im not a farmer nor am I trying to become one and i have no idea how i came across this video but i just sat here and watched the entire thing and found it very interesting. Thank you for being a farmer.
Lol! That's the way we talk about horse people here in northern Michigan. The fastest way to become a millionaire owning horses is to start as a billionaire, and pretty soon you will be a millionaire.
My farm has been in the family for many, many years and it feels as tho i started with a fortune with what we already have, and thus am making a good income. increasing just about every year
my friend is a truck driver, and he plays a truck driving video game, in his truck, every night. i learned: find out how to get paid to do what you love, and you'll never work a day in your life.
@@ColeTheCornstar Have you even investigated the roller crimper method? Many farmers get good results with it and lower inputs. I can dig up a vid if you like.
@@juandominguez8536 tax write offs can only be had when you have a profit to write off against. Expenses are a big part of farm expense, and if you ever do farm taxes, you will see they can be bounced against income, but are not write offs.
No one works to make negative a year, this video is misleading, if they were hurting that bad they would not have the equipment they do. Much of what I see on his farm is a luxury for many small farmers. Also, think about it they are paying for an accountant to be in the red, how much sense does that make?
@@dustinryan9671 Perpendicular cranial rectitis. So it's true. Damn it! I thought they were just joking around when they told me. Okay. Deep breath...FUCK!!! I thought the stench of shit would be confined within the afflicted's cranium! How did it waft into the states that grow the food that feed these...these...these... What the hell are they? Oh, Geezus!
I live near Chicago in Northern Illinois and I've always thought it was amazing when you get out and start driving 20-30 minutes from the metropolitan areas how much land and farms there are it's amazing how fast it is
The farmer is the only man in our economy who buys everything at retail, sells everything at wholesale, pays the freight both ways. (John Fitzgerald Kennedy)
I worked every summer back in the 1970s for Indiana farmers as a teenager before moving to Ohio. They were some of the hardest working and kindest people I've ever met. We are surrounded here in Ohio by farms and we often see the equipment rolling in the springs, summers, and falls. After watching this video I've gained a whole new insight and respect for farmers. God bless them all.
My YT feed thinks I am a farmer. Ads for seed, root improvement, Case...seeing as I watch Cole and Welkers and Millenial Farmer I guess I pretty much am a farmer now. If I come during harvest can I drive a combine? You don't have to pay me!
I am super impressed with this young man for knowing all the ins and outs of what it takes to run a farm and taking the time to do all the numbers. I dont farm but I do regard the farmer as the most important in our society and it would be nice if we could find a way to stop spending on bs and pull some money and resources to help them out. All that aside this was a great video
@ITHEREONETHATHASNT Wait what? So if there was political discourse between two nations and one of them gets all their food from the other. Bam you have no food. Where's the logic?
@ITHEREONETHATHASNT we've spent more money subsidizing farmers under Trump than we spent bailing out the entire auto industry in 2008. Farmers are the biggest welfare queens in the nation. Billions of dollars in subsidies each year.
There’s always gonna be a special place in my heart for farmers like you. My family on both of my parent’s sides of the family have farmed but have since retired, except for my grandpa, but he just has a pasture and it’s more of a hobby farm. Thank you for everything farmers like you do.
I can’t imagine how long it took to not only film this video but gather all the numbers and edit it all together. Good work. I’m a marketer from California. And you held my attention for 34 minutes. Loving your content. 🤘🏼
Hey I'm also a wheat farmer, and I understand the struggle of running one. No one really gets it, so thank you for putting the facts out there to help shed some light on the business.
@HeadlessHorse Would you say his using average for prices make his income on the low side? And wouldn't a loss on paper mean no taxes or significant benefits even though net worth went up? Thanks bruv good luck!
@@pcd1377 for wheat farming I would say no. For I would about 100 years now wheat prices havent changed, but everything else has gotten more expensive. His income is probably higher than what he actually got.
@@headlesshorse6223 Yes, that is true. However, remember that he did say at the beginning he couldn't give exact numbers, as he didn't want competitors to know his farms specifics. Even though his income was probably higher, his farm most likely was still well into an annual loss in income...as if the story of his mom being the one to keep the family afloat wasn't a tell-all to begin with.
Well considering he’s lying about these numbers I wouldn’t give them credit for anything. Farmers make plenty of money. This kid is taking numbers from a poorly run farm or a smaller farm and applying them to their farm. Nobody in their right mind would give a farm more money if they were losing $240k a year. Maybe he took their worst year ever and used those numbers. Idk what he did but this definitely is not legit.
Thank God I’m a city guy, but I do have the most respect for the farmers of the Midwest. Especially for you, Cole. You and your family are just trying to make a decent living out on the farm. Thumbs up to you, bro!
My Grandfather's, who was a farmer, favorite joke was "The fastest way to make a million dollars farming is to start with 2 million". Every day their is more and more truth to his words
Word! You got me cracking! We got to be aware of Banksters that will pull every trick just for the sake of dumping us in the streets, penniless! And grow with our own resources, progressively.
@@daltonbrasier5491 LOL! I just remembered all the hype about Google Glass before launch, and then the *thud* after. I was thinking that maybe it was because people like me would use it to pass that test, so it was thrown in a drawer somewhere, but the tech is actually being used in ag to help farmers.
They're broke because other countries can do it far cheaper and we shouldn't subsidize an industry that produces debt instead of value). And no, there would still be enough food for people, because if they were actually needed to feed people, they'd actually make a profit ...
@@awax2585 It's important that you DO subsidize these industries because what the heck are you going to do when all those cheap labor countries are no longer cheap? Now you're either stuck rebuilding your long dead infrastructure, you probably have barely any qualified farmers left, or you say fuck it and continue paying other countries to do it. Think it's a joke? How long do you think it will take for China, India and Africa to stop being 3rd world-ish and join us in the 1st world? Eventually their citizens won't be comfortable being paid pennies on the dollar to do shit for us, it's already been happening in the tech industry, it's only a matter of time. Could be a couple of decades more, or maybe even a century, who knows.
I just want to point out this is not a farm, this is a combine harvesting operation. Not a farm. Farms involve animals, livestock, and multiple types of crops. This is a combine harvester federally subsidized and insured operation. We have 500 acres in rural New Hampshire where we raise Cattle, Pigs, Chickens, Ducks, and harvest timber among other endeavors. His combine operation makes money, and if it doesn't they have crop insurance. These guys are more than fine, worry about your local farmers who actually farm.
@@TachibanaTengoku I don't think it is fair to subsidize one industry and tell the others to fuck off. If you are going to pick your favorites then I want to pick mine to be subsidized as well. 80% of everything in markets is brought to you buy Corporate farms. This guy in the video makes up 20% of it. We throw away 43% of all food in this country. We can do without Mom and Pop subsidized farming. We can't do without teachers, doctors, etc. Let the farmers turn to micro farming, and indoor hydro. They need to get into the 21st Century. Farming can be profitable but you can't do it like great grandpa anymore. And you shouldn't want to, it's wasteful. They say in the future micro farmers will be millionaires. And they won't need subsidies to do it. P>S I get a little sour on the subject of farm subsidies because my entire family has profited from them while constantly complaining about minorities on welfare. Our farm subsidies are a much larger piece of pie than food-stamp cost to the tax payer. Yet they still managed to find a way to be a hypocrite. I hate hypocrisy with every fiber in my being.
Awax it produces debt because it costs a shit ton to grow corn and soybeans on the level that they do, which they have to grow that much or their debt would be greater. If people would buy food in bulk from local stores or farmers markets it would be easier on farmers and live stock farms.
Really appreciate the time that you put into this, it absolutely shows. And it was an education for me to understand the economics of farming. This is definitely an area where we need to reconsider our priorities as everyone needs to eat. And I for one would prefer that we keep the family farms going versus allowing the mega-corps to take over farming. Keep doing what you do!
@@chrispeters1510... true, but without any food in your stomach... you won't be building a dog house, never mind "building America". Don't take me wrong, I do understand what you're saying.... and as an (now retired) independent Owner/Operator in trucking, I (none of us) never received any gov't subsidies either, and we had a massive amount of expenses and taxes as well..... but, there were "write offs" to.... just like most any other business, but we needed to really "keep a sharp pencil" as they say.... it, like farming... can have good, bad and even disastrous years. The main thing that really sets the farmers apart, is the fact that after all the hours, expense and hard work put into planting, etc.... in the end, they are Completely Dependent on "just the right weather conditions, at the right time" from planting to harvest.... and we all know how That can go..... especially in "these days".
