The 2010 growing season was fantastic for AdFarm North Dakota shareholders in terms of first-hand, vested experience in crop development, management and marketing. Shareholders and 2011 prospective shareholders learned the results of last year and this year’s plan during a meeting in Fargo last week. Highlights include:
- Corn was the right crop in the right year:
• Excellent growing season
• Right genetics for our land
- Dramatic changes
• In July, China lifted their former policy banning corn imports. In October, the USDA lowered their estimated U.S. corn yield.
• As a result of these two factors and continued strong demand for corn, the corn market continued to move up, and we sold our final corn in February at $6.00/bushel
- Our corn yield was 9,105 bushels
• Yield: 130 bushels/acre
• Avg. selling price: $4.83/bushel
• Breakeven price
– 120 bushel/acre
- Our yield compared favorably:
2010 corn yield bu/acre U.S. average 152.8 N.D. average 132 Griggs County(including irrigation) 135.8 Nelson County(no irrigation) 112.2 N.D. AdFarm 130.1
This was the highest profit ever and the 10th year of the AdFarm N.D. experience
Yes, that translates to a profit of $38/share. Plus the $25/share investment last spring, shareholders received checks for:
1 share at $25 + $38 = $63
2 shares at $50 + $76 = $126
3 shares at $75 + $114 = $189
In the words of AdFarm Fargo’s Jeff Reed, “Last year was amazing for a few reasons. Everything went the way we always would hope it does from the weather to China opening up and importing corn. As a farmer you know that this just doesn’t happen every year, but when it does, it sure feels good. Kudos to Robbie Lukens for using his psychic powers and hard work getting all the corn in a day before we got 4 inches of rain. Now I can’t wait to see 2011 unfold.”
Last year’s marketing committee was guided by Cooperating Farmer Fred Lukens and relied on Weatherplanner for help in crop selection, and Grain Marketing Advisor Mike Krueger of The Money Farm for in-season crop marketing information.
Farmers, how was your 2010 crop? What factors affected your yields and marketing strategies? What’s your 2011 plan? We’d like to hear about it.