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Joined: Jan 2016
Posts: 1,977 Likes: 2
Campfire Regular
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Campfire Regular
Joined: Jan 2016
Posts: 1,977 Likes: 2 |
Guys it’s called base not basis
like corn base acres or wheat base acres only( don’t believe soybeans ever counted) was a big deal when rented a farm with high corn base or even added when selling one. I don’t believe it is a big deal anymore but was used in the LDP days and setaside or pik days. You could build base acres but only allowed so much per year.
Basis is basically “hidden freight charges”
See attached . The board price is $4.42 at one inland elevator basis is -.10 so you get $4.32 per bushel cash
The river basis is -.04 so you get $4.38
Basis changes on demand and river levels. Most time .10 is decent .05 is better have seen a positive basis of .10 as well when they need grain badly. Basis is the easiest way to make/lose money. Basis can swing from -.10 to -.30 overnight due to demand. So board price stays same but basis changed .20. What’s bad is when board drops and basis raises at the same time ,,,double whammy
We might have to be neighbors, but I don’t have to be neighborly. John Chisum
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Joined: Nov 2018
Posts: 3,744 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Nov 2018
Posts: 3,744 Likes: 1 |
It always makes me grin when fat people complain about farm subsidies. Edk
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Joined: Feb 2002
Posts: 13,661
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2002
Posts: 13,661 |
In my area, northeast Missouri, the family owned farms here are usually running about 3000 acres. Some of that is rented ground. I have no way of knowing their finances or care to but they all are driving the newest and best pickups and farm equipment, live in the nicer homes around here and take plenty of vacations every year. If they're hard up it isn't showing by the way they live. Sounds kinda like you care a little bit. Not caring but observing what our taxes are helping to fund. When your neighbor brags about how much he gets from subsidies on oats and barely and never raised a crop of either it seems fishy to me. There is something called "basis"...where you get paid for crops you used to raise. I am not sure how it works. I rent out what little farm ground we have. I want to put it all in CRP but they use a date back in the 1980's for the comparison. We did not have row crop on that ground, we had hay. So, the USDA has no basis to compare to. So, until the Congress changes that date, we will be renting out the ground. kwg If it's fenced, you could rent it out as pasture to get cropping history to be able to get it into CRP. Or find out how many years of grain it takes to get the min cropping history for the CRP application.
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Joined: Feb 2004
Posts: 19,240 Likes: 4
Campfire Ranger
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Campfire Ranger
Joined: Feb 2004
Posts: 19,240 Likes: 4 |
In my area, northeast Missouri, the family owned farms here are usually running about 3000 acres. Some of that is rented ground. I have no way of knowing their finances or care to but they all are driving the newest and best pickups and farm equipment, live in the nicer homes around here and take plenty of vacations every year. If they're hard up it isn't showing by the way they live. Sounds kinda like you care a little bit. Not caring but observing what our taxes are helping to fund. When your neighbor brags about how much he gets from subsidies on oats and barely and never raised a crop of either it seems fishy to me. There is something called "basis"...where you get paid for crops you used to raise. I am not sure how it works. I rent out what little farm ground we have. I want to put it all in CRP but they use a date back in the 1980's for the comparison. We did not have row crop on that ground, we had hay. So, the USDA has no basis to compare to. So, until the Congress changes that date, we will be renting out the ground. kwg If it's fenced, you could rent it out as pasture to get cropping history to be able to get it into CRP. Or find out how many years of grain it takes to get the min cropping history for the CRP application. Unfortunately, it's not fenced. The price of fence material is sky high. I don't have enough years left to make it pay for me. kwg
For liberals and anarchists, power and control is opium, selling envy is the fastest and easiest way to get it. TRR. American conservative. Never trust a white liberal. Malcom X Current NRA member.
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