The crop put in the ground in 2022 will likely be the most expensive to date in a farmer’s career. Northland Community and Technical College Farm Business Management Instructor Ron Dvergsten says the financials still work. “It kind of reminds me of 2011-2012 when input costs were high, too,” said Dvergsten. “I’ve run some budgets this fall and it doesn’t leave a lot of wiggle room, but it does work if we get normal yield.” Many farmers were able to capture strong cash prices for this year’s crop. Dvergsten is advising his clients to also consider making sales for the 2022 crop. “Look at locking in 25-to-40 percent of your projected bushels between now and sometime next spring to give you a little buffer. Most likely, you’ll be putting more cost per acre into your farm in 2022 than you ever have in your farming history.”
