Farmers Are About To Face Financial Hardships *BAD

[@jeffsalyerphotos]

Thank you Cole. I have watched your videos for more than a year. I have always enjoyed your positive thoughts. This video has brought me to a new level of respect. You nailed the realities of the future. I hope everyone is preparing, because things are going to get expensive.

[@organbuilder272]

Cole: This kind of program is what makes you so important for both the farmer and the people who watch (Should watch) your channel. Once more opening the door to the problems of economics in the farming community. You are a clover young lan and have shown so much that people don't understand or consider. Thanks for the education.

[@Kim-ug4hc]

I don't get it. New bins, new truck, new tool trailer......where is the hardship? They are spending money like they are in Congress!

[@organbuilder272]

@@Kim-ug4hc Obviously you didn't listen to Cole's explanation. All this spending you mention was planned for more than 1 year IN THE PASTR. Not economics have changed and as Cole exlained, they are using income from outside sources to keep the farm running. You really don't need to "Get it" You are not a farmer and obviously don't understand how produce and dairy farmers are being treated.

[@redbovine]

I farm. Rents have been steadily increasing in my area. Now we are looking at a 50-100% increase in fertilizer price. Distributors will not guarantee a price unless it’s delivered right then. China has said they will not export any phosphate fertilizer until after 2022. Chemicals are going to be scarce for certain things. The Bayer plant in New Orleans is still shut down that makes glyphosate due to a hurricane. My worst fear is we are going to have a farm economy lock up. Along with inflation and not much equipment being imported it’s is setting up a scary scenario. Rents. We use to rent from retired farmers who understood all that has to happen on a farm. Now we are renting from those peoples heirs who live in cities who only want to see the biggest rent check they can get. I do not blame them but it’s tough. Hang on boys and girls. Fasten your seat belts because we have not seen anything yet.

[@vhehn]

"trade wars are easy to win" donald trump. china knows how to play games too. the auto chip shortage was traced right back to trump trade policies by economists.

[@hunterklemz0597]

@@vhehnbiden is china's favorite puppet

[@heartoflyn]

@UC29E016HK0Q14yLls_Cogfw You are a clown.

[@cathleenhamby4723]

This is so sad for our farmers! Yes, I also know and understand the other proposed pieces of legislation that will make things even worse for them.

[@JCrook1028]

@@vhehn China has nothing to do with TSMC which makes the chips. They're in Taiwan not China btw. This shortage was coming for years and everyone ignored it. The pandemic sped it up and magnified it a bit but it was going to happen anyway. The demand for high end chips has been steadily rising for a decade and production has not been expanded to keep up. That's just a fact.

[@keywestskoko]

Thanks Cole for such entertaining and informative posts. I'm a city guy and wouldn't know soybean from pole bean if they ran over me. Nevertheless, I find your explanations of farming fascinating and informative as heck. Being in finance, I really enjoy your breaking down the various aspects of faming into easy to understand bits. I've always had an appreciation for farmers, but I must say, they are truly some of the most flexible and extensively knowledgeable business people I know of. I don't know about the other viewers, but I'd really appreciate your insights into how farmers use commodity hedging from a practical standpoint to manage their incomes. It think it would make for an interesting post - along the lines of the one you did on farm finances. Any how - thanks again.

[@christinepierce3989]

The shortage and shipments from overseas for supplies for farming, it truly emphasizing the need to manufacture almost all items needed for American living and farming in the USA and NOT overseas. The USA MUST become self sufficient.

[@russkes9745]

One president too late for that

[@ratj4715]

@@russkes9745 where were all these people over the last 40 or so years. No one care. As long as he wasn’t there job they couldn’t buy foreign fast enough

[@TheSoloAsylum]

In just over three years the US might have a chance to try again to fix the mess being created today...

[@ratj4715]

@@TheSoloAsylum who please we just live threw Trump 4 years of trump we can make it threw anything. We made it out of his daily lies and making things up as he went try to cheat in anyway he could to stay in office try to over throw the government no one had any respect for him he was a joke around the world

[@ratj4715]

@@russkes9745 If Trump would’ve took the virus seriously in the beginning we might not be where we are now. Instead of telling us only 3 or 4 people will get it and it will be gone in a few months. He was wrong from the beginning to the end clueless. He just didn’t understand what was happening it was over his head.

[@adamjohnston9719]

Thanks!

[@timring1344]

Cole, these videos are some of my favorite ones. I learn so much.

[@kustom4935]

I have the utmost respect for farmers... dealing with increased costs for seed, fertilizer, machinery that is becoming less user friendly for making repairs without having to get the dealer involved, oh, and that little unpredictable thing known as Mother Nature. Keep up your hard work.... it does not go unnoticed or unappreciated. Thank you for what you do for every living, breathing human soul.

[@Aiko2-26-9]

Yes, DC, I remember that game where a moose sticks his head up and you try to smack it. Only I think it was a mole. You must have been playing a much larger version.

[@ps4peace]

And here I all I could think of was a farm version of "Riverdance". ;-)

[@Shewhiz99]

As a Canadian, I remember the moose version!😉 you rock DC!

