Managing the risks of 2024

By Matt Reese

With crop price declines, continued high input costs and yield diminishing drought conditions, risk management for Ohio’s row-crop farms is as important as ever. The challenges of this growing season, if not properly managed, could impact the viability of Ohio crop production operations for years to come, said Barry Ward, Leader for Production Business Management and Director of Ohio State University Income Tax School for Extension.

“Those that are working in the area of agriculture are well aware of what prices have done over the course of this summer. We look back in May and our budgets, our prospects and our projections were much better. We even found some areas for profitability, but now of course you know Ohio in the eastern Corn Belt is more generally where we’re having the bad weather and most of the rest of the Corn Belt is having pretty good weather, so prices are falling,” Ward said.… Continue reading