2021 Newsletters

  • January  Inside this newsletter: Farm Analysis SessionsYear End Inventory PricesElectronic supplemental data worksheet1099 and W2’sEducational OpportunitiesPcMars Accounting Data BackupTop 5 Steps to Prepare for Your AnalysisWhy Do We Suggest Year-End Inventory Prices?SWMFBMA Annual Board Meeting ReportGoal setting to reduce stressEnd of year Inventory prices
  • February  Inside this newsletter: Survey 2021, New SWFM WebsiteMarch 1 deadline tax preparation sessions will be held virtuallyStart a new year in PcMarsNo Scanner? No Problem!Virtual Currency Farm BillIt’s Time to Check InGrain Storage Facility safety cost-share programFarm service agency currently accepting sign-up for numerous farmer assistance programsTaxation on Series I and Series EE BondsPaycheck Protection Program (PPP 1 and 2) and the Employee Retention Credit (ERC)
  • March  Inside this newsletter: Spring profitability conferenceWorkshop “Does Your Farm Have the Right Business Entity to Succeed?”Survey: You can help your AssociationApril 15 deadline tax preparation sessions will be held virtuallySouthwest MN Farm Business Management Association is on TwitterCorn and Soybean ralliedFinancial review Session5 Quick Self-Care Swaps for Planting Season
  • April ​​Inside this Newsletter: SWMFBMA farms see much improved profitability, New tax deadline, 2021 Farm Management Profitability conference now available online, Put your analysis and benchmark reports to work., PcMars Extras, 2021 Farm Management Profitability Conference now available online, Spring Board meeting, Paycheck Protection Program extended again and USDA announces program updates, IRS and Amending returns with unemployment income, Information on the third EIP (Economic Impact Payment)
  • June Inside this Newsletter: Summer visits to be held using zoom or in personTax year 2020 completedAmerican rescue plan actThe Benchmark Report: Your advantage over the competition, Are you up to date with your accounting?Advancing Ag webinarWhat a difference a year makesBrazil has become a leader in world soybean production
  • July Inside this Newsletter: Summer Visits, Advance Child Tax Credit Payments in 2021, Delayed Refunds Due to RRC Discrepancy, Is it time for a new computer?, Keeping a family farm in the family for future generations, An overview of Meat consumption in United States, Applying for loan forgiveness from the Paycheck Protection Program, Us Cropland is consolidating into larger farms
  • August  Inside this Newsletter: Dr. David Kohl to present a SW MN Ag Lenders Conference Aug. 12; SWMFBMA Members invited to join remotely, What protection can crop insurance provide us, Beginning farmer tax credit, Livestock disaster assistance – PLIP and LFP programs; Emergency CRP haying and grazing, Sorting Through 2020's Payments, What can we do about feed cost
  • September Inside this Newsletter: What we heard at our 2021 Summer Visits, Cropland rental rates for Minnesota Counties, How much grain to defer?, Paycheck Protection Program (PPP) tax update and forgiveness portal, Beginning farmer tax credit, 2021 Ag Lenders day in review, Drought Resources, The Livestock Forage Disaster Program (LFP) provides payments to:, Pandemic Market Volatility Assistance Program for Dairy Farmers, Minnesota Revenue tax changes and conformity, Advance Child Tax Credits, Minnesota tax credit or subtraction depending on income
  • October Inside this NewsletterCover crop scholarshipTax time just around the cornerThe Best Financial Option for Buying SeedTen different agriculture publicationsStrategies for family farming success in the shark tank of what if professor emeritus Ron HansonPretax Planning, What can we do about the input prices?
  • November Inside this Newsletter: IRS CP80 NoticeCover Crop ScholarshipFarm rental workshops coming soonPretax PlanningTax Planning and Prepaying ExpensesIRS: Drought-stricken farmers and ranchers have more time to replace livestockHow to approach carbon market opportunitiesTips for managing conflictMN cover crops press release

Annual Reports

Newsletter Archive

News

Cover Crop Scholarship

10/26/2021 - 11:26

Are you planning on trying cover crops on your farm in 2021, 2022 and 2023? If so you may be eligible for a significant scholarship.

Agricultural Business Management News

07/16/2021 - 13:12

Feed Cost

by Nathan Hulinsky, Extension educator, Agricultural Business Management

Feed cost is the most important and expensive input cost on a dairy farm. For a combination of reasons, feed costs have risen sharply since the fall of 2020. At Central Grain in Sauk Centre June corn prices are around $6.70 with a positive $0.10 basis, with higher positive basis for late summer.  Soybeans are around $15.00 with negative $0.40 basis. These are very competitive bids.  Futures prices this fall are currently several dollars per bushel lower than nearby contracts. If you have any excess grain, consider contracting it for sale this summer. 

 

Becoming a Great Farm Supervisor

06/11/2021 - 10:30

Do you want to improve your skills as a farm supervisor? In this four-part webinar series, we will cover leadership and communication, hiring and supervision, employee culture and employee handbooks, and leading with confidence.

Click to register

Using marketing plans to take advantage of current markets

05/27/2021 - 15:34

 by Dave Bau, Extension Educator, Ag Business Management, U of M Extension Regional Office, Worthington

Farmers should develop a marketing plan to take advantage of great prices offered for 2021 and 2022 crops. Marketing plans have many components. What should a farmer include in a marketing plan?
Cash flow needs: When starting a marketing plan, a major factor contributing to when a farmer sells crops is when there is a payment or cash flow demand. Start a marketing plan with a list of when cash needs to be generated. Click here for full article