[@stevenicoson6670]

Thanks again for another great video. It was interesting and enjoyable. Love the new fuel buggy that DC got. It is a Tandy!!!!!! Really nice with all the accessories. Can carry good load of DIF and diesel fuels. Looks nice with your name on it and so. First class fuel trailer. Looks like work is progressing on the bins. False floor going in, excellent. Making headway. Watch out for Pete. Wow. Thought the payloader was going to climb that tree. Got to say he gets things done. Glad you were able to fix the skid loader forks for him. Place will look nice when he is done. Thanks for the overview on money issues. Different times right now. About it for now. You all take care and be safe. Looking forward to the next video. Thanks. The Iowa farm boy from years ago.

[@three6ohchris]

There's a huge supply chain issue all over the world... The crazy thing is that if you look at the Marine/Ocean maps which track container ships, it shows hundreds (if not thousands) of the ships sitting offshore waiting to come into port and be offloaded. The issue from what I've heard it that they simply don't have the manpower. They are having trouble filling positions. We are also facing a trucker shortage, evidently, that prevents those goods from being taken out of the ports and out to distribution warehouses, etc. That, combined with companies purposely withholding their products in order to create an artificial supply shortage in order to increase their prices/profits has caused issues all over the world. You're going to start seeing shelves slowly become empty at grocery stores and/or "one stop shopping" places like Walmart, Kroger, Costco, etc. We're also already seeing large price increases, like what you're talking about with your chemicals/fertilizers. Things like that, which increase the cost to grow and produce crops and food, will cause consumers to feel the price increase in their bank accounts. It's a gradual process, but "experts" are predicting inflation and product and food shortages like we haven't seen in a very, very, long time. I suggest stocking up on non-perishable foods while you can. I'm not saying everyone's going to go hungry but it will be more difficult to get certain items that you've become accustomed to being readily available.

[@butcherwoman3753]

It’s called thanks to our government. Look into it. You will find the answers.

[@three6ohchris]

@@butcherwoman3753 oh yes... I already know. We were doing so well up until about 9 - 10 months ago. It's like something changed to cause us to go into an economic tailspin. 🤷‍♂️😁

[@adamirwin8808]

@@three6ohchris multiple stimuluses (government can’t give away anything they don’t take from us ie taxes and such not just on income taxes) people getting used to getting more money than they were working from said stimulus payments then wanting higher wages to go back to work, and companies aren’t just gonna absorb that extra cost for labor and taxes so they raise prices on the goods. And the more money they print without the gold to back it causes inflation cuz the dollar is worth less every time they print more.

[@three6ohchris]

@@adamirwin8808 yessir, you are absolutely correct. I don't dispute that at all.

[@briskibriski275]

I love when you do videos like this. You simplify and dumb it down which makes it very easy to understand.

[@anais9042]

i love pete he is like a hidden main character we unlocked on this channel 10/10 for entertainment lolll

[@itzpete1689]

😂😂I love him too

[@brianandlindafairchild1237]

I like Pete too, but I would never treat my equipment that way.

[@itzpete1689]

@@brianandlindafairchild1237 yeah me either, but he’s too funny sometimes he plays with his equipment like a kids lmao

[@alphaonetwoonetwofive5680]

@@brianandlindafairchild1237 well you know what they say, don’t be gentle it’s a rental 🤣

[@bonniemiller7955]

You would make an awesome teacher! I love how you break things down.

[@kathryndejaeger1002]

That new fuel trailer should be called "Phil" lol

[@dalegereaux1863]

Is Phil part of the Erup family ?

[@redrose41000]

@Kathryn DeJaeger - Hilarious 😂

[@kathryndejaeger1002]

@@redrose41000 You're welcome !!

[@phillipmetcalf9404]

As some named Phil, I don’t think that is quite right. It should more like Money Wagon. Because it is going swallow money to fill and spit out money when servicing.

[@walterhart4516]

I knew a Lisa Short whose dad was Phil Short, years ago I swear to G. LoL

[@philipkimber6302]

hi Cole. we have the same issue with rising prices over here. Power prices have rocketed. Next year will be very tight for farmers. Hopefully next year it will be better! Praise God his provision never suffers from deflation or inflation!!

[@dustinrogers1566]

Well said, having “more money” doesn’t mean we have more money. People wonder why the price or fuel impacts the price of…well everything

[@MarkSeng]

Cole, Thanks for the explanation. I'm going to show this from 5:12 forward to my Economics class on Monday. We are talking about inflation, budgeting, and supply/demand. This is a great explanation of Real-world consequences of the Trillions of dollars of stimulus money that has been thrown at the economy and why budgeting is so important. Keep up the good work in educating the public about farm life! Thank you !!!

[@phillipmetcalf9404]

Sorry Cole but you missed some basic info. (FYI, I am an agricultural engineer, who farmed and grew up in the pnw wheat area). According to USDA Farm Service statics . Natural gas prices drive the majority of the cost of nitrogen fertilizer. Currently there is a huge world wide shortage of natural gas. US production was down last year and crash this year due to combination of political, environmental and global issues. In Europe the gas shortage is so bad that electric companies are having to cut back production. France this week ordered several natural gas tanker ships to return without selling due forecasted natural gas shortages this winter. Here in the US economics are shouting about the upcoming high wintering heating due to natural gas pricing. You get what your trying to do. Farmers are at a the bottom of the economic ladder. They can’t pass on their increase operating costs as readily as other producer. Your ethanol producer just raises the price of increase operating cost where farmers cannot.

