Farming is a complicated and rapidly changing business. Today’s farming operations bear little similarity to those of 50 or even 25 years ago. A profitable farming operation requires the knowledge of production practices, marketing, accounting and agricultural finance.
Government farm programs have become necessary for farm profitability and have become more complex as well. New varieties of seed, herbicides and insecticides are being developed at an increasing rate. There is also the tenant to consider: you don’t want just anyone working your land.
In today’s agricultural economy, it’s important to have a tenant who is financially sound and will work with you in reaching the goals you have set for your property. Do you have the time and knowledge to keep up with all of the rapidly changing factors affecting your farm and to manage your farm efficiently?
In situations where a widower is left in charge of a farm, an absentee landowner needs assistance, or other circumstances arise, First Mid can step in.
As farm managers, some of our primary responsibilities would be to:
- Develop both annual and long-term plans for crop rotation, fertilizer, pest control and other aspects of farm management
- Supervise farm operations via in-the-field visits and review of farm records
- Collect rent and other income and pay bills relating to farm operating expenses
- Negotiate with agricultural suppliers using combined buying power
- Furnish periodic statements and an annual analysis of farm income, expense and production, along with a summary suitable for tax return preparation
- Market crops while taking into consideration issues such as storage, cash flow, income taxes, market conditions, etc.
At First Mid, we specialize in assisting farmers, farm businesses and landowners with a wide range of farming matters. Why choose First Mid?
- Our professional team of farm managers is directly responsible for over 25,000 acres of farmland.
- Our experience and continuing education enables us to apply to your farm what we have learned from other operations.
- Our fee structure for farm management is based on a percentage of farm income, creating even more of an incentive to do the best job we can.
Ready for some assistance? We’re ready to help!
Contact us today to connect with a member of our Ag Services Team.
First Mid Ag Services is a division of First Mid Wealth Management Company.