Starting your own farm is a lifelong dream for people who long to work with the land. As rewarding as farm work can be, it has its own complexities that often take new farmers by surprise, from unpredictable pricing to adverse weather events and crop insurance requirements. The primer below explains what you should know before buying your own agricultural operation.

Helpful Advice for New Farmers

1. Take Advantage of Special Crop Insurance Provisions

The United States Department of Agriculture administers the crop insurance program, protecting farmers across the country from catastrophic losses. To protect those who are new to the industry, they offer Beginner Farmer and Rancher Provisions, including premium subsidies and waived fees, to anyone who hasn’t operated an agricultural business for five years. Your agent will help you understand these provisions and whether you qualify for benefits.

2. Understand Crop Rotation Schedules

Crop rotation is key to promoting healthy soil, which may determine the long-term profitability of your farm. Before your first planting, hire a lab to conduct testing on the soil to determine whether conditions are right for the specific crops you want to grow, understand the deadlines for harvest season, and decide what you will plant next season. Explore past crop reports for popular produce like corn, soybeans, winter wheat, and field peas. 

3. Learn About the Market

In addition to learning about weather patterns, fertilizer, and crop cycles, you’ll also need to understand securities trading and other factors that influence your wholesale prices. Understanding the engines that drive the agricultural market will help guide your investments and get your farm off on the right foot.

For nearly 40 years, Nebraska Crop Insurance Agency Inc. has provided vital coverage to new farmers and seasoned professionals throughout the Beatrice area. They pride themselves on offering fast, friendly customer service and insightful advice born of experience. Visit their website to learn how they’ll help protect your investments or call (402) 223-2694 to request a quote today.