[@phillipmetcalf9404]

@@BitcoinfunforBoomers I totally agree, but I did want to run off on a tangent side issue which becomes political argument. Politics plays a huge rule in this , both in cause and how slow improvements will be made. Last year at this time , as I recovered from a failed abdominal surgery, I read several articles by ARS and agricultural agronomists about the up coming shortages of agricultural chemicals due pandemic measures being taken. The cost of energy is going up. Cole should be buying diesel by tanker load because it is going up rapidly as well. I seen some predictions of 20+% increases by spreading spring. Local farmers and dairy’s here in Florida are already seeing a rise.

[@ecoalex]

so the quantitative easing that the Fed did is driving inflation? That was not the case, as this started under Obama, it was used after the bush sub prime crash. All it is is welfare for wall st and the banks. We did have hypo inflation (negative) or neutral for many years, now with shortages, the true cause of inflation, we have price hikes. It is strange we can't supply our fertilizer needs from our mineral stocks. We have rock phosphate and soft rock phosphate deposits here in the US as well as muriate and potassium sulfate deposits here as well.We also have plenty of nat gas for urea, anhydrous is too dangerous and damaging to the soil. We need more animal operations and manure composting, which locks the nutrients in the soil so they don't run off.There are answers, we need to be more self sufficient for our own security.

[@lizholub2035]

What we need is our pipeline construction back, a border wall, and no more handouts!

[@thomasyerbey337]

Great video Cole and DC it wasn't like this One year ago I hope you all have a great season 🇺🇲

[@oldfarmer4700]

The only ones in this country that never have to tighten their belt or sharpen their pencils is insurance companies and politicians.

[@jamesmoon1841]

Your half right. Politicians never seem to tighten their belts. Insurers react to market costs just like the rest of us.

[@1917Enfield]

Lawyers and bankers.

[@jeffekkel5870]

I haven't seen to many "Big oil" folks miss a meal lately either!

[@mrromantimothy]

@@jamesmoon1841 belt tightening don't remind me of California Governor Jerry Brown in two terms separated by 20 years he ruined this entire State and it's once proud free-way building private Enterprise caltrans which was state owned for decades while we sat in traffic idling away because of freeway project didn't get built for way less money than it cost in today's dollars our gargantuan Mammoth amount that cost all California not only in money but time but we had our belts tightened. and he had to gall the tax businesses for climate change where did that money go affordable housing for illegal immigrants.

[@logpile1318]

@@mrromantimothy democrats ruin anything they have control over.

[@dougsturgill1356]

Hope your family can weather through all the mess,if you farmers dont do well we all suffer, I live in west central ILLINOIS,right in farm country, I enjoy your knowledge and lighter side on some issues it makes it feel like we will be ok

[@DeKrampus]

I've seen this gouging/inflation somewhere before.... At the end of the 70's beginning of the 80's, if memory serves me well. Can't wait for 18% interest rates again. /sarc

[@redbovine]

I’m am not old enough to be farming thru that but my family was. I study a lot of history and there are too many signs pointing to a bad scenario starting to form mimicking the early 80s. I hope I’m wrong but I am worried.

[@queenbee3647]

That was when families lost their homes and farms. It was heartbreaking seeing the auctions. God I hope we dont go that way again.

[@robinwhitlatch4497]

I grew up on a farm with crops and cattle and all the family farm animals. 1970’s oil embargo and gas shortages. I remember lines a mile long at gas stations and could get a set amount of gallons of fuel. Unless they had ranch fuel tanks farmers had a hard time getting enough fuel to run tractors, equipment and trucks to harvest crops and some stayed in the fields not harvested. Then came insane inflation in early 80’s and crazy interest rates on mortgages causing people to loose homes farms and equipment because cost of living went insane and crop prices were low. Was sad watching it happen. Was one of the many reasons I went into the Navy in 1980 and stayed until 1995. Always had a job, paycheck, benefits, 3 squares a day in my belly and a roof over my head. Got to travel, see places and do things I would never have been able to do otherwise. I think farming is the only profession where the farmer or rancher takes all of the financial risk and does all the work for a return of very little set by a futures market and in the case of livestock selling to feed lots at the mercy of largely foreign owned processing plants. Farmers and ranchers need to start thinking way outside the box to avoid being boxed in by the high priced inputs and the middle man and thought process of “it is just the way it is and how it has always been done” mindset.

[@DownSpriggLane]

Great job explaining! Good luck with the new year!!

[@bradklingensmith]

And hundreds of freighters sitting on the coasts unable to get unloaded and product delivered.

[@playinatlife5778]

If Abbott can put the National Guard on the border to help with the illegal immigration problem, and Hochul can put the National Guard in New York hospitals to help replace fired health care workers, you would think Newsom could do something to help with the Port of Long Beach problem of unloading ships. Just sayin'.

[@gregf1349]

Farming is the only business that buys everything retail and sell everything wholesale and pays transport cost both ways.we are price takers not price makers. In Australia Anhydrous ammonia is $2000 a ton urea is around $1300 a ton roundup is $7.30 a litre and could be approaching 12 to 15 dollars a litre early next year the cost of growing wheat,barely in 2021 is around 220 dollars a acre barley is at the moment is 240 a ton .apw1 wheat 300 a ton with all the other costs to run a farm around 10.000 acres it not uncommon to spend over 12.000 dollars a day over the year.insurance land rates taxes, million dollars machines at 250.000 repayment over 4 years and Toyota Land Cruiser pick up at over 100.000 dollars to drive around and look at 40 to60 dollar a hectare chemical sprays that haven’t worked or frosted barley hailed out cotton or fly blowen sheep. A windscreen wiper blade for a John Deere 9860 combine cost$ 292.36 two 420/80/34 tractor tyres just on 7.000 dollars A new tractor ,planter air seeder is more that 1.8 million just to plant wheat it will interesting to see what happens next season if all these cost double

[@et5222]

Investing in commodities is usually a good hedge against inflation.... growing commodities can be a whole different story. Good explanation about inflation. Best hedge will be a million subs! Halfway there Cole. Congrats on 500k

[@tomcatpurr]

That's what they say about gold and silver and now their price has dropped so people have lost their dollar value in that faster than inflation.

