2018 Farm Outlook

Page 6 2018 Logan County Farm Outlook Magazine LINCOLN DAILY NEWS Oct. 25, 2018 world continue, and a quick resolution would certainly be helpful to commodities including soybeans. Given the expectations of a tight farm economy, where does the money come from to make things flow? Simply, it is much like any family budget. Additional money is borrowed, some expenses are cut, savings are dipped into, off-farm employment or specialty enterprises are undertaken to provide income and benefits, or there are some royalty producing incomes sought. The trend has been toward at least some off- farm employment for the family for many years now. Add in the energy boom in the area with wind power and now solar coming to the area, some additional royalty income is being pumped into the farm and government budgets. Specialty enterprises include small-scale additional crops, specialty grains and seed production, non-GMO crops, and livestock operations, all contribute to these additional enterprises. Some additional assistance will come through limited direct payments for market disruption. Another factor for corn is the proposed increase in ethanol content in gasoline from 10% to 15%. The production side of the equation is hopefully offset by the use side, and innovative ways to use more commodities is essential to the farm economy. Farmers are extremely resourceful, and many are finding ways to effectively deal with declining incomes or outright losses. The production side has been operating at a high level of efficiency, and we certainly hope the weather cooperates too. The marketing side has offered opportunities through the year for a greatly increased income, and hopefully many took advantage of the opportunities when they presented themselves. Stability in markets will allow for better planning by producers, processors, and consumers. We can all add stability and prosperity to our wish list for the coming year! Enjoy the fall weather, and be safe on the roads.