The saying goes that “a goal without a plan is just a wish.” Wishing for better yields, lower input costs, or higher corn prices doesn’t make it so. But planning helps.

Keith Steiner, Federated’s business relationship specialist, applies that same thinking to crop input financing. “Planning early makes things easier later,” he said. “Just like marketing your grain or cattle early to sell at a price you’re comfortable with, figuring out what price you need to be at for inputs helps the decision-making process become easier,” he added.

It is essential to “know what your break-even price is,” he said, because it makes purchasing your inputs and/or selling grain easier.

Early planning also creates a much longer window for decision-making. There are more options for when to “pull the trigger and purchase your inputs,” Steiner noted.

According to Steiner, there are many different ways to finance a crop, whether it’s through

1. John Deere Financial to lock in a low interest rate on your seed,
2. the Cooperative Finance Association (CFA) to cover inputs purchased from Federated,
3. your local bank to cover all of your expenses across the farm,
4. or a combination of these options.

There is a good solution for every grower’s individual financing needs.

Steiner particularly noted key features of the CFA financing program that is designed exclusively for farmers:

1. low interest rate,
2. due date of March 15, 2020,
3. financing covers all crop inputs purchased from Federated, including fuel and crop dryer propane.

“Sitting down early and coming up with the best plan for you is very important in these tight economic times and everyone at Federated is here to help you stay successful on your farm,” he said.

This winter, as in every off season, Federated Agronomists are ready to sit down and help you work through your plan for next year, to help you make the best decisions for your farm.