How Much Money Do Farmers Make?
How Much Money Do Farmers Make?
This is the first video of its kind. Finances in farming is often a subject many are not willing to talk about. In this video, I shine a light on all of our expenses for our 1,700 acre farm in Central Iowa. I cover every aspect of income and expenses and produce actual numbers.
The goal of this video is to raise awareness and to educate. It is not designed as a pity video, so please, do not feel bad for us. The information is as personal as it gets and this video took me a long time to create.
Sources:
Yields and Prices
https://www.extension.iastate.edu/agdm/wholefarm/pdf/c2-10.pdf
https://www.extension.iastate.edu/agdm/crops/pdf/a2-11.pdf
https://www.extension.iastate.edu/agdm/crops/pdf/a1-13.pdf
https://www.extension.iastate.edu/agdm/crops/pdf/a1-14.pdf
Quick and dirty tax calculator:
https://smartasset.com/taxes/iowa-tax-calculator#xxyHMrF5bG
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Cole The Cornstar, aka Cole, is a 4th generation family farmer from Central Iowa who is the life force behind his family’s 1,700 acre farm. Cole promotes agriculture by filming his day-to-day adventures with his Dad (Daddy Cornstar) and brother (Cooper) on the farm. With a lot of help from Daddy Cornstar, Cole instills humor and education into his videos fit for both young adults and adults. Despite being 22-years old, Cole has an old-fashion work ethic with an innovative approach toward agricultural technology and practices. Cole’s mission is to prove the American Dream is not dead and be a megaphone for agricultural education and innovation, from technological advances in farming equipment to conservation practices.
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I think this must be one of the best youtube videos that I have viewed. Well done, young man!
WOW!
Born with a silver credit card in your mouth.
he is so 🥰 cute
At first i thought that 1 m income is good and had no idea how a farm could spend that in one year … well damn respect to you that you are still running
Excellent video ! However……could have cut it much shorter. Its how much you spend compared to how much you make. Ive been farming for 47 years. I know about farming ! But I did notice that " ISU " shirt … often meaning too much education ! Farmers spend more time on the road running then they do farming ! What to expect for income ????
I bought a farm … paid for it in 7 years…. 160 acres…… milked 50 cows. Married to the cows ! In my 45 yrs milking cows…..I missed 10 days not being in the barn….. only due to surgery. Most farmers now days are not dedicated to their profession ……thats the bottom line !
After listening to this video and knowing your one of the folks that’s personally responsible for my
stomach not touching my backbone, farmers that produce food should be exempt or atleast get significantly lower land tax’s to help with running expenses. Wow god bless ya bro !
The oil age is what made this type of farming possible, but peak oil happened in the late 1960s and now that the fiat USD and the grand credit cycle is over, so is the oil age. Time to reinvent farming, permaculture is the only way.
Just wondering if the wind towers are on your land and what kind of payments are recieved. I grew up on a farm & still is farmed by my brother. It is alot of work! Love that you are explaining it to people.
if this is true you better go work in McDonald’s u will have more money ! but this is. not Truthful net pro is minimum 250k + otherwise who crazy will work 24/7 whole year to be in – I’m sure that he lied or hidden 40% 60% may be truth
This was pretty interesting to watch and very informative…makes one wonder what the story is of other farms and what percentage of them are really that profitable.When other fields of work pay far more and require far less work and capital investment….Sheesh I don’t see why anyone sane from my generation would do it lol .
when you said God was important to you I subscribed, I have watched around eight of your videos and have liked your energy and intelligent banter.
Finding out that God is at the core of your life is making it easy to like you guys without reservation.
I don’t trust many people and I don’t like click bait, so far your videos are a blessing for me and the viewers I hope.
stay blessed and keep the faith brother.👍🙏
Nice video Cole. From Cole haha
The farmer is the first one to get f***** in America
Sounds like we are heading back to the fuddle system with bank owed farms.
Hello my dear
I worked every summer back in the 1970s for Indiana farmers as a teenager before moving to Ohio. They were some of the hardest working and kindest people I’ve ever met. We are surrounded here in Ohio by farms and we often see the equipment rolling in the springs, summers, and falls. After watching this video I’ve gained a whole new insight and respect for farmers. God bless them all.