I have farmed my whole life & believe me what he said about this is personal n that is absolutely true w/most people who are self-employed/business owners, however farmers take this to a level like no other being on the planet. When I was younger I often use to think the silliness that went on between other farmers was just ridiculous until I seen just how awful that they were to each other when for whatever reason someone seemed to be doing better than them or how or why or or or or... Instead of helping each other it is extremely opposite of that in some cases just down right mean. Now it is just best to keep things farm $$ related items on the DL for it is a much better way to remain in good relationships w/your fellow farmers... So it is why he has said slot but honestly might as well said nothing as it has nothing to do with anything pertaining to their operation
I bet Cole tried piecing together the go pro that went through the combine! I bet he could of if he had a small enough screwdriver. In all honesty I don't see how Farmers can make it work. But sure glad they do.
My parents were farmers, they're selling all equipment and rent some of the fields nowadays. The farm was just too small to survive in the modern economy. A trend too common in my opinion. As a farmer it's almost impossible to raise the prices or no one will take your product. The selling price is practically locked but equipment and utilities cost keeps going up.
This is why my grandfather and father sent me to school. to live a different life did not want me farming. outside of the money normal people have no clue the sacrifices and the physical and mental stress this work puts on a person.
*I moved to a small town that i found out almost a quarter were farm owners. Most high school students were working in the fields. I joined my friends who convinced me to work with them. I am glad to have worked in the fields. I learned what hard work was. The farm owners are amazing people. Helping anyway they could. Just observing on the job i realized how much goes into being a farmer. Mad respect for farmers and the FFA.*
My wife's family has a large farm in Boone and Hamilton counties and I've learned more about farming in one video than 30 years of visiting central Iowa. Great stuff! Thank you!
I'm glad you are using state averages. I really feel your own personal finances are totally none of my business and I never, ever, wondered how much money your farm made. I just enjoy your videos , enthusiasm and hard work.
@@dbutters3927 You are right. TH-cam videos take a lot of work and content to bring in a lot of money gaining many subscribers. Video editing is no small task when done with good design. Cole is getting very good at it and will only get better with the more he edits. I'm pretty sure he is using Final Cut to do his editing since he uses a Macbook to do his editing. I wish I had that kind of skill. Maybe some day I will ...
@@andrewinbody4301 The problem is - the rich just dont have enough yet, Im sure that when they decide they have enough and dont need to charge so much that they will let us know- then it will be easier .
@You Might be interested in what life is like in the Democratic Republic of Congo. South Sudan, Libya among other countries where there is little to no functioning government. In these countries there is little that functions at all. Life is brutal and short for most who live there. Go there or open a book and read. You may end up with a different outlook on government in general. Most rational thought supports the modest cost of government is worth its cost.
As a dairy farmer in Northern Ireland I found this very interesting. To see how the earnings can be got then spent in a cropping farm. Also watched the full video too so the way you filmed this is head and shoulders above any film coming out of Hollywood at the present moment.
@@cooper8318 In 2015 that was the case, it was almost equal to the cost of production for us cause we graze the cattle as much as we can as opposed to keeping them in all year which is more expensive. Since then it has improved.
My Grandpa came out here to North Dakota with $40 and a Model T Ford. In 1922, It will be 100 years here shortly, you mentioned faith. In 98 years we have never turned a wheel in ANY of our fields on a Sunday. NEVER. My dad now is 87 years old. Im 44, Dad still helps out what he can. I can honestly say that our 1600 acres are an exclusive family farm. The only thing that saved me was my wifes online business. THANK GOD! She has kept our family afloat for the last 7 or 8 years. In wheat country its really really bad currently. Hopefully, its gets better soon. Going to church tomorrow to pray again. Have a blessed day. Thank you!
Yes sir , family was in dairying for over 75 years, i sold cows in 2012, broke my heart but now much better income as an electrician. Sorry to say you can starve farming....but you can sure as anything.
@@johngnipper1454 - 2 major dairy companies filed for bankruptcy last year, dairy farmers are getting hit even harder this year, hopefully you're doing well now.
I'm originally from a big city but moved to a small farming town for school. I lived with a guy who worked on his family farm on the weekends and during school breaks. His work ethic blew my mind. He would wake up everyday @ 4am to drive a few towns over and work on the farm. He is the most hard working and humble person I've ever met. It definitely changed my perspective. I just want to say thank you to all the famers for feeding the rest of us. You guys are really the backbone of America. God Bless you and your families
I don’t care how big and tough of a guy anyone is I know everyone can agree with me there is no one like your mom. Those of us who are fortunate enough to have our mothers around really appreciate them. That was the biggest thing I got from this whole video. Mama corn star works a full-time job and she still cooks and provides and is a great mom to her family. Coming from a farming background I already knew all these realities but I think you did an amazing job on this video Cole. A lot of people really need to see this
Great Cole very informative a lot people think that a carton milk , loaf of bread and those half dozen chops come from the supermarket. You are lucky that you get subsidise by the government in America or U.S.A. . A Australia the only help we get is fuel exercise .. The only way I found to get ahead is not keep up with the Jones next door you go broke .. I have been a farmer for forty five years until due to ailing health . My father sixty years in farming . My grand father did fifty years until bad health . My great grandfather did forty years . One thing you did not talk about is inflation of purchasing power over selling of your commodities has changed a hell of a lot . In 1975 TOYOTA Hilux was $ 3000-00 , 1979 same vehicle $ 7000-00 , 1989 same vehicle $ 21000-00 . In 2000 same vehicle $30000-00_ In 2005 same vehicle $ 47000-00 . Average pricing Now 18mth old steer 1975 you would get $ 300-00 . Same steer 1979 $ 350-00 . In 1989 same steer $ 450-00 . In 2000 same steer $ 580-00 . In 2005 same steer $ 650-00 . A steer same 2018 $900-00 . Same vehicle $56000-00. Ton wheat. 1975. $ 130-00 , 1979 $ 135-00 , 1989 $160-00 governments step in because of poor pricing pool system was set up 2000 $200-00 in 2005 $ 240-00 . In 2018. Wheat is $ 160-00 You see the comparison over the years . The only government help is 0.3845 cent Subsidies per litre on fuel in the paddock Your truly Ian McCallum. E-mail armshot75@bigpond.com If that doesn’t work. Try. armshot75@gmail.com Keep in touch good luck Cole
I've lived in cities my entire life and have never even been on a real farm, and yet I'm compelled to watch this video all the way through. Really fascinating stuff to watch! You've got a great presentation style; and the information you are sharing is the right blend of technical and simplicity for a complete novice like me to understand. It's cool to see how a bit of the ins and outs of a lifestyle I'll likely never know otherwise. Got a new subscriber!
Dear Mr. Cole The Cornstar, you have the equivalent of a MBA in Operations Management all rolled up in a great family history story. You articulated the overview of farm finances beautifully. Thank you!
Proper Management of things is critical in life! It takes excellent management to make a good profit or any profit. Also you need to decide if you want to invest in a 30k piece of equipment or use the 30k to pay your past due bills before you get cut off. While the 30k saves you each year, the bills are due now, really due now as past due!
I grew up on a small dairy farm with tobacco as our cash crop. When I was 16 years old my Dad said I could raise an acre of tobacco for myself so I would have some money for college. After all the hard work of planting, hoeing out all the weeds, topping the tobacco, harvesting was going to be done on Monday. The Sunday night before harvest a small hail storm shredded every leaf of tobacco on my acre of tobacco and the stalk of the tobacco plants was the only part left standing. No insurance on the tobacco crop and I ended up with no tobacco harvest and no college fund. So I know the feelings all the farmers experienced who have had to leave their farms in the past couple of years because of the weather and low prices for their crops.
I was lucky enough at 17 to sit at the round table, you all know, the local greasy spoon for lunch every day in the town of 500... neighbor offered me 175 ac for rent, had one more year of high school and was on my way to Purdue Uni... well, that was the start of a 18 year farming carer on our long established family farm, obviously wasn't the last farm I rented bla bla bal, and after 18 years I had to give it up,,, yep I sure miss it... but Corp IT sure does pay better... dad at 76 still plugging away farming ~1000 ac...
Corn has had a great run over the past 2 years, hopefully y'all are making good money now. Very enlightening video, thank you for this great effort. Farmers are a great example of keeping the faith through good times and bad.
My extended family has a 800 acer farm that has been in our family for 100 years and I always wanted to work it. My uncle who was the main care taker would always tell me there was no money in farming and I thought he was telling me that so he could reap all the benefits. I think I owe him a apology.
