It's a Different Approach Here
Since we're not just a marketing company, we're focused on total financial picture on your farm. We start with a financial analysis of your farming operation. From there, we have a better idea of where you need to be with regard to the markets. Our focus is on building your equity helping you achieve your long term goals for the farm. We bring the information and help with the discipline needed in the markets. You call the shots.
September 13, 2013
Our 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. You can also sign up for a free, two-week trial of Arlan's daily market newsletter, MarketSense.
September 5, 2013
PJ 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."
August 29, 2013
Doug 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."
August 22, 2013
Gary 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."
August 16, 2013
It's tough to get started in farming today. If your family is already in the business, then a good succession plan will help. If you're not that lucky, then you might take the part-time leap into production. Here's an article from our latest Smart Series newsletter. If you didn't find one in your mailbox, request one at firstname.lastname@example.org. READ THE ARTICLE HERE
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