[@jamesthomas3749]

@@tomcatpurr hehe! hold it, when our dollar collapses it will be that or crypto that replaces it.

[@viv8504]

0 ¼

[@rzee]

@@tomcatpurr now is the time to buy more precious metals, the price is manipulated by the paper market, physical metals are worth more than the current price.

[@JCrook1028]

@@jamesthomas3749 lmao, crypto won't be replacing anything.

[@tomsdotter3228]

Thanks for the explanation, Cole. Love your channel! God bless the Cornstars!

[@gopurdue02]

I'm a long time viewer of the channel and I'm going to have to push back a bit on Cole on what is driving the cost of fertilizer specifically. It's not inflation: but rather bad energy policy coming from the current administration and from the E.U. Over 50% of the cost of fertilizer is tied directly to the price of natural gas. At the end of last year during winter gas was trading at 2 DT and now is it is trading at nearly 6 in the U.S. And much much much higher in E.U. At 23 a DT. Why is natural gas prices so high? 1) Believe that fossil fuels are causing global warming and therefore require negative government regulation. 2) ESG investors that last year managed to starve anything connected to fossil fuels for capital. The U.S. May be awash in natural gas but it takes consistent capital outlays to keep production consistent. 3) Biden administration suspending issuing new drilling permits while they undergo additional review. Also, good luck trying to get a permit out of the federal government to move gas from where it is extracted to the markets where it is needed. 4) Renewable energy falling short when it is needed most. For example: Texas this year on wind turbines freezing over and in the case of E.U the wind hasn't been blowing at all. This has lead to the need to spin up peakier plants that run primary on natural gas and even coal. I've seen the price of coal nearly up 300% higher on the spot market recently. Cole is seeing the impact today as he tries to forecast out to next year: Everyone on this planet will see the impact this year when they try to heat there homes this winter. I'm talking heating bills at least 2-4x higher then last year. God forbid we have a cold winter and it can easily go higher then that on the spot market. In short: Election have consequences and we are seeing those play out now. If you are cold in your home this winter I recommend putting on layers. In the mean time you can look forward to even HIGHER food prices next year based upon Coles input costs.

[@terryhobdy5727]

I agree 💯 percent

[@queenbee3647]

The WH has no clue what regular citizens are facing. Add to that they dont care either!!!

[@scooter6582]

So in your expert opinion how did the Trump tariffs work

[@jasondavis1145]

Amen

[@gopurdue02]

@@scooter6582 Were we talking about 5-6% price inflation in 17/18/19/20? Would rolling them back result in a return to 2% baseline?

[@tomatoking8090]

Daddy Cornstar, your the greatest! Glad to see your still feeling better. Cole your still funny to..LOL... enjoy you guys. Take care.

[@mmegraham]

Pete is quite a remarkable human being. I've never seen a tree climbed like that before.

[@nitramnitram1966]

Given his apparent age, the remarkable thing is he’s still alive

[@justinlatvamaki2365]

He seems like one of those guys when you asked him why, he says well it has to get done lol

[@tomsdotter3228]

Phew! I thought Pete was gonna tip over!

[@dcricket1]

I have a friend like Pete. We’ve known him forever. He’d be laughing and cussing just like Pete does!! We’ve learned a long time ago to be careful who we invite over for BBQ’S and things! My husband and this man have been friends since they were kids. Thank God my Mother had 6 brothers and being the only girl knew how to handle them. She threatened to wash his mouth out with soap once and she meant it too!!! She was 5’ tall and tiny but her brothers were scared to death of making her mad!! Needless to say if Mother was around our friend watched his mouth a little better!

[@mudbuster50]

No joke, I’d be finding some new help if my equipment was treated like that. Not to mention the liability to have a wreckless operator in my business. The risk of having that isn’t worth your headache Cole!

[@scottalspach8020]

Fairly new to your channel here from Oklahoma. Really liking it, you all do a great job.

[@gudfarfar]

Some years ago, a close friend of mine was going to build a house, and he had precut all the lumber and all the other items he needed for the build kept in storage at the dealers, because they were willing to do that if he pre paid for it. It was not too bad and he borrowed a little and paid the whole thing off. A month later he broke up with his girlfriend at the time and the build was put on hold. The shop still would let him store the materials if he paid a little extra, so he kept it. About a year later, the price on lumber had gone up a lot, and the dealer offered him double the money for the materials he had in storage! He took delivery of the materials instead and built a great house for little money.

[@judycrosetti7292]

Hoping for the best for you all.🙏🏻

[@melwallace1255]

Great explanation, Cole!!! Thank you!

