Tools to Help You Make a Decision on What to Plant
With the late harvest in Ohio and other areas affected by all of the heavy rain and bad planting weather, many farmers face crucial decisions on what crops to plant. Should they take a risk on planting corn, switch to soybeans or collect insurance on prevented-planting acreage.
You can check out these tools to help you in that decision. Ohio State University has a spreadsheet to help you with your decision and the Iowa State University has an article comparing likely receipts from late-planted crops versus cash from receiving prevented-planting insurance.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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