Banking on the Future
This article was originally published in the September issue of Soy Perspectives magazine. You must gain control over your money, or the lack of it will forever control you. That’s the mantra of financial planning guru and broadcaster Dave Ramsey. Agricultural financing experts say his advice holds true, even as new financial management tools and technology are rolled out. Some tools may be a boon to producers, but new widgets are worthless without a business plan. “Our members need structured financial management,” says Jackie Martinie, senior vice president and chief credit officer, Farm Credit Illinois in Mahomet. “Just like everything else [...]
Finally, Some Good News for Prevent Plant Acres
Driving across the northeastern part of the state it isn’t hard to spot fields that were intended for soybeans this growing season, but have unfortunately now become prevent plant acres. The only good news for the soybean grower in this situation is that the impact of leaving fallow acres may be less harmful than you think. Leaving bare ground greatly increases the risk of soil erosion and fallow syndrome for the following crop year if the acre is going into corn. There is no special management required for soybeans following a fallow acre with the exception of weed control [...]
Evaluation of Nodulation
Illinois producers spend a lot of time developing a strong corn nitrogen program and implementing it throughout the growing season. We know that nitrogen is very important to a growing corn crop, but it’s just as important to a soybean plant. However, realistically, how much time is spent managing soybean’s nitrogen needs? There’s still an ongoing debate regarding how much nitrogen a corn plant needs, but it will likely fall between 0.9 to 1.2 units of nitrogen per bushel produced. However, a soybean plant can utilize upwards of 4.5 to 5.0 units of nitrogen per bushel produced. With this [...]
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