[@ryanbeebee1265]

We love our Thundercreek trailer, very similar setup to yours but we have the light tower on ours. It’s very nice for the random nights our choppers don’t make it back to the light towers at the dairy site. I’m assuming you go through similar scenarios with combines so I personally would recommend that upgrade! We’ve had our trailer just over a year now and have put just shy of 30k gallons through it! I just think of the 300 pickup loads that would’ve been and you can’t even fathom the efficiency loss of basically “wasting” a body during harvest to haul fuel! It was definitely a game changer for our operation 👍

[@5ivearrows]

Plant a cover crop. Do your soil a world of good, and with the right cover crop you can get a significant part of your nitrogen straight from the air.

[@markmcculfor6113]

True, Covercrops aren't free and are often hard to implement over many acres at once

[@michaelmathews295]

Now that they have the haying equipment they should rotate some alfalfa on some of their acreage and get the benefits of the cover crop but also the hay it produces.

[@finncon4399]

Also way better for the environment.

[@5ivearrows]

@@markmcculfor6113 true- it's not free, and takes some management and some strategy. No doubt about that. The benefits are pretty tremendous though.

[@margedeogee8525]

Cole, your explanation on inflation was very informative and interesting too. You are right when you say there is more to the supply and demand theory. However, for commodities, it was a well-presented explanation, good job!

[@lindabishop-surbeck2575]

Groceries here I’ve seen our discount grocery chain is roughly increased about 30%, and we’re on a fixed income. Glad I took economics in collage back in ‘81 and still remember!

[@chrissyfrancis8952]

I always buy in bulk(which really paid off during the toilet paper crisis. I had a year’s worth stored), but started tripling up in very early Spring bc I knew inflation was coming. It’s gonna get worse before it gets better.

[@butwereallsombdyspecial]

It's about 45% increase here it's ridiculous. Thanks to the current administration

[@tiredoldmechanic1791]

You went to collage?😉😁

[@itzpete1689]

@@tiredoldmechanic1791 i wanna laugh, but I don’t want to offend you if I laugh and your being serious 😂

[@Bridgeman-bg4jl]

@@butwereallsombdyspecial no it’s not. You are clueless.

[@gleadhill79]

Aww, DC so proud of his new baby is just everything! Congratulations!! 😂💖

[@gbthecamper458]

Many of the inputs required for farming are derived from oil based inputs. Thus, with oil at over $80 a barrel and natural gas hitting $3:85 you inputs are up 35%. You have some hard decisions on hedging your purchases. The tried snd true method of float 50% and fix 50% has its risks. The issue is supply chain issues which will ride into 2022. Rely on the experts so at least if they screw up you can blame them. As a consumer, we will never blame the farmer as the profits are always owned by the input producers and the distribution companies. The farmers are always the ones being screwed My 2 cents.

[@jeffekkel5870]

Yep,you pretty well nailed it. Especially the being screwed part!

[@ordelian7795]

But it's a good thing Joe Biden cancelled the pipeline project. That would've made oil cheaper and the construction of it would've given people jobs. Also with Trump administration making it profitable to use local steel instead of imported from the worst polluters of the world (china)

[@boskone]

I wouldn't count on consumers not blaming farmers. Most people are short-sighted enough they won't realize that corn prices and farm profits aren't necessarily coupled.

[@LatinDanceVideos]

Farmers need to understand the commodity futures markets as much as wall st hedge funds.

[@bzs187]

Yeah, we scared that this ballon will pup and that will be loud. Fertilizer here in center Europe is doubled compared to last year, so much, that we think about lowering our corn % on on our fields and planting more bean instead. And we are not alone with this thought. We are sort of lucky, because we have a mobile dryer, but to other people, who don't... They not gonna have that much bigger profit, because the drying cost gone up. It will be interesting and terrifying to see where will these leads us.

[@deannamarie4149]

Thanks Cole! Congratulations DC on you your new piece of equipment!

[@curtisvanlaecke1990]

Hey Cole I run a corn seed business. Just like yourself, fertilizer, fuel etc has all increased, so has our COP like yourself. That's the single most reason for the seed price increase. Ps I have lowered prices when COP is low.

[@teamstromski]

One of the special things about your channel that I don't see a much on others (that I follow) is that you always take the time to explain more of the economics in a stripped down basic version for non ag people to understand. Being in ag in Central ks we I feel your pain and frustration bud.

[@millionairefarmer.]

Farmers are going to have to sharpen the pencil. We are experiencing the same up here in Canada. We got $22 canola, so equipment price up, fertilizer up. Your rent price blows my mind we pay like $40/acre

[@pamalvestad3848]

😐 it's gonna get tougher for awhile in these prices. You would think the other end of agriculture could work with the farmer better.

[@KameraShy]

There is no such thing as "canola." That is a marketing invention. It is actually rapeseed.

[@dpk241]

@@KameraShy canola is different than rapeseed. Rapeseed oil has high erucic acid content and is not edible by humans. Canola is name name given the crop that was bred to have low erucic acid content so it could be eaten by humans.

[@millionairefarmer.]

@@KameraShy I think canola is the canadian version of rapeseed slightly modified. Has something to do with the oil. But yeah people up here still call it rapeseed too.

[@randykov]

@@dpk241 you are correct. Canola stands for Canadian Oil Low Acid.

[@tonieiselt6274]

Thanks for the supply and demand segment Cole. This is one of my favorite episodes so far.

[@SwannOG]

I especially enjoyed your explanation on inflation. May I suggest you abstract that part of this video and post it separately. I am sure if it is shared around it would do a great good to get people to understand more about what is happening right now with their Food, dry goods, and other purchases. It would also probably get you a bucketful of views and likes. Label it appropriately. Again magnificent job on the economy.