Just awesome video young man.
We all can better at what we do.
But nothing we do can is more important than praying, faith, love, and I was just so happy to hear you acknowledge this. Well done great information
I just watched this in 2021 and I loved it very very informative
why is the mfp so low on corn?
Dont like government payments…… make sure you dont need them in the first place. Then continue to farm.
Tldr we are broke as shit
If it cost so much to run a farm whats the point of having a farm
WOW!!! My brother’s in-laws sold 100 tillage acres in Muscatine County, IA. It sold for 1.1 million dollars. The farmer who bought it paid cash!! Not financed!! Farmer subsidies are OUTRAGEOUS!! Look into it, farmers needed a helping hand back in the day, NOT NOW!!
so why become a farmer then it seems like a terrible idea
Long-haul trucker muself: similar (somewhat,) one can appreciate the sheer number of skills needed! Gotta say most people would take 3 vids to your 1! whatever your putting in your cornflakes I want the link to order some for muself/family!
Easy kemosabe your dealing with a company that are outlaws. They are so dangerous several countries in Europe don’t even allow them to do business there. I can imagine your grandfather being told what he can’t do with seed he just payed good money for.
Wow I really enjoy your educational so entertaining video …. Your quite knowledgeable on farm bussines hopefully The Lord keep blessing y’all ……. It seems like a lots going on in the farm bussines…. I enjoy your video
This is the first video I’m seeing from you and I am glad I watched it and got it break down of what it’s like money wise on a farm thank you
I have a lot of friends that are farmers, some small and some very large. I will tell you, those large farms are doing very well. It is actually opposite what you said. Most years are good, with some bad thrown in. With the bad, depending what caused it, insurance will help cover the losses. A couple things you forgot to mention, all those expenses, they are deductable, so you can’t just take that amount out of your earnings, one for one. Also, let’s not forget about that word "depreciation." Yes, equipment is expensive, but you will over time write all that cost off. My guess would be that your example of losing $239,000, you probably netted several hundred thousand in real cash flow.
Outstanding video Cole! Very informative. God Bless.
Fascinating!
I don’t know how I landed here, I don’t know why I stuck around after this sunglasses guy started, and I don’t know why I watched the whole damn thing. But I’m glad I did. This guy knows his business and laid it out perfectly.
Respect!!!! Just for putting it out there.
Are those fruits that make roundup still suing farmers for saving soybeans and not buying all new modifioed seed so as not to get sued over there patent on geneticly modified seed?
Thanks for the detailed video! Luv the content, it’s raw and organized, in other words – organic (lol)! And Amen to praying, young sir! JESUS IS THE ONLY WAY ✝️❤️🙏
Like the young man said ; we don’t do it for the $$ No farms, No food. Good job Cole in educating the general public
Depreciation will reduce that negative somewhat. Still at a negative though. How much? Depends on the depreciation expense that can be deducted.
I don’t have time in my life to learn about farming, but here I am… 🤣
Great video Cole! Thank you for sharing your faith!
Very nice to see someone explain it.
It’s kinda funny, the farmers working hard and doing their best to grow some food for others. They don’t get rich through that.
But then there are some Sports man who just do some sport and get paid millions…or movie actor.😂😂😂
Very informative and educational. I can’t imagine how much more expensive everything is in this economy.
Hello Mrs Clarissa the bitcoin trader is legit and her method works like magic I keep on earning every single week with her new strategy..
Are farmers getting organized to increase production to compensate for Ukraine’s reduced ability to plant this year? A lot of countries (including Ukraine) would be in desperate straits this Fall unless the US steps up.
Wow!
Bravo Young Man.
Oh ya..A high five. A hug and thank you to momma cornstar 👍
Income tax is after interest, expenses and depreciation, not BEFORE.
To deduct income tax BEFORE interest, expenses and depreciation is lying.
But it has always struck me as odd how little the product is worth compared to the resource cost, time cost, and risk.
😂 I rest my Case (case like the tractor) 😂😆😉
What kind of seed y’all use
I love this dude’s energy!