Posted by JDseller on September 18, 2011 at 11:17:18 from (208.126.196.144):
In Reply to: Changed my mind.. posted by Dave from MN on September 18, 2011 at 07:42:27:
Any time you can get into a cash position it just makes life easier all the way around. With your crop unencumbered you have many options then. I would farm with what you have until they start getting unreliable. The high prices we are enjoying right now will not be here forever. Build up some cash reserves. So you are ready to buy when the values go down.
All equipment, that is newer, is over priced right now. When the grain prices come back down I look for a real slump in equipment prices. Those big greedy guys will have trouble meeting the high cost of rent, land, and equipment payments. Plus many will have newer and low houred equipment. The demand will fall off for the used equipment.
Land and equipment is at all time highs right now. This is not the time to be buying. Wait for a while. Both will come down in price.
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