[@kirataffy]

I would love it if he did just that. I can learn more easily when Cole explains things simply because he makes sense of it for me. I am glad he explained it.

[@matthewpalin]

Totally agree very well explained

[@CAPFlyer]

As everyone else has said - great explanation Cole. Quick Q though on the rent side - instead of renting at a fixed cost per acre, have you or others considered doing rent on something similar to a basis contract? By this I mean that you set a base rent price, which is guaranteed to the landowner. This price is based on either a certain number of bushels per acre of production, or it's based on a certain price per bushel of the commodity being grown. Above that number, the landowner gets a percentage of your additional "profit". This way, the rent scales with good yields, but also comes back down if you have a bad year. However, it keeps the landowner protected since they'll still get the minimum rent that they were already getting before.

[@billwhite7099]

My man Pete, is an OSHA Agent's dream, or nightmare, depending on how they view their position.

[@larsharris]

Wonder how many injuries he has had? I bet low. If I am doing loader grubbing work. “Everyone stay the heck back”

[@KameraShy]

Pete just gets the job done. Whatever it takes.

[@billwhite7099]

@@KameraShy you got that straight.

[@brendarobbins8832]

Pete probably has a low “tons of scrap to injury” ratio. He bulldog’s through before gravity and fate can catch up to him. 🤣

[@joefudd]

Pete would do better to either saw that tree down then pull the stump with a chain and the loader, or put a chain high up in the tree and yank it down. He has lost weight and leverage advantage reaching the bucket that high up.

[@christinej2358]

Wow, Pete had me scared for his life. I thought for sure he was going to tip over. Glad he’s ok, but should really be more careful. Inflation is taking a toll on everyone. Everything is going up and somethings are really hard to find in stores. Cole, if something ever changes in your current profession as a business farmer and KZbinr, you could always go into teaching. You did a great job explaining and simplifying cost economics. You even made it fun to listen too, but then that’s what you do with everything. You make it fun! Thank you for sharing!

[@dalegereaux1863]

Good and informative show today, thanks !

[@iowafarmer5418]

I chatted with our local Coop Manager about Anhydrous Ammonia (nitrogen) he said there are two companies in the US. There is not a shortage of Anhydrous, and there are no problems in transporting to Local bullets or stations. The two companies got together and decided what price to settle at. Their cost to produce did not increase yet they choose to doubled the price if you prepay for it this fall and have it applied this fall. We usually apply in the spring so that's another half a year from now wonder what that price will be. Triple, quadruple? Its not right and I don't know why they are allowed to get away with it. Just when we are about to make a profit over and above our living for once in ten years and they all take advantage of us.

[@snapisone]

Your great explanation made me say oh shit, next year will be very bad.

[@danfinley3690]

Thank you for a great explanation and update Cole and as always god bless

[@sparhawkable]

You are not wrong about price gouging. The middle class is finally demanding a living wage but the owners don’t want to give up any of their overblown salaries so that the workers and farmers can make a reasonable living.

[@GM6.7]

You are wrong as middle class have been making a living wage that's why they are middle class you probably meant people making 10-13$ an hour demanding 16-18 for the same labor and which owners are you trying to demonize small business or corporate big business? Small busniess aren't being overblown salaries by any means.

[@sparhawkable]

@@GM6.7 I guess you have not noticed that the middle class you are citing has all but disappeared under the weight of so many CEOs making million dollar salaries and working people’s stagnating wages .

[@lachlanbarber8813]

Australia's prices have gone from $380 USD a ton to $690 USD a ton. Big big trouble

[@jessedegross4284]

Let's go Brandon!!

[@alexgarza7486]

Yep

[@michailbest1122]

Indeed!

[@johntheball]

This is what happens when you export all your manufacturing for 30 years, it didnt happen in the last year. This is typical of an uneducated electorate blaming todays administration for problems sown by the last 5 . Oh and the pandemic which last aministration tried to ignore and kill thousands more Americans than needed.

[@interman7715]

@@johntheball Trump said America would be on it's knees within 12 months under sniffy Joe.

[@johntheball]

@@interman7715 America is not on its knees far from it....Trump actually said you wont have a country anymore you wont have religion... Trump is a populist idiot who only the most gullable beleive.

[@timothyobal3621]

At 7:30 that was a really cool audio/visual shot. Love it!

[@wendybacon4467]

There is so much that goes into a business that a lot of people don't realize. We see Cooper and DC doing a lot of more physical and manual jobs around the farm like welding and machinery repair but this is a great example of how each member in this family contributes to the success of the farm as a whole. Cole you do a great job working through and explaining (simplifying) the more financial side of farming. It is going to be tough on all of us Im afraid. From the farmer to the consumer and praying extra for those already in hardship.

[@marieemarch]

I totally agree and working with the finacial/marketing people is a smart move that help him look at the market and deciding when to sell. Mr Ford as many know was not all knowing about the auto manufacturability business when the members of the board retired to remove him. He told the board that he didn’t need to. That he needed good advisors that know those things and it’s true. Cole and the Cornstar family are a great example of leveraging your assets and one of the biggest is people!

[@mmay6621]

Thanks Biden.

[@trevorwayne3586]

We have inflation due to the government printing money out of thin air and it not being backed by the gold standard anymore the more money they print the less our dollar is worth

[@markthegunplumber8376]

Don't ever tell that Old Scrapper to treat it like he stole it. After watching him, he treats everything like that. That Old Fart could break a Ball Bearing with a wooden mallet. I wouldn't let him borrow a Hammer.

