The problem with a large loc as you are suggesting is that its really supposed to be short term and not carry a large balance all year.

In addition, when times get real tough the next 2 to 3 years as I feel they are going to, you are refinancing to 5 to 10 year term debt anyway to give you some wiggle room to operate

[bgmb]

Depends where you farm(land price) and what your risk tolerance is/stage in farming.

[hobbyfrmr]

I have lived skinny for so long it's just another day. I was just getting used to "doing ok".
I did notice yesterday that Suncor on the NYSE gapped down but Suncor TSE slid down . Either way, it looks like a good time to buy in. I don't see Suncor going Broadacre......ooops I meant bankrupt. Crazy spell check.

[fjlip]

Okay "old guys", 1968 wheat 4 bu/acre quota, $1/ bu, and mostly damp #5 crap, average 25 bu/acre. Bartered wheat for 60 cents a bu delivered. That's $15 gross per acre. Never had canola but maybe a couple bucks, in 1972 bartered canola for a new steel shed at $2/ bu. 40x80 Behlen only cost $5000. Diesel 6 cents a liter, gas 10 cents a liter at pumps. Land at $12000/ quarter.

Fast forward to 1974, wheat $5, same as today, canola $9 same as today. Phos $100/ ton. Land doubled in price to $25000 a quarter. Oh ya a dozen beer $3.50. Things can change in a hurry! Same old same old, nothing new here. Wait it out, spend wisely.

[ado089]

Freewheat, we had some TLE action driving price up here and I was averaging a little bit of Alberta goodness into that figure.

[ado089]

Oh and by the way I'm talking about 2005. How quickly we forget.