People growing the right niche stuff are making more off one hectare than some one with 100 hectares and tractors etc. Big business farming is designed to barely allow farmers to stay afloat. The food prices are closely watched and controlled. It is all finely tuned to make sure farmers stay farmers. To be a successful farmer you have to be a successful businessman first. Doesn't hurt being a polymath either... but those types usually go into propulsion engineering
Dude, I grew up on a farm -- and I've learned more about the business of farming in your 1 video than I did the 20 years I lived at home. 100% agree though. This same kind of trend was fluctuating as far back as 1977 for my dad. I'm sure your dad and grandfather have seen some crazy highs and lows too. Best of luck man. I really appreciate what you and your family do.
You look to be in your mid 20s. However your knowledge, and breakdown about how it works shows how much of a professional you are. I can tell you have put 110% of yourself in to your farm and I I know you will be ever successful in life. I've learned so much from you that I almost even want to figure out how I can get in to the fields but I dont have any connections
He grew up on the farm. If you spent your entire life doing one thing, youd be a fuckin philosopher on the subject as well. Its not impressive if theyre always broke...
I wouldn't advise trying to get into farming if you didn't grow up on one or have close connections. Too expensive to buy or rent land and machinery is very expensive as well. The only way that someone from the outside would really get into it is by winning the lottery and buying land that way. Otherwise dont try it
Excellent summary Cole: as a former farmer and now a financial person, that was one of the bests summaries I have heard. So many rabbit holes to avoid when trying to explain this
Easier answer. You don’t go into farming to make any money. The government subsidizes the vast majority of farmers to stay in business. It’s an honorable job which takes a lot of hard work
The government shouldn't be subsidizing any businesses. If your farm can't compete with others, it should go bankrupt, that's how the free market works.
@@lukeg8466 If that happened, every american farmer would go out of business and we would be dependent on foriegn countries to feed us. Not a good idea. Some sectors of the economy are strategic assets and need to be subsidized because there is a bigger purpose to them than just making a profit, like you know, making sure we don't starve to death or are at the mercy of whatever country could feed us at a cheaper rate.
@@jacksonperkins7824 Or our fat asses would take food more seriously, paying attention to the quality and generating less waste because we would be spending actual market-driven money for it. New Zealand cut their farm subsidies and went from an importer to an agricultural exports powerhouse.
Great video, very informative! I had no idea how expensive it was to farm and how thin the margins were. I'll never look at corn or beans the same way again. Thank you for an easy to follow and explain video. I enjoyed it!
Yeah, most successful farmers learn to hold grain in storage to get better prices. Also how to play the Futures Markets. In the futures market, you agree to sell something at a certain price in the future. A futures contract you could fill today is called a CASH PRICE. A farmer that wants to gamble can sell or buy futures contracts. When to sell the harvested grain is a tricky thing. Prices could rise, maybe, or they could fall. Also you have to pay your expenses so you need to just sell the crop to get that cash instead of letting the crop sit in bins at risk of rotting, fees from storage, or prices falling more!
Daddy Cornstar needs to get pizzas/taco's made with corn meal/flour instead of wheat. Might as well prop up the business with what you produce. Cole, your fuel bill seems rather low. When I ran 3 smaller tow trucks and one large wrecker, I was paying over $4000 a month in fuel. The equipment repairs being done in-house verses sending to a shop. Provided you have the skills and parts, in-house save you downtime. Having to haul a tractor or combine to a shop, then get it scheduled into the shop for repair can take days at best, weeks or more. Possibly look into separating the repair business so you can write off more expenses as well as possibly repair others equipment like you do the one neighbors skid steer. Set up a leasing company to lease the farm the equipment instead of the farm proper owning the equipment. It's paper mumbo jumbo, but perfectly legal.
"For we walk by faith, not by sight"....thank you for opening the eyes of those who don't farm. Its not an easy life, you must love the land and what you do. And Yes...the first and most important thing...faith in God. Keeping you all in my prayers❤
What an interesting video. Having no idea about farming this was a great insight into the life of a farmer. It's no wonder the stresses on farmers are so high and the time spent and efforts undertaken are so under appreciated by many.
Most people: don’t talk to me about work outside of work. Farmers: hey I’m going to work after I’m done working and then we can talk about work until we go back to work
My uncles worked and owned a ranch that they grow soybeans, lentils and winter wheat on as well, but since my dad left the farm and we moved away when I was young I've never had any clue about how this stuff really works. This was really informative and insightful into what inklings I did have already, even if it is all averages and in a different part of the country (western Montana no less) It's really cool to finally have a better idea of what my family deals with year after year.
@@Samtell D'oh. That was a brain fart - I do know better. Sheesh, I feel stoopid now. I'll not correct it so that people can follow this comment thread later.
My dad did some small farming in the late 50s. When my mother and I were cleaning out his file cabinet I found a ledger of his expenses and such. I now understand why his $500 loan from the bank was considered income. Thank you for taking the time.
im from the netherlands so this is completely different (different farm sizes, different crops, different currency, different rules), but still really interesting to see, thanks for making this video ! hope other non-farmers learned alot too
Cole this is the BEST explanation of a Farms Finances I have seen on TH-cam. Thank you for putting so much time into it for all of us to see! Job Well Done 👍🏻 I never knew how expensive a sprayer could be, plus the chemicals and fertilizers used. I am sure your farm is far more profitable because you own most of your equipment outright. Keep up the Great Work! I enjoy your videos every week. Especially when we are frozen inside up here in Minnesota! Thanks!!!
Cole you are a very intelligent 22 year old man, and you are a great asset to your family farm, always trying to better everything and be more efficient , WOW that is a lot of work and worry for such a young man to handle along with all the farm work and You Tube work and school as well. I for one am very proud of you and very impressed. Remember to take a little time for your self to enjoy life while you are still young and healthy enough to do so. God Bless you and your family, THANKS from a old farm boy
Nearly 50 years ago I took a basic Economics class in high school One of the enduring things I remember was "the family farms don't make money" It was true then and in the past and now and in the future.
I just want to say I've been in business, worked with businesses, wrote software for businesses, etc., for about 50 years now. I know how different industries work and always found them interesting. I live in Iowa also, and in fact lived for 17 years in one of the towns you drove through after the Derecho. My brother had farmed for a number of years, and I had an uncle that farmed. I also worked on a pig farm in the late 70's. With all of that, what you taught me in this video is far more than I ever knew about farming and the business of farming. I want to thank you for that. And thank you and your father and all of your family for working the ground. I appreciate all of the information you gave. I felt you were honest, and I know you gave out a lot of information. I haven't watched your wrecked farm video, but will soon. I pray for your and your family. Thank you!
You remind me so much of Leonardo DiCaprio!! Well, as his character Arnie in, "What's Eating Gilbert Grape"! Only 1 difference... You're a genius!! I truly love the enthusiasm you put into your videos!! Great editing, too!! I first saw your video on fixing up your grandfather's beautiful farmhouse & now I can't stop! I don't even HAVE a farm! It is so refreshing to see a young man like you, so devoted to his family business & making it fun! Your mom must be an amazing woman, that must be so proud of you!! I see you must get your sense of humor from your dad! 😁 Keep it up, man!! Be safe out there! 🌽🌽🌽 🚜🚜
Cole, this video has just took the top spot as far as farming education videos. At least in my view. You explained just about everything without blank spots that seem to happen in others videos when they try to explain farming economics. Thank you!!
Prayers for all the farmers out there. We appreciate your hard work and are grateful for all of your efforts to put the best food you possibly can on our tables. Good job for taking what was in your family and increasing the value with your hard work and effort! Praying for a prosperous 2020 and future on your farm!
great video. so my family came from iowa and adams county Minnesota farming. im the grandson in Pennsylvania and honestly feel your pain. cant imagine 1200 acres. i have a few family members in osage iowa with under 10 acres. i know sometimes it feels like a loosing battle but it does get better, part of me wishes i was there with you. stay strong brother
You can find farming vids all over TH-cam. It’s ur character, spirit and the family behind you that tunes us viewers to you. You are an awesome young man with an awesome family. Keep it up
I'm a city man, I couldn't tell you the first thing about farming. But this video was so informational and so in depth that you just can't help but to pay respects for that type of hard work. Thank You!
Your right, these days the price of tillable land is very high and it would be impossible for most of us to even get a loan to start with no more then 10 acres on good credit. My dad owns a 22 acre small farm but he's been wanting to upgrade close to 100 but I think over the 40 some years of saving money from working at the factory and what he was pulling from the farm I'm not sure he will ever be able to upgrade because over the years land just keeps going up.
