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Visit with your lender when contemplating prevent plant

Farmers are encouraged to visit with their ag lender when considering prevented planting.

Caleb McConnell with Compeer Financial says there are a lot of variables as wet weather continues to delay fieldwork.

“It’s definitely something we keep in mind, and we would like people to put pen to paper and see how that prevented plant would pay in relation to getting the crop planted if we’re in that situation.”

He tells Brownfield the prospect of more Market Facilitation payments could also influence late planting decisions.

“With the trade aid, that’s something we need to start considering too. Obviously we don’t know what it’s going to be or when it’s going to be, but it’s something that may come into play down the road.”

McConnell says while higher prices would help, there are farmers penciling out profits by cutting costs and working with their lenders.