[@themayorofdipshittery3646]

He’d break an anvil just by standing next to it. I wouldn’t put him on charge of anything. How has he lasted so long without killing himself 😱😱😱😱

[@Bri-tg6xr]

Oh wow I just laughed out loud at this one, ball bearing, hammer wow! I had a relative like this guy, sadly he never made it to 40, lived his life full throttle though, had balls to match.

[@michaelmijatovich8983]

Great information Cole and yes there is alot of price gouging done by alot of people. And like you guys who grow our food seem to get stuck paying more money I wish you the best

[@martinjm1913]

Hi Cole, love the post's, going by some of the UK's farming blog's it's the same here. Hope that the build continues to go well 🚜🇬🇧

[@bishop2b394]

Let's Go Brandon!!!!

[@amyno5688]

I was coming to add this comment!!! Lol What a difference a hijacked wh makes.

[@chrisk891]

Same here

[@rustyschackelford9645]

LET'S GO BRANDON! 👏👏, 👏👏👏

[@toniasalways]

Look where the "united" states are now. Only frump could divide the entire country even after he's gone.

[@amyno5688]

@@toniasalways Don't worry... Brandon is bringing all together. Lol

[@terrystephens1102]

Thanks for another great episode, Cole - love the new fuel trailer 😃👌👏👏👏❤️❤️❤️

[@padraigoleary8471]

That video was so 🥱😴. Stop wasting money on fuel tanks, new combines etc if times are that hard.

[@charlesandmargretbrogan9873]

Cole. On The auger problem why not cut the flighting in lengths that you can install. All you would need are couplings and bolts. I would use good bolts and torque them to the max to squeeze the tube to the coupler. C. Brogan

[@robinbenge1067]

I'm going to put this out there it wasn't like this a year and a half ago it's all because of you know who

[@scooter6582]

Yeah we didn't have a worldwide pandemic a year-and-a-half ago right

[@mariafiscella]

I really enjoy and appreciate your 'informational presentations/explanations', Cole. Keep 'em coming:)

[@marknelson771]

Congrats on 500k cole!! You deserve it!

[@Becky20]

I think the fuel trailer needs a compartment for spare Keys. LOL!!!

[@hooch2973]

Hi DC, I think you were confusing the game Wack-a-Mole with the one where you grab the bull by the tonsils.

[@farmerj4687]

That ol boy was putting that wheel loader to work. Need Pete on the channel more😅

[@keithfork8663]

Geee who was it that triggered oil prices to jump?

[@lynnew5619]

What I don’t understand is why, when the ‘candy bars’ run out, people don’t just accept that they have to go without until they are back in stock again. Why do prices have to go up instead? If the price goes up, People shouldn’t buy it. That creates a vicious circle. Also, why doesn’t your Govt step in with subsidies to enable farmers to cope with these artificial price increases? They need to feed the country and forcing farmers out of business won’t help that. I’m afraid the main world sickness these days is corporate greed.

[@dorvinion]

Subsidies are part of the problem for ag, as well as all other goods/industries being subsidized. Without subsidies, pricing of agricultural products, both inputs and outputs would be more accurately priced. Subsidies also distorts who gets into and/or out of agriculture and what they do in agriculture. Subsides induce ecological damage in that people farm marginal land instead of letting it lie fallow or using it for other purposes. Iowa farmers routinely see 175+ bushel an acre corn. Where my dad lives the land is not suited to modern ag practices - they are really lucky to get 125 bushel corn but people continue to farm these lands for decades for one reason and one reason only - subsidies make it profitable. Dairy is another easy example the easiest example. For years farms have been dumping milk. This isn't a new thing since April 2020 as it seems if you search. The are dumping it because demand is lower than supply. Dairy farms get massive subsidies to keep milking more cows than markets demand. The subsidies have a ripple effect throughout ag As by keeping supply of one thing (dairy) high, it also artificially lowers the supply of other things that ag land might produce - other crops or other forms of animal product. Too little space to really dedicate just how destructive subsidies are. To the politician and the lay person, subsidies 'make sense' because its easy to see the direct outcome "subsidy = farmer helped" Its much harder and much more essential to look at all the effects that are not staring down at you from atop a tractor seat. This is where the real damage of subsides comes from.

[@davehughesfarm7983]

They can take that fertilizer for corn ground and shove it! But I have unique position where 85% of my ground is in a flood plain and it floods twice a year and we get some top soil and minerals from the floods..I am one of those that dont care about king corn.. Grow a little milo once in a while..

[@jenm6836]

Hey, Cole, I think you need to take a trip to DC and explain economics to the knuckle heads in charge.

[@davidstewart8081]

He would have to spend the next month in the shower.

[@aarondnls24]

Do you think this admin would even understand anything he is saying

[@NoName-qt6wb]

@@aarondnls24 choca choca chip.

[@AppalachianPatriot]

@@NoName-qt6wb Let’s go Brandon!

[@jacobwatson1818]

I asked this question just a few minutes ago. Not trying to argue any administration but it looks like the previous administration also seemed to not have a good plan as well. Increasing subsidies from 4 billion to 22 billion is a gigantic increase. Can't just keep throwing money at it, yes the trade war with China appears to have hurt both us and them but we can't keep increasing subsidies. 20 billion looks like we got the worst of it.

