The young farmer wannabe cannot secure financing to start farming. It's almost as difficult to pass a farm to the next generation. All input costs are way too high. When a used 4wd tractor sells for 250,000 or more, it's impossible to pay for it and everything else with$6/bushel corn. I am part of a family farm that is transitioning to the 4th generation. My generation is sacrificing equity to help make it work.
Where is the system broken? What would make generational farms possible, and make it possible for farmers just starting out?
There is no simple fix that I know of. No lender will front a $2-3 million loan to a young guy wanting to farm. We are allowing the use of our equipment to help our young farmer farm land that he has rented.
Most farmers operating today are actually just working for their banker.
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