The price of land has gotten to be unrealistically high. The price of farmland used to be reasonable in terms of return on investment. Something happened and pushed the price sky high. Even with high rents and a 5% cap rate the best farmland isn't worth over $4000 an acre. You are right that unless you inherit it like Cole, there is no way you could ever buy in.
My dad and grandad were farmers, I’m 66y/o, back in the day when times got tough they got jobs at a lumber yard and factory. Today’s farmers meet up at the local coffee shop or bar and discuss what farm subsidies and tax exemptions they think they are ENTITLED to
You're very freaking smart. I run a small business and you just upscaled everything for me a lot. I love your work ethic so much and your faith to God. God bless you brother!
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im not a farmer nor am I trying to become one and i have no idea how i came across this video but i just sat here and watched the entire thing and found it very interesting. Thank you for being a farmer.
Damn same here. Idk why this vid came up. But watched the whole thing haha
Literary same. I watch a lot of accounting stuff on here so maybe that’s why it popped up, but it’s very interesting
same
justin hoogeveen same
justin hoogeveen same here watched the whole thing
As a farmer I can tell you that there is a simple trick to making a small fortune from farming, you have to start with a large fortune.
Lol! That's the way we talk about horse people here in northern Michigan. The fastest way to become a millionaire owning horses is to start as a billionaire, and pretty soon you will be a millionaire.
TrueBlue Blooded lol, same with aviation 😂
😂
My farm has been in the family for many, many years and it feels as tho i started with a fortune with what we already have, and thus am making a good income. increasing just about every year
sooo, inherit the land and equipment?
This man farms all day then logs on to minecraft to check on the farm
What an absolute legend got my sub
Thank you!
my friend is a truck driver, and he plays a truck driving video game, in his truck, every night. i learned: find out how to get paid to do what you love, and you'll never work a day in your life.
@@ColeTheCornstar Have you even investigated the roller crimper method? Many farmers get good results with it and lower inputs. I can dig up a vid if you like.
MechanicalCheeze big mutha truckers lol
@@Schoolship. American truck simulator?
That feeling you get when a 20 something farmer knows way more about finances than most “adults”
Respect man
@ThoughtCrime I believe he put it in quotes for this reason.. adults meaning older farmers who have had decades of experience.
@@howdy8301 Not just farmer, but older people in general
@@jacob5014 yeah
@@tjs8301Lol
i very much agree !! keep it man
He's very articulate. He hit all of the possible issue topics right off the bat!
Thank you!
Cole The Cornstar so those *buisness* expenses are not tax right offs?
@@juandominguez8536 tax write offs can only be had when you have a profit to write off against. Expenses are a big part of farm expense, and if you ever do farm taxes, you will see they can be bounced against income, but are not write offs.
Wonderful. No filler words. The other youtubers need to take lessons from him.
@@bill45colt So, they work for free? He glossed over the part where the family is paid well as employees from the farm corp.
How to make a small fortune in farming ...
Start with a large fortune.
How to make a shitty comment
Steal other people's jokes from 4 months ago
Wrong.
It’s called hard work and doing without! What you see is the result of 2.5 generations of Bloid sweat tears
No one works to make negative a year, this video is misleading, if they were hurting that bad they would not have the equipment they do. Much of what I see on his farm is a luxury for many small farmers. Also, think about it they are paying for an accountant to be in the red, how much sense does that make?
cameron yogibear hi I’m Christopher yogiballa we almost have the same name
@@dustinryan9671 Perpendicular cranial rectitis. So it's true. Damn it! I thought they were just joking around when they told me. Okay. Deep breath...FUCK!!! I thought the stench of shit would be confined within the afflicted's cranium! How did it waft into the states that grow the food that feed these...these...these... What the hell are they? Oh, Geezus!
I grew up surrounded by corn fields in northern illinois, yet i learned more about farms in the last half hour than I did in the previous 30 years.
hey i live in northern illinois too rockford what city are you in
Ben Wells Rockford, but not for much longer. This place gets worse every year.
I still live around fields in northern Illinois lol
Henry Lubkeman I’m in the same area, just over the boarder in Wisconsin
I live near Chicago in Northern Illinois and I've always thought it was amazing when you get out and start driving 20-30 minutes from the metropolitan areas how much land and farms there are it's amazing how fast it is
The farmer is the only man in our economy who buys everything at retail, sells everything at wholesale, pays the freight both ways. (John Fitzgerald Kennedy)
*laughs in automotive technician* I also don't get guaranteed pay from the government for having a bad year.
@@anthonyblackburn4148 Sorry to hear but you may have one or two bad year(s) but a farmers life evolves in mostly bad years and rarely a good year
@@anthonyblackburn4148 I don’t mind paying taxes for farmers when they have a bad year they keep us alive
They are heavily subsidized by the government because they are heavily controlled and regulated. It’s not a free market.
They are called welfare farmers, poor old me, as they drive an eighty thousand Denali and act like they dont have 2 nickels to rub together
a wise old farmer once told me this "the quickest way to make a small fortune farming is to start with a large fortune. "
Idk if u typed it wrong or im stupid but i didnt understand shit u said
@@urboyalan4006 If you have a large fortune and spent most of it you'll still have a small fortune
@@urboyalan4006 you might be stupid
@Bill Zussman but a framer can give as good advice as a farmer sometimes
no, that was albert einstein
That explains why I am always broke in farming simulator 2019! So I did win the game!
I'm playing that now, excepted a harvesting contract for 10000 euros , 1 day still not finished harvesting this guys field
Silage from grass.
As much as any non-corporate farmer can.
When I told my grandfather I wanted to farm he said “son, if you can afford to farm, you don’t need to work”
yep, that's about it
Unless you start small and supply local business
@@thesusboomerroblox6516 👍
@@thesusboomerroblox6516 yes
my grandfather said son if your lazy bum butt can get out of bed at 4am I'll buy you a farm. I work a desk job in customer service.
I worked every summer back in the 1970s for Indiana farmers as a teenager before moving to Ohio. They were some of the hardest working and kindest people I've ever met. We are surrounded here in Ohio by farms and we often see the equipment rolling in the springs, summers, and falls. After watching this video I've gained a whole new insight and respect for farmers. God bless them all.
That was a great video Cole, you put a lot of effort in this and it shows!
Hey walker farms ❤❤❤
My YT feed thinks I am a farmer. Ads for seed, root improvement, Case...seeing as I watch Cole and Welkers and Millenial Farmer I guess I pretty much am a farmer now. If I come during harvest can I drive a combine? You don't have to pay me!
Hi Nick , just for the record I'm behind welkerfarms alot because we've always bought used and restored it better than new.
We
@@toddgolling5760 it get old once the novelty wears off lol 16hr sittign down looking at the same shit gets boring real quick
Who’s else didn’t look this up and is watching
Well he has 201k subs and yuh that's how recommendeds work
@@AlcoholTabacoandFirearms 202K
Yup
I am. Got to hand it to the kid though, his voice and quick talking, keep his video seamless.
I don't know why, but after watching this kid I feel like I need to go back to school!!!!
Leaned more in 30 minutes than 2 years of college
Me too
Your TYPO besmirches your "truth".
Duane Cotter that’s sad
That's the farmers life. Gotta know how to do everything.
Trade school or apprentice programs
Farmers, Soldiers, Doctor's, Seafarers and truck drivers 🙏 you have my respect.
I am super impressed with this young man for knowing all the ins and outs of what it takes to run a farm and taking the time to do all the numbers. I dont farm but I do regard the farmer as the most important in our society and it would be nice if we could find a way to stop spending on bs and pull some money and resources to help them out. All that aside this was a great video
Thank you!
It's an unhealthy situation we got us in, doing industrial food.
@ITHEREONETHATHASNT Wait what? So if there was political discourse between two nations and one of them gets all their food from the other. Bam you have no food. Where's the logic?
@ITHEREONETHATHASNT Also, literally everything you own is because of CORN. You should really do some research.
@ITHEREONETHATHASNT we've spent more money subsidizing farmers under Trump than we spent bailing out the entire auto industry in 2008. Farmers are the biggest welfare queens in the nation. Billions of dollars in subsidies each year.
The farmer is the only man in our economy who buys everything at retail, sells everything at wholesale, and pays the freight both ways.-JKF
Now that is a true statement!
JFK
any sort of production for anything ever also does that
@@justinc2633 that's what i was thinking
John kredrick fennedy.
farmer low key flexing on rappers with his farm equipment
My thoughts exactly, he flexed low key the whole video over everyone
Jay I want to hear the rap version of she thinks my tractors sexy
Rollin down the rows, sowin' seeds, sippin on water and tea, laid back. Got my corn on my mind and my mind on my corn.
