How Much I Made Farming from Scratch (1st Year)

In this video I answer the most asked question I got this year. I show my annual land cost on year 1 and total input cost towards raising the crop. Combining the cost of Land and Input we were $56,000 in the hole. Revenue from the corn came to $40,400. According to my calculations we lost about $16,000 this year. This being my first year farming, it should only get more efficient from here on out.
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Checkout the full video on my channel for more details!
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Edited By: Cameron Wade
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how much i made farming from scratch 1st year
#farming #harvest #agriculture #corn #shorts

[spencerhilbert]

For those who are finding the numbers confusing, I will explain: All costs are what I had to pay out of pocket in year 1. For example, the land cost is a combination of (Principle payment, interest, and property tax) which totals 25k out of pocket year 1 for land cost. (Purchase price is 400k or 9k per tillable acre) Put a 10% downpayment.

Next are the input costs: That's everything else from crop insurance, equipment, and corn inputs to everything else in between. Most of the equipment I am borrowing and that rate is calculated at the 2023 custom cost of hiring out the work. For example, custom combining is $42 an acre so that comes to $1800 in my situation.

I know most people understand all this, but I have gotten many comments asking how I bought 50 acres for a total of $25k. So thought I would just help answer those questions in one comment. I am not complaining whatsoever and I am quite happy with the yields I got this year! Many have asked if I have gotten any government subsidies, and I have not gotten any nor am I asking to get subsidies.

Everyone has their own opinions on government subsidies. Nowhere am I an expert in any of this and they are all just my opinions which can change over time. For those who want more detail, I have a 15-minute video breaking every cost down in more detail on the channel. Hopefully, this helps answer those questions.

[akarsky]

Hang in there, when i started farming i was young and broke, but through years of hard work and determination, i am no longer young.

[the_jamers]

My grandfather has a saying. If you wanna make a million with farming you gotta start with 2 million

[Lemonjello]

“If I won the lottery I could farm for 10 more years”

[anthonygarrett]

Farmers buy everything at retail and sell everything at wholesale.

[tjbellah]

“Behind every successful rancher is a wife with a job in town.”

[danielcourtright]

One of our coworkers won the lottery and when they asked him what he was going to do with the money he told them he was going to farm until it was all gone.

[waldo]

Dude losing 16 K on year 1 when you had to purchase all the overhead is technically winning. God bless you brother 🎉 hard work pays off

[emilior]

You can increase corn yield by planting red silk beans in between corn rows.

And dont forget about the Tri-field system to let the soil rest!

[jacedoran]

Man these new farming simulator graphics looking nice

[TC-lbgl]

The trick to most farming is he will have the land paid off and the idea is once the land paid off he would have made money. But really what he'll do once that lands paid off is by more land

[Schwarzie]

Bro actually went through it in a short and told us how to find out more. Finally someone using these shorts right

[Shri_Om]

Farmers are backbone of world ...they feed everyone ....my wishes for a profitable year ahead

[oldironfarms]

Farming is one of those businesses were someone else sets the price of your products. You just have to love it because it can be fairly difficult to make money year after year .

[vahjayjayaddict]

I met the wife of a local rancher with a big spread in MBA school. Everyone thought they were rich, they werent. She said "If we liked gambling we would move to Las Vegas. " She was training to get a REAL job so they could keep ranching. The margins are often very thin in agriculture until the land is paid off & lien free.

[liammorris]

Holy shit that’s really cheap starting costs to be fair, hope this ends up a success for you man it’s amazing to see people who weren’t born into it starting up.

[ipodtouch]

It’s crazy to see this in the US. My family being from Mexico if you farm their competently you have pretty much guaranteed generational wealth

[farmingwithbron]

An old man told me something when I started farming. He said “son, don’t keep too sharp of a pencil or you’ll figure out that you never make any money”. It’s held true to this day but I love it and it’s the only thing that keeps me from going insane

[Mattymu]

Makes sense now! Shared equipment is key for new farmers. People help each other in the farming world and that's a great thing

[ArrinBaker]

I watch your farming videos while playing farming, simulator 19 you and Grant are the best