[@matthewdowd4686]

Cole that's not a candy bar....😉😆 hope things improve for you and all the farmers that keep us fed. 🙏

[@EddieTruckingAdventures]

In the UK, we have a national driver shortage of hgv (semi) drivers. We have got some supply issues because of it

[@bradklingensmith]

Same for the US. We are importing drivers from all over the world.

[@dalegereaux1863]

The shortage of semi-truck drivers is why there are 70+ cargo container ships setting offshore of the Long Beach Harbor in Southern California. I think there's going to be a lot more shortages before too long.

[@MrFarmer110]

I heard that most of your petrol stations were out of petrol, is that true or is it only partially? I haven't seen any shortages in my area here in the US (yet) but the prices are slowly creeping up.

[@jwrockets]

When I listen to the radio, there are so many commercials for truck driving companies hiring drivers. Earlier this week, my daughter was standing outside the DMV office waiting for them to open. Seven of the eight people standing in front of her were going in to test for their CDL's.

[@CT-gm7mm]

Well the UK’s problem is their hard on for “green energy” and the governments price controls on energy sales. The labour shortage is because there are too many people living on social welfare and the government won’t kick them off and send them to work.

[@tjmcphee8516]

Thanks for all the clarification!

[@bigdaddigaming]

If you was ever confused about supply and demand on the economy Cole actually explains it quite well so everyone understands, great work Cole

[@alexanderborges85]

I really enjoyed the part you talked about inflation, well done!

[@laurieanne9712]

You're a great teacher! Just saying again how good it is to have DC back!

[@kevincottington561]

I am a Tool, Die, and Fixture Maker for Thunder Creek Equipment and it is an amazing company to work for! I am a big fan of yours and love seeing our equipment on your channel.

[@stuckinnj9554]

I’m liking the branded equipment. U need to put Corn Star Farm logos on all the toys.

[@masterbates7016]

They didn't own the last fuel trailer I'm guessing they bought this one since they're buying everything else

[@jeffreybroadbent7318]

It is the same here in Australia, inputs have gone up making it harder to upgrade any thing as the money is going into the inputs you need to grow a crop.

[@chade.7948]

Just gets passed down the line…grocery prices are insane right now.

[@jackson15plus33]

You left out corporate greed. It may not always be on the visible layers of companies, but it’s there.

[@petemac7969]

"We're winning the battle of inflation!" Let's Go Brandon!!!!!!

[@NavyWife]

I so agree! Let's Go Brandon!

[@naldahide]

Let's go Brandon!!! LOL!! Elections have consequences! Vote em' out!

[@strikehold]

@@naldahide Disagree! Fraud has consequences!

[@naldahide]

@@strikehold agree with that too!

[@chrisbertrand3989]

Very good explanation on inflation and supply demand alot of people dont understand how that works

[@seanobyrne6481]

I love your videos, ever thought of not using one of the chemicals just for an experiment 😉 big savings might balance the books. Love your family unity and love and respect for each other. Keep up the excellent videos looking forward to the next one! The dry wall should be done?

[@ITubeTooInc]

Not only has the price of the chocolate bar gone up, the cocoa content has also gone way down by the looks of it. 😂😂

[@loganholmberg2295]

I used to not worry about inflation but now that I live on a fixed income it's a bloody nightmare especially right now.

[@nipponsuxs]

Inflation happens when demand and ecoonomic activity increases. Cant expect to pay the sane price when everybody wants the same products.

[@jesusisGod1434]

In the last year I’ve seen the price of groceries go up to almost double what they have been in the last 4 years. Awful.

[@rogermello8046]

Cole there 50 boats out at sea that can't come in because there's not many truck's to deliver the good's no body wants to work any more

[@isaacdecker9993]

Congrats on 500K subs!

[@danveneri]

It's time for you to re-think if growing a single crop is worth it or not? Maybe try to diversify your crops with fewer chemicals and less tillage will help you have better yields. Have you watched the movie "kiss the ground" on Netflix? It is quite scary what is happening with our soil. Since tillage fractures the soil, it disrupts soil structure, accelerating surface runoff and soil erosion. Tillage also reduces crop residue, which helps cushion the force of pounding raindrops. ... Splashed particles clog soil pores, effectively sealing off the soil's surface, resulting in poor water infiltration. ACT NOW!

[@LS-ot4ho]

Diversification, good point - like this farm kzbin.info/www/bejne/i5enhYBqf917opo

[@sno-bro7692]

Hey cole your doing great. Keep up the good work brotha!!

[@peteparker7396]

Cole you don’t know what inflation is like. Yet. Those of us who survived the early to mid 80’s? We know. Over 18% interest. If you’re going to make a capital expenditure? You better do it before the first of the year. I just signed a contract on a quarter.

[@ChevyC-hf6km]

But nobody complained about 8% interest on savings accounts or 15% interest on CD's.

[@queenbee3647]

My first house bought in 1984 was financed at 15%! When I heard of 30yr fixed at 3% these last couple of years I couldnt believe my ears! We did without and had no help. Did it on our own. Its gonna be tough if todays young people face it cuz I dont think they can.

[@peteparker7396]

@@ChevyC-hf6km you must not have been alive then because there wasn’t many people saving. A lot of farms went broke. It was an endless string of auctions.

[@peteparker7396]

@@queenbee3647 those were rough years, I remember them and can see a lot of parallel’s to today. I think, some will, some won’t make it.

[@playinatlife5778]

@@queenbee3647 I bought a condo in 1977 at 18%. I still own it!