@@spankthemonkey3437 It is more like the song "I've got a brand new combine harvester" - look it up.
Next video gonna be a music video with his tractor on "dubs"
There’s always gonna be a special place in my heart for farmers like you. My family on both of my parent’s sides of the family have farmed but have since retired, except for my grandpa, but he just has a pasture and it’s more of a hobby farm. Thank you for everything farmers like you do.
I can’t imagine how long it took to not only film this video but gather all the numbers and edit it all together. Good work. I’m a marketer from California. And you held my attention for 34 minutes. Loving your content. 🤘🏼
The seasons literally change throughout the video 😂
Hey I'm also a wheat farmer, and I understand the struggle of running one. No one really gets it, so thank you for putting the facts out there to help shed some light on the business.
I really gotta thank ya man.
@HeadlessHorse Would you say his using average for prices make his income on the low side? And wouldn't a loss on paper mean no taxes or significant benefits even though net worth went up? Thanks bruv good luck!
@@pcd1377 for wheat farming I would say no. For I would about 100 years now wheat prices havent changed, but everything else has gotten more expensive. His income is probably higher than what he actually got.
@@headlesshorse6223 Yes, that is true. However, remember that he did say at the beginning he couldn't give exact numbers, as he didn't want competitors to know his farms specifics. Even though his income was probably higher, his farm most likely was still well into an annual loss in income...as if the story of his mom being the one to keep the family afloat wasn't a tell-all to begin with.
@@supercala332 very true only reason we are still going is because of wise investments and multiple jobs
Farmers don’t get enough credit for doing what they do. Appreciate what y’all do my man.
Absolutely. They put food on all our tables at affordable prices.
@@VenturiLife why i can't take "funny" emojis on comments?
Yeah, except this kind of monocropping has destroyed the soil and has left us with a terrible future.
Well considering he’s lying about these numbers I wouldn’t give them credit for anything. Farmers make plenty of money. This kid is taking numbers from a poorly run farm or a smaller farm and applying them to their farm. Nobody in their right mind would give a farm more money if they were losing $240k a year. Maybe he took their worst year ever and used those numbers. Idk what he did but this definitely is not legit.
@@brannanburdette2558 how would you know
Thank God I’m a city guy, but I do have the most respect for the farmers of the Midwest. Especially for you, Cole. You and your family are just trying to make a decent living out on the farm.
Thumbs up to you, bro!
My Grandfather's, who was a farmer, favorite joke was "The fastest way to make a million dollars farming is to start with 2 million". Every day their is more and more truth to his words
Word! You got me cracking! We got to be aware of Banksters that will pull every trick just for the sake of dumping us in the streets, penniless! And grow with our own resources, progressively.
So should I buy the farm?
I heard this in college from one of my ag teachers.. very encouraging for a young farmer😅
@@wannabecarguy Yes! And, Skritshed, here you hace another way of making a million. By flipping.
@@rodolfoplasencia4953 Flipping farm's is the ONLY way to cash crop now a days
I feel like I’ve just taken a masters course in farming, finance and philosophy in one sitting. I have to say you are UBER smart!
I don’t known why I’m watching this, I’m a 29 yo dentist from Brasil, but I can’t stop watching it!
How much does it cost to have dental IMPLANTS in Brasil? Thanks.
I'm in the same situation haha
*-144,000 dollars in debt*
“Here comes one of the bigger expenses”
The way he’s talking I feel like I should be writing notes
This will all be on the test!
@@daltonbrasier5491 LOL! I just remembered all the hype about Google Glass before launch, and then the *thud* after. I was thinking that maybe it was because people like me would use it to pass that test, so it was thrown in a drawer somewhere, but the tech is actually being used in ag to help farmers.
you should take notes all the time.. life hack
Half way through I'm depressed for you. Dammit you shouldn't be so broke providing food for us all. Thank you have a whole new appreciation.
They're broke because other countries can do it far cheaper and we shouldn't subsidize an industry that produces debt instead of value).
And no, there would still be enough food for people, because if they were actually needed to feed people, they'd actually make a profit ...
@@awax2585 It's important that you DO subsidize these industries because what the heck are you going to do when all those cheap labor countries are no longer cheap? Now you're either stuck rebuilding your long dead infrastructure, you probably have barely any qualified farmers left, or you say fuck it and continue paying other countries to do it.
Think it's a joke? How long do you think it will take for China, India and Africa to stop being 3rd world-ish and join us in the 1st world? Eventually their citizens won't be comfortable being paid pennies on the dollar to do shit for us, it's already been happening in the tech industry, it's only a matter of time. Could be a couple of decades more, or maybe even a century, who knows.
I just want to point out this is not a farm, this is a combine harvesting operation. Not a farm. Farms involve animals, livestock, and multiple types of crops. This is a combine harvester federally subsidized and insured operation. We have 500 acres in rural New Hampshire where we raise Cattle, Pigs, Chickens, Ducks, and harvest timber among other endeavors. His combine operation makes money, and if it doesn't they have crop insurance. These guys are more than fine, worry about your local farmers who actually farm.
@@TachibanaTengoku I don't think it is fair to subsidize one industry and tell the others to fuck off. If you are going to pick your favorites then I want to pick mine to be subsidized as well. 80% of everything in markets is brought to you buy Corporate farms. This guy in the video makes up 20% of it. We throw away 43% of all food in this country. We can do without Mom and Pop subsidized farming. We can't do without teachers, doctors, etc. Let the farmers turn to micro farming, and indoor hydro. They need to get into the 21st Century. Farming can be profitable but you can't do it like great grandpa anymore. And you shouldn't want to, it's wasteful. They say in the future micro farmers will be millionaires. And they won't need subsidies to do it.
P>S I get a little sour on the subject of farm subsidies because my entire family has profited from them while constantly complaining about minorities on welfare. Our farm subsidies are a much larger piece of pie than food-stamp cost to the tax payer. Yet they still managed to find a way to be a hypocrite. I hate hypocrisy with every fiber in my being.
Awax it produces debt because it costs a shit ton to grow corn and soybeans on the level that they do, which they have to grow that much or their debt would be greater. If people would buy food in bulk from local stores or farmers markets it would be easier on farmers and live stock farms.
You really just kept my attention on a video about farming for 30 minutes. Well played sir
2x's speed my friend
@@samin8ter it doesn't work if you're watching it in your second language though. Best I can do at least for now is x1,25
I thought the exact same thing
Me too. Loved it and I live in central Iowa.
Honestly though lmao
Really appreciate the time that you put into this, it absolutely shows. And it was an education for me to understand the economics of farming. This is definitely an area where we need to reconsider our priorities as everyone needs to eat. And I for one would prefer that we keep the family farms going versus allowing the mega-corps to take over farming. Keep doing what you do!
Farmers feed America. We can't live without them. I wish people had more respect for the gravity of that statement. You do good work sir. Keep going.
Ya and construction workers build america and i dont get gov substitiesy all my experiences come from my pocket
@@chrispeters1510... true, but without any food in your stomach... you won't be building a dog house, never mind "building America". Don't take me wrong, I do understand what you're saying.... and as an (now retired) independent Owner/Operator in trucking, I (none of us) never received any gov't subsidies either, and we had a massive amount of expenses and taxes as well..... but, there were "write offs" to.... just like most any other business, but we needed to really "keep a sharp pencil" as they say.... it, like farming... can have good, bad and even disastrous years. The main thing that really sets the farmers apart, is the fact that after all the hours, expense and hard work put into planting, etc.... in the end, they are Completely Dependent on "just the right weather conditions, at the right time" from planting to harvest.... and we all know how That can go..... especially in "these days".
@@chrispeters1510 - You don't get the difference here, really?
farmers also poison everybody and all land with glyphosate/roundup and other shit... it will literally round up your entire gastrointestinal tract
Majority of my family are commercial farmers in Iowa Central Iowa Northern Iowa and Southern Iowa
Cole I absolutely loved the financial review. Well done. Most folks don’t have a clue how difficult farming really is. God bless
Heck half way through, my head hurts. How do you eat, dress, survival is a must. Right on momma cornstar, what a gal. God is perfect substance.
That's why Cole wears his jeans till they are nifty shorts and his boots looks they been though the combine. lol!
I have farmed my whole life & believe me what he said about this is personal n that is absolutely true w/most people who are self-employed/business owners, however farmers take this to a level like no other being on the planet. When I was younger I often use to think the silliness that went on between other farmers was just ridiculous until I seen just how awful that they were to each other when for whatever reason someone seemed to be doing better than them or how or why or or or or... Instead of helping each other it is extremely opposite of that in some cases just down right mean. Now it is just best to keep things farm $$ related items on the DL for it is a much better way to remain in good relationships w/your fellow farmers...
