Risk Management Through Record Keeping

Keeping record of your expenses, income and financial goals as a risk management practice has become increasingly important over the past decade, as the margin on many commodities and farm products continues to shrink. Keeping written documentation on your cost of production, taxes, and cash flows can help Landmark and Verity Business Solutions come up with a farm plan for your operation which can maximize your farm income.

Cost of production is a very important figure, which accounts for the cost of inputs for your crop. Things such as seed, fertilizer, labor, machinery time, and chemicals should be considered. Having an accurate cost of production can be a time-consuming process but it is a priceless tool in knowing how much you need to sell your crop for. Without knowing your cost of production, it can be difficult for loan officers to know your repayment capabilities or your grain marketing specialist to know what price you need for your crop.

Keeping hard copies of yearly financial documents such as your balance sheet, taxes, estimated cash flows, and income statements are priceless when working with an agricultural lender. Having accurate and up-to-date financials allows your loan officer to maximize your operating line of credit and complete your loan application process quickly.

Winter is the perfect time to get your financials in order before planting and growing seasons are here. Having your information ready now will allow you to more easily work with the Landmark and Verity teams on operating lines of credit, crop input pricing and eventually the sale of your grain. Our cooperative is here to help you maximize the potential of your operation and help you accomplish your financial goals.

Fall Harvest and 2021 Crop Year Inputs

Now that the 2020 fall harvest is wrapping up, it’s time for producers to start looking toward their 2021 crop year planning. This year, many producers were able to complete harvest up to a month ahead of schedule compared to the 2019 crop year, leaving more time for planning and financing for 2021. With less rain and fewer vomitoxin issues in the 2020 crop, producers were able to utilize the markets to achieve much higher prices than what were seen in March and April 2020.

November through December is an optimal time to strategize three elements of your crop planning for 2021.

One is to sit down with a member of the Verity Business Solutions team to talk about your plans for your 2021 crop year. Securing crop operating funding early, with interest as low as 0% for fall fertilizer, can take a lot of unnecessary cash flow stress off an operation. Verity Business Solutions will also automatically pay your crop operating expenses for the crop year (until October 2021), leaving you free to use that time for tasks on the farm. Two is to get in contact with a Landmark agronomist to get competitive pricing on your crop inputs. Securing pricing earlier in the year allows for our agronomy staff to provide lower pricing than what is offered “in season”.

And three, to talk with your Landmark grain marketing specialist to plan pricing for the repayment plan on your operating line. From animal nutrition to energy products, Landmark is here to work with you and create a plan that is right for your operation, allowing for maximized production and increased income.

Verity and Landmark are always here to help you and to support your operation. You can contact Verity Business Solutions at 608-819-3433.

Get a Jumpstart on Your 2021 Crop Year with Verity Business Solutions

The 2021 crop year is fast approaching, and Verity Business Solutions is here for you with some exciting financing programs. Verity Business Solutions has a program that will fit the needs of your operation, including financing programs as low as 0% for fall fertilizer.

The most exciting addition for this upcoming season is the Jumpstart fall fertilizer program—which offers fall fertilizer at 0% effective interest until March 31, 2021, if approved by December 31, 2020. This program includes financing for fall fertilizer, fall application, and custom applied spring UAN and Urea. The Growth program, which was also offered in the 2020 crop year, offers reduced interest of prime minus 2% for producers who increase their agronomy spend with Landmark Services Cooperative by $25,000 or 25%, whichever is greater. Finally, the Complete program offers prime minus 1% interest for all producers who commit 80% or more of their agronomy business to Landmark Services Cooperative. In addition to these programs with reduced interest—Verity also offers general input financing for producers who do business with Landmark at competitive interest rates.

Make sure to talk to a member of the Verity Business Solutions team, or your Landmark agronomist about the programs for the 2021 crop year—and your qualifications for reduced interest programming. We cannot wait to see you in the field, happy farming!

Call 608-819-3433 and talk to a member of the Verity team today!

Maximize Every Acre

As with every year, the excitement for planting season begins to build in March. With planting right around the corner, farmers are finalizing their 2019 crop plans. The goal of every farmer is to get the most economical yield possible from their crop. Most of the time, the financial woes of the previous year are forgotten with the optimism for the new season. However, because of the current state of the agricultural economy this year may be a little different. Over the past few years there has been a significant reduction in the availability of capital. Some farmers are realizing that they may not have the funds available to obtain the most profitable crop. By utilizing your Ag supplier and the special financing programs they can provide; will be of value to you and your business.

Verity Business Solutions, LLC is here to help. Verity has partnered with Landmark Services Cooperative to provide crop operating loans that will help you maximize every acre. Because of our relationship with Landmark we understand production agriculture. Verity understands the fact that sometimes things come up in-season that will make the difference between a good year and a great year. Landmark and Verity are committed to provide our members with the competitive advantage. By working together, it sets them apart from their competition to provide a wide array of financing options.

Verity currently provides Landmark Services Cooperative members with Crop Operating, Machinery, and Real Estate loans, along with Leasing and Crop Insurance. Whether it is helping you determine your breakeven or providing a Crop Operating loan to get that extra 10 bushels, we are here to provide solutions. Whether you are a dairy producer or a crop producer, Verity along with Landmark have options along with programs to fit your needs.