A Letter From The CEO

A Letter From The CEO

Greetings,

Momentum is a funny thing. When you have it, everything around you seems to be moving in unison. However, when you do not have it, the weight of the world can feel like it is on your shoulders.

Reflecting on the past few years, it seemed like the agriculture industry was starting to build some momentum in the right direction. Farm profitability has increased. Commodity prices are near all-time highs. Land values are rising alongside improved commodity prices. Each of these examples would normally give farmers and ranchers a sense of positive momentum, but roadblocks have popped up to slow our momentum.

Fertilizer prices have skyrocketed. Even before the Russian-Ukrainian conflict began, prices were rising rapidly. Fuel costs have also been moving higher. The average price for diesel fuel has more than doubled since late 2020. High commodity prices for corn and soybeans are great for crop farmers but very challenging for livestock operations. The cost of feed is eating away at existing profitability from strong consumer demand for animal proteins. The Federal Reserve has begun raising interest rates to try and tame inflation, which is higher than we have seen in nearly 40 years. We have not even mentioned the delayed planting season across much of our territory due to poor weather or the return of avian influenza.

Facing all the ups and downs of farming and ranching can be tiresome. Thankfully, resources exist to help provide support. AgCountry Farm Credit Services always stands as a financial resource to you and your farming operation. If you are ever unsure about a decision, please do not hesitate to contact your local office. We have specialists who excel in many aspects of the business who can analyze your situation and help you make sound decisions. Now, more than ever, it is important to have a financial services provider that is committed to the long-term success of its customers.

There is little doubt that farming and ranching can be stressful. Sometimes, we just need to talk to someone. To assist on this front, AgCountry customers can access the LifeWorks Assistance Program free of charge. LifeWorks can confidentially support you with almost any issue, whether related to health, family, money, work, or anything in between. Please visit AgCountry.com for more information on the LifeWorks Assistance Program.

Your well-being is important to us. Being memberowned means looking out for those that we serve. Again, please feel free to contact us at any time. May you have a safe and successful growing season!

Sincerely,

Marc Knisely, CEO