So it is why he has said slot but honestly might as well said nothing as it has nothing to do with anything pertaining to their operation
I bet Cole tried piecing together the go pro that went through the combine! I bet he could of if he had a small enough screwdriver. In all honesty I don't see how Farmers can make it work. But sure glad they do.
welfare
Cole.. been watching you for a while now love what you do have a question about the Oliver what happened to all the sheet metal?
My parents were farmers, they're selling all equipment and rent some of the fields nowadays. The farm was just too small to survive in the modern economy. A trend too common in my opinion.
As a farmer it's almost impossible to raise the prices or no one will take your product. The selling price is practically locked but equipment and utilities cost keeps going up.
i got mine from my parents I have 35 acres, I do a community farm,, They need to do that
35 arces is a small paddock
This is why my grandfather and father sent me to school. to live a different life did not want me farming. outside of the money normal people have no clue the sacrifices and the physical and mental stress this work puts on a person.
Maybe he knew you weren't tough enough to hack it
@@travisdavis3974 they knew he was a little funny from year 4
@@bestvidsdottk right!!!
@Yellowhammer okay, you needed military discipline because you couldn't wake up and follow your own plan.
doesn't every jobs?
I like this kid. I would shake the hand of his entire family for their hard work and dedication.
This comment hasn’t aged well.
@@TommyT777 LMAO
@@TommyT777 Why? Covid or did they do something?
@@zoranernjakovic7247 dont ask stoopid questions
*I moved to a small town that i found out almost a quarter were farm owners. Most high school students were working in the fields. I joined my friends who convinced me to work with them. I am glad to have worked in the fields. I learned what hard work was. The farm owners are amazing people. Helping anyway they could. Just observing on the job i realized how much goes into being a farmer. Mad respect for farmers and the FFA.*
My wife's family has a large farm in Boone and Hamilton counties and I've learned more about farming in one video than 30 years of visiting central Iowa. Great stuff! Thank you!
I'm glad you are using state averages. I really feel your own personal finances are totally none of my business and I never, ever, wondered how much money your farm made. I just enjoy your videos , enthusiasm and hard work.
Completely agree.
Me too. I wanna go volunteer to work for the kid... I mean young man.
I'd like to see Zach the blowhard Johnson's creative financing!
Some of you have NOOOOOO IDEA what TH-cam can bring in.
anastyb why be so abrasive? No one forces you to watch anyone’s channel.
@@dbutters3927 You are right. TH-cam videos take a lot of work and content to bring in a lot of money gaining many subscribers. Video editing is no small task when done with good design. Cole is getting very good at it and will only get better with the more he edits. I'm pretty sure he is using Final Cut to do his editing since he uses a Macbook to do his editing. I wish I had that kind of skill. Maybe some day I will ...
My Dad always put it this way. " Well, farmers ""see"" a lot of money. The trick is keeping some of it"
MrDaChicken you should try Trucking it’s worse
I heard: How to make a million dollars farming...Start with two million dollars.
@@andrewinbody4301 The problem is - the rich just dont have enough yet, Im sure that when they decide they have enough and dont need to charge so much that they will let us know- then it will be easier .
MrDaChicken that's a good way of putting it
@You Might be interested in what life is like in the Democratic Republic of Congo. South Sudan, Libya among other countries where there is little to no functioning government. In these countries there is little that functions at all. Life is brutal and short for most who live there. Go there or open a book and read. You may end up with a different outlook on government in general. Most rational thought supports the modest cost of government is worth its cost.
I never ever comment on post but he really caught my eye with the first 5 minutes seems truly genuine and honest so I must say good work cole!
Thank you!
As a dairy farmer in Northern Ireland I found this very interesting. To see how the earnings can be got then spent in a cropping farm. Also watched the full video too so the way you filmed this is head and shoulders above any film coming out of Hollywood at the present moment.
I have heard that it costs more to make a gallon of milk that what it sells for
@@cooper8318 In 2015 that was the case, it was almost equal to the cost of production for us cause we graze the cattle as much as we can as opposed to keeping them in all year which is more expensive. Since then it has improved.
@@alastairatcheson1407 I'm glad it has improved but that is still a crazy situation to be in
I have nothing to do with farming, but somehow wached this one till the end.
Andrey Rudenko Same
same
Same.
Same bro
It is an important part of our economy.
My Grandpa came out here to North Dakota with $40 and a Model T Ford. In 1922, It will be 100 years here shortly, you mentioned faith. In 98 years we have never turned a wheel in ANY of our fields on a Sunday. NEVER. My dad now is 87 years old. Im 44, Dad still helps out what he can. I can honestly say that our 1600 acres are an exclusive family farm. The only thing that saved me was my wifes online business. THANK GOD! She has kept our family afloat for the last 7 or 8 years. In wheat country its really really bad currently. Hopefully, its gets better soon. Going to church tomorrow to pray again. Have a blessed day. Thank you!
All it takes is the "say so" of some crackpot celebrity doctor who wants to make a name for them self to ruin the life of our nation's farmers.😕
Yes sir , family was in dairying for over 75 years, i sold cows in 2012, broke my heart but now much better income as an electrician. Sorry to say you can starve farming....but you can sure as anything.
@Jeremy Shaffer looked at that , the other farmers around me says it isnt all its cracked up to be, again high input costs.
@@johngnipper1454 - 2 major dairy companies filed for bankruptcy last year, dairy farmers are getting hit even harder this year, hopefully you're doing well now.
@Jeremy Shaffer Give it a shot,...
I'm originally from a big city but moved to a small farming town for school. I lived with a guy who worked on his family farm on the weekends and during school breaks. His work ethic blew my mind. He would wake up everyday @ 4am to drive a few towns over and work on the farm. He is the most hard working and humble person I've ever met. It definitely changed my perspective. I just want to say thank you to all the famers for feeding the rest of us. You guys are really the backbone of America. God Bless you and your families
I appreciate you and your family and all the farmers Across America doing all you do. You folks deserve so much more. Thank you.
Damn farming simulator 2019 is quite alot easier than in real life
Edit: omg thank you for 773 likes. My record🥰
Filip mm
Epic games hmmmmm
This reminds me I need to sell my soybeans in farming sim 17
@@ExDud FS19 is free on Epic Games Store until... well.. tonight !! Log in and download the game :) much better than 17 imo :)
FreddyLuxe thx. I’m on console and just started. I just got game pass and have no idea where to get anything.
I don’t care how big and tough of a guy anyone is I know everyone can agree with me there is no one like your mom. Those of us who are fortunate enough to have our mothers around really appreciate them. That was the biggest thing I got from this whole video. Mama corn star works a full-time job and she still cooks and provides and is a great mom to her family. Coming from a farming background I already knew all these realities but I think you did an amazing job on this video Cole. A lot of people really need to see this
Great Cole very informative a lot people think that a carton milk , loaf of bread and those half dozen chops come from the supermarket.
You are lucky that you get subsidise by the government in America or U.S.A. . A Australia the only help we get is fuel exercise ..
The only way I found to get ahead is not keep up with the Jones next door you go broke .. I have been a farmer for forty five years until due to ailing health . My father sixty years in farming . My grand father did fifty years until bad health . My great grandfather did forty years .
One thing you did not talk about is inflation of purchasing power over selling of your commodities has changed a hell of a lot .
In 1975 TOYOTA Hilux was $ 3000-00 , 1979 same vehicle $ 7000-00 , 1989 same vehicle $ 21000-00 . In 2000 same vehicle $30000-00_ In 2005 same vehicle $ 47000-00 .
Average pricing Now 18mth old steer 1975 you would get $ 300-00 . Same steer 1979 $ 350-00 . In 1989 same steer $ 450-00 . In 2000 same steer $ 580-00 . In 2005 same steer $ 650-00 .
A steer same 2018 $900-00 . Same vehicle $56000-00.
Ton wheat. 1975. $ 130-00 , 1979 $ 135-00 , 1989 $160-00 governments step in because of poor pricing pool system was set up 2000 $200-00 in 2005 $ 240-00 .
In 2018. Wheat is $ 160-00
You see the comparison over the years . The only government help is 0.3845 cent Subsidies per litre on fuel in the paddock
Your truly Ian McCallum.
E-mail armshot75@bigpond.com If that doesn’t work. Try. armshot75@gmail.com Keep in touch good luck Cole
If Scotty Kilmer was a farmer this would be him
Rev up your tractors!
