Yield is very vital to profit and there are areas that 150 bushel per acre yield of corn is still very good. Not everyplace has the potential for 225 bushels of corn per acre. So corn dropping to 5 dollars per bushel or lower locally could jeopardize profits especially if record high prices are paid on rent. We could still have a 1980's type financial squeeze in a few years though the circumstances may be different. Yes, the debt is not there like back in the 1970's but profits could be squeezed to the point where property taxes would extremely difficult to keep paid and selling equipment off may be needed to meet household expenses. What went up in terms of equity due to the land boom could come back down affecting ability to borrow operating money.
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Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
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