Can My Farm Survive Another Year?

Today's video is all about the finances of running a farm. In this video I give the cost of production numbers for a 1,000 acre farm in Southwest MN. The goal of this video is to educate those interested in learning about farm finances. If you have any questions throughout, put them in the comments and I'll do my best in answering them. This video took me a fair amount of time to make, so I hope you enjoy it!
Sources:
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QUESTION - Have a question about farming or life on the farm? Drop it in the comments!
Matthias, aka HiTech Farmer, is a 5th generation family farmer from Southwest Minnesota who promotes agriculture by capturing it through the lens of a camera, one video at a time. Passionate about emerging farm technologies and the benefits of 21st-century precision agriculture tools, such as farm equipment, GPS, and autonomous tractors, Matthias is determined to bring new methods into his operation. These methods can improve his farm's efficiency and sustainability into the future. Learning from his parents' (Mike and Dawn) work ethic, Matthias sees every day as an opportunity to educate and entertain about the daily triumphs and challenges his farm faces, whether technology-related or not. His mission is to share his enthusiasm and knowledge of agriculture as he embarks on what it means to be a farmer in the modern era.

[@user-cz3ey6hu2g]

I learned a crap ton from this video. It’s amazing how much all the stuff cost to run a farm. You did a great job explaining it. ✌️

[@HiTech_Farmer]

Glad it was helpful!

[@dastu56]

very interesting

[@HiTech_Farmer]

Thank you! Learn something new?

[@memamu0]

Wow. That was a very comprehensive look insight. Kudos also for the amount of clips you put together for the video. I got a little dizzy with all the numbers. Thanks for doing this series and all the hard work you put into farming and documenting. 👍

[@HiTech_Farmer]

Appreciate it! Yes the numbers got cumbersome at times, but I was trying to be as thorough as possible. Hope you learned something new!

[@farmhandluke5182]

Very well done Matthias! Thanks for taking the time and effort to make the video! 👍👋

[@HiTech_Farmer]

Thanks for the comment! I appreciate the support

[@aidanbrennan7389]

That was an eye opener. Good analysis. Greetings from Dundalk, Ireland....

[@HiTech_Farmer]

Glad you enjoyed it!

[@urs-z1p]

Drying cost?

[@HiTech_Farmer]

Yes that wasn’t included in my calculations. 1. For simplicity and 2. Because we don’t dry our corn every year depending on the growing season

[@Kreatorisbackyt]

How many types of crops are grown in your area?

[@HiTech_Farmer]

Everything is either corn or soybeans

[@Kreatorisbackyt]

@@HiTech_Farmer isn't there any wheat or mustard? My grandpa used to grow Corn we call corn(Makka/Makki)

[@HiTech_Farmer]

@Kreatorisbackyt very minimal wheat. Would have to know someone to even find a field with it. No mustard is grown, unless you consider the little bit that I see in ditches 😅. What do you with your corn? Livestock feed?

[@germanweis]

Привет ,сколько тебе лет?

[@HiTech_Farmer]

24

[@allenhanus6118]

You have to remember the women, without them your farm would have failed.

[@HiTech_Farmer]

There’s a LOT of truth in that!

[@carterfore7554]

Awesome job explaining the numbers.

[@HiTech_Farmer]

Thank you for sharing your feedback! It’s great to know you enjoyed it!

[@asquithmainlines699]

Great video, that must have taken some time to record and even more to edit. I have a friend who farms about 14 sections of land in NW Saskatchewan. Of that he rents about three sections. He does a cost share agreement with his renters. They pay up front a percentage of his input costs and in return receive an agreed upon percentage of the yield. As he explains to them he is managing their land keeping it fertile and weed free which is value added to them. That way the land owner assumes some of the risk but also nets a portion of the overall reward. He plants mainly Canola rotated with Wheat, Barley and feed Oats. In the winter he ice fishes and snowmobiles. LOL

[@HiTech_Farmer]

I’m grateful for your positive words! Thanks for sharing the story about your friend. I do like many aspects of a land agreement like this. Sounds like he has his hands full with that much land. Glad he can have his winters off. Although aren’t winters in Canada like 6 months long? 😅

[@2504499]

That number is staggering. Plus your time was not factored in or hired staff. Farming is not for the weak. Thanks Matthias. Very nice analysis and video.

[@HiTech_Farmer]

Thanks for watching. My time and hired help would’ve been factors into the equipment side of things, but for the management side you’re right. Hopefully things improve going into 2024!

[@rogerembry4777]

I don’t think I could take the stress of being a farmer, always worried about no rain or too much rain , thanks for what you do 😅

[@HiTech_Farmer]

Stress level definitely runs high at times. Seems like we’ve been more worried about not enough rain the last couple years. Thanks for commenting!