I bet those are Toyota tractors :D
Those tractors are not a 99 Celica so he wouldn't care. ha ha
Yes! Yes! Yes!
This is his son 🤪
I've lived in cities my entire life and have never even been on a real farm, and yet I'm compelled to watch this video all the way through. Really fascinating stuff to watch! You've got a great presentation style; and the information you are sharing is the right blend of technical and simplicity for a complete novice like me to understand. It's cool to see how a bit of the ins and outs of a lifestyle I'll likely never know otherwise. Got a new subscriber!
Dear Mr. Cole The Cornstar, you have the equivalent of a MBA in Operations Management all rolled up in a great family history story. You articulated the overview of farm finances beautifully. Thank you!
He has a college degree
Proper Management of things is critical in life!
It takes excellent management to make a good profit or any profit.
Also you need to decide if you want to invest in a 30k piece of equipment or use the 30k to pay your past due bills before you get cut off. While the 30k saves you each year, the bills are due now, really due now as past due!
I think I seriously learned more in the 30 minutes of this video than I did the entire time in AG/FFA
FFA is a joke put together by city slickers who want to know about farming but end up petting cows instead.
B Pacheco dumb comment
I grew up on a small dairy farm with tobacco as our cash crop. When I was 16 years old my Dad said I could raise an acre of tobacco for myself so I would have some money for college. After all the hard work of planting, hoeing out all the weeds, topping the tobacco, harvesting was going to be done on Monday. The Sunday night before harvest a small hail storm shredded every leaf of tobacco on my acre of tobacco and the stalk of the tobacco plants was the only part left standing. No insurance on the tobacco crop and I ended up with no tobacco harvest and no college fund. So I know the feelings all the farmers experienced who have had to leave their farms in the past couple of years because of the weather and low prices for their crops.
Be noon
I was lucky enough at 17 to sit at the round table, you all know, the local greasy spoon for lunch every day in the town of 500... neighbor offered me 175 ac for rent, had one more year of high school and was on my way to Purdue Uni... well, that was the start of a 18 year farming carer on our long established family farm, obviously wasn't the last farm I rented bla bla bal, and after 18 years I had to give it up,,, yep I sure miss it... but Corp IT sure does pay better... dad at 76 still plugging away farming ~1000 ac...
Corn has had a great run over the past 2 years, hopefully y'all are making good money now. Very enlightening video, thank you for this great effort. Farmers are a great example of keeping the faith through good times and bad.
My extended family has a 800 acer farm that has been in our family for 100 years and I always wanted to work it. My uncle who was the main care taker would always tell me there was no money in farming and I thought he was telling me that so he could reap all the benefits. I think I owe him a apology.
Gotta learn how to spell acre first. Damn I see u all over TH-cam. Unless it’s a lot of mike Bancroft’s out there
This is why Jesus was a carpenter and not a farmer. God bless you guys. Keep us fed.
Thought he was a shepherd?
He was a carpenter first.
@@mymusicaccount1456 ...lol
Yeah he grew up in a house of carpenters
Wasn't even real, but ok....
More folks need to see this video. Most have no clue where their food comes from and the effort involved. Hats off!
We actually make money farming here in Canada. Definitely getting tougher and tougher. Niche markets like edible beans have really been saving my skin
People growing the right niche stuff are making more off one hectare than some one with 100 hectares and tractors etc.
Big business farming is designed to barely allow farmers to stay afloat. The food prices are closely watched and controlled. It is all finely tuned to make sure farmers stay farmers.
To be a successful farmer you have to be a successful businessman first. Doesn't hurt being a polymath either... but those types usually go into propulsion engineering
the heart of America in this boy.
Nein
Dude, I grew up on a farm -- and I've learned more about the business of farming in your 1 video than I did the 20 years I lived at home. 100% agree though. This same kind of trend was fluctuating as far back as 1977 for my dad. I'm sure your dad and grandfather have seen some crazy highs and lows too.
Best of luck man. I really appreciate what you and your family do.
when the video started: oh damn i should have been a farmer
when the video was over: oh damn im glad im not a farmer
But when the next Cold War comes around and food sources go low. Dang should of been a farmer
@@monicabahena4629 I have a tiny farm to live on for a while
I just started 1.5 years ago...some up and down...but start to see money.
This was extremely interesting and eye opening. And depressing as the total income went way into the red. Incredible presentation. God bless farmers!
You look to be in your mid 20s. However your knowledge, and breakdown about how it works shows how much of a professional you are. I can tell you have put 110% of yourself in to your farm and I I know you will be ever successful in life.
I've learned so much from you that I almost even want to figure out how I can get in to the fields but I dont have any connections
He is 23
@@NoobOnFarm so mid 20s. Thanks
He grew up on the farm. If you spent your entire life doing one thing, youd be a fuckin philosopher on the subject as well. Its not impressive if theyre always broke...
I wouldn't advise trying to get into farming if you didn't grow up on one or have close connections. Too expensive to buy or rent land and machinery is very expensive as well. The only way that someone from the outside would really get into it is by winning the lottery and buying land that way. Otherwise dont try it
He is 22 years old and has already finished college.
Excellent summary Cole: as a former farmer and now a financial person, that was one of the bests summaries I have heard. So many rabbit holes to avoid when trying to explain this
Easier answer. You don’t go into farming to make any money. The government subsidizes the vast majority of farmers to stay in business. It’s an honorable job which takes a lot of hard work
[insert "honest work" meme]
The government shouldn't be subsidizing any businesses. If your farm can't compete with others, it should go bankrupt, that's how the free market works.
@@lukeg8466 more farms is nice tho
@@lukeg8466 If that happened, every american farmer would go out of business and we would be dependent on foriegn countries to feed us. Not a good idea. Some sectors of the economy are strategic assets and need to be subsidized because there is a bigger purpose to them than just making a profit, like you know, making sure we don't starve to death or are at the mercy of whatever country could feed us at a cheaper rate.
@@jacksonperkins7824 Or our fat asses would take food more seriously, paying attention to the quality and generating less waste because we would be spending actual market-driven money for it. New Zealand cut their farm subsidies and went from an importer to an agricultural exports powerhouse.
Great video, very informative! I had no idea how expensive it was to farm and how thin the margins were. I'll never look at corn or beans the same way again. Thank you for an easy to follow and explain video. I enjoyed it!
My grandparents farmed for 40 years. My grandmother said it best: "Don't become a farmer if you don't like gambling."
Jaiden Hoskins not literal gambling i think he was referring to sell prices [low][high] as in the sell prices on crops could differ at certain times
Yeah, most successful farmers learn to hold grain in storage to get better prices. Also how to play the Futures Markets. In the futures market, you agree to sell something at a certain price in the future. A futures contract you could fill today is called a CASH PRICE. A farmer that wants to gamble can sell or buy futures contracts. When to sell the harvested grain is a tricky thing. Prices could rise, maybe, or they could fall. Also you have to pay your expenses so you need to just sell the crop to get that cash instead of letting the crop sit in bins at risk of rotting, fees from storage, or prices falling more!
Love the content, but it’s hard to swallow that u lose 250k and maintain any lifestyle, redsiding that mansion was expensive
Nice stang.
@@stoneirvin6086 that's still a gamble.
One big expense was left out, the Daddy Cornstar Pizza budget. It must be massive.
31moondog 😂😂
31moondog Don,t forget the Hienz.
At least he gets castup donations. ;-)
Daddy Cornstar needs to get pizzas/taco's made with corn meal/flour instead of wheat. Might as well prop up the business with what you produce.
Cole, your fuel bill seems rather low. When I ran 3 smaller tow trucks and one large wrecker, I was paying over $4000 a month in fuel.
The equipment repairs being done in-house verses sending to a shop. Provided you have the skills and parts, in-house save you downtime. Having to haul a tractor or combine to a shop, then get it scheduled into the shop for repair can take days at best, weeks or more. Possibly look into separating the repair business so you can write off more expenses as well as possibly repair others equipment like you do the one neighbors skid steer.
Set up a leasing company to lease the farm the equipment instead of the farm proper owning the equipment. It's paper mumbo jumbo, but perfectly legal.
@@gungadinn and all those left handed gloves!#$$
"For we walk by faith, not by sight"....thank you for opening the eyes of those who don't farm. Its not an easy life, you must love the land and what you do. And Yes...the first and most important thing...faith in God. Keeping you all in my prayers❤
What an interesting video. Having no idea about farming this was a great insight into the life of a farmer.
It's no wonder the stresses on farmers are so high and the time spent and efforts undertaken are so under appreciated by many.
Tell me why I understand everything because of farming simulator...
Same
Fs 19 same u learned a lot from fs 19
I farm and play fs19
@@kervinhorst3450 So wait, you work then you come home and play your work? What are you, German?
same
Most people: don’t talk to me about work outside of work.
Farmers: hey I’m going to work after I’m done working and then we can talk about work until we go back to work
Sometimes we talk about work...WHILE we are working
this sir, is very funny. good one
I don't know many 22 years who know their business this well! God bless the famers.
And god bless the American citizens who SUBSIDIZE all those farmers with their taxes while the farmers sell to China.
My uncles worked and owned a ranch that they grow soybeans, lentils and winter wheat on as well, but since my dad left the farm and we moved away when I was young I've never had any clue about how this stuff really works.
This was really informative and insightful into what inklings I did have already, even if it is all averages and in a different part of the country (western Montana no less) It's really cool to finally have a better idea of what my family deals with year after year.
A farmer one the lottery.
News people asked "What will you do now!?"
He said "I suppose I'll keep farming until the money runs out"
*won
@@Samtell D'oh.
That was a brain fart - I do know better.
Sheesh, I feel stoopid now. I'll not correct it so
that people can follow this comment thread later.
Stupid**
@@lukeinderlied6405 he is a farmer
Okay......I'm slowly backing out of the room.
My dad did some small farming in the late 50s. When my mother and I were cleaning out his file cabinet I found a ledger of his expenses and such. I now understand why his $500 loan from the bank was considered income. Thank you for taking the time.
Was anybody else curious about how farmers run their farm and watched the entire vid??
Watch TomPemberton farmlife if you wanna find out :)
I did! Can't believe they farm when it looses money...
It is a curious topic.
Without farms, we don,t have much to eat ??
Bro
LightningVolt127 ya
im from the netherlands so this is completely different (different farm sizes, different crops, different currency, different rules), but still really interesting to see, thanks for making this video ! hope other non-farmers learned alot too
As a Dutch non-farmer this has definitely taught me a lot, even if it’s not entirely applicable to our country.
Cole this is the BEST explanation of a Farms Finances I have seen on TH-cam. Thank you for putting so much time into it for all of us to see! Job Well Done 👍🏻 I never knew how expensive a sprayer could be, plus the chemicals and fertilizers used. I am sure your farm is far more profitable because you own most of your equipment outright. Keep up the Great Work! I enjoy your videos every week. Especially when we are frozen inside up here in Minnesota! Thanks!!!
Cole you are a very intelligent 22 year old man, and you are a great asset to your family farm, always trying to better everything and be more efficient , WOW that is a lot of work and worry for such a young man to handle along with all the farm work and You Tube work and school as well. I for one am very proud of you and very impressed. Remember to take a little time for your self to enjoy life while you are still young and healthy enough to do so. God Bless you and your family, THANKS from a old farm boy
“Some farmers are really bad at marketing”
* shows picture of dad *
Its even funnier now that you pointed it out
Lmaoo
Nearly 50 years ago I took a basic Economics class in high school One of the enduring things I remember was "the family farms don't make money" It was true then and in the past and now and in the future.
I just want to say I've been in business, worked with businesses, wrote software for businesses, etc., for about 50 years now. I know how different industries work and always found them interesting. I live in Iowa also, and in fact lived for 17 years in one of the towns you drove through after the Derecho. My brother had farmed for a number of years, and I had an uncle that farmed. I also worked on a pig farm in the late 70's. With all of that, what you taught me in this video is far more than I ever knew about farming and the business of farming. I want to thank you for that. And thank you and your father and all of your family for working the ground. I appreciate all of the information you gave. I felt you were honest, and I know you gave out a lot of information. I haven't watched your wrecked farm video, but will soon. I pray for your and your family. Thank you!
Cole voted "Most Likely to Succeed in TH-cam and Farming".
Way to go Cole! You are proving them right!
The knowledge that y'all have on such a variety of things (farming, finances, mechanics ect) is just astounding...... I really enjoy your videos.
Farming is among the most expensive hobbies. As one who eats, I appreciate your hard work and patriotism.
You remind me so much of Leonardo DiCaprio!! Well, as his character Arnie in, "What's Eating Gilbert Grape"! Only 1 difference...
You're a genius!! I truly love the enthusiasm you put into your videos!! Great editing, too!! I first saw your video on fixing up your grandfather's beautiful farmhouse & now I can't stop! I don't even HAVE a farm! It is so refreshing to see a young man like you, so devoted to his family business & making it fun! Your mom must be an amazing woman, that must be so proud of you!! I see you must get your sense of humor from your dad! 😁 Keep it up, man!! Be safe out there! 🌽🌽🌽
🚜🚜
Bwhahahahaha in my Snoopy howl.
I told Cole this a few times and provide links to video on how he is Arnie and he's ignored it!
@John Chrysostom I don't watch TV
@@anastyb I think he gave my comment a ❤
Cole, this video has just took the top spot as far as farming education videos. At least in my view. You explained just about everything without blank spots that seem to happen in others videos when they try to explain farming economics. Thank you!!
Prayers for all the farmers out there. We appreciate your hard work and are grateful for all of your efforts to put the best food you possibly can on our tables. Good job for taking what was in your family and increasing the value with your hard work and effort! Praying for a prosperous 2020 and future on your farm!
great video. so my family came from iowa and adams county Minnesota farming. im the grandson in Pennsylvania and honestly feel your pain. cant imagine 1200 acres. i have a few family members in osage iowa with under 10 acres. i know sometimes it feels like a loosing battle but it does get better, part of me wishes i was there with you. stay strong brother
You can find farming vids all over TH-cam. It’s ur character, spirit and the family behind you that tunes us viewers to you. You are an awesome young man with an awesome family. Keep it up
I'm a city man, I couldn't tell you the first thing about farming. But this video was so informational and so in depth that you just can't help but to pay respects for that type of hard work. Thank You!
At the 18 minute mark I realized my dream of switching careers to be a farmer went up in smoke.
Learn about market gardens, lower inputs, higher prices to sell at
Check out Richard Perkins, smartest farmer in the world. Joel Salatin and Ben Hartman great sources as well
Chris Topher I’m a farmer from Morocco. End we got the same problem it’s just the coolest lifestyle of farming that keep us in the business
Just like how my weed goes up in smoke too, maybe weed farming might be ideal.
Sell cows
I'm a city slicker from the northeast, and I have no intention of ever running a farm but this was extremely entertaining and insightful, amazing
Imagine a young buck wanting to start a farm, without getting things passed down to you, pretty well impossible
Reveal The Pain if I ever won big money that’s the first thing I would do, I’m 18 and my dream job is to be a farmer
Your right, these days the price of tillable land is very high and it would be impossible for most of us to even get a loan to start with no more then 10 acres on good credit. My dad owns a 22 acre small farm but he's been wanting to upgrade close to 100 but I think over the 40 some years of saving money from working at the factory and what he was pulling from the farm I'm not sure he will ever be able to upgrade because over the years land just keeps going up.
Fastest way to go broke there is, other than a casino
The price of land has gotten to be unrealistically high. The price of farmland used to be reasonable in terms of return on investment. Something happened and pushed the price sky high. Even with high rents and a 5% cap rate the best farmland isn't worth over $4000 an acre. You are right that unless you inherit it like Cole, there is no way you could ever buy in.
You can't even find ground to buy even at a premium. Then finding a bank to loan you a million or two to get started? Impossible.
As soon as this dropped below 40k Income I thought “I see where this is going”
My dad and grandad were farmers, I’m 66y/o, back in the day when times got tough they got jobs at a lumber yard and factory. Today’s farmers meet up at the local coffee shop or bar and discuss what farm subsidies and tax exemptions they think they are ENTITLED to
They're paying 10 times as much in taxes. They should expect the government to pay to keep the ag industry afloat.
@@doctorbatman8520 ten times as much ? Wheres your proof genius?
@@doctorbatman8520 maybe your a farmer that burns dyed red tax exempt diesel in your new hundred thousand dollar pickup
You are like me back when we was younger the farmers had a old beat-up truck, now days farmers drive a $30,000 double cab truck
@@doctorbatman8520 In FLorida if a farmer has 10 cows they do not pay property taxes
You're very freaking smart. I run a small business and you just upscaled everything for me a lot. I love your work ethic so much and your faith to God. God bless you brother!
I could do with a lot less god, to be honest.
Then don’t watch the channel Eons Infinity then you won’t get any. It’s Cole’s channel and he can put whatever content he wants on it.