Do you have an adequate line of credit? If you are paying inputs out of pocket and you had a total failure, then the next year you could farm using your available credit. And in the meantime you pay next to nothing or zero interest on the available credit depending on your terms and how much you draw out at a time. Most guys have to farm that way anyway. Plus a 50% yield crop (gasp!) would come close to paying 70% of your raw inputs anyway unless you"re paying real high cash rent. I hate to see you give away the first $30/acre profit. But if you go that way remember that the $30 is to be saved back in case you need it, not spent elsewhere. Also, the FSA subsidizes an advantage for everyone else if you don"t take the direct payment. I don"t believe in it myself, but the local BIG young farmers are taking it and they figure it into their cash rent, so I"d be at a $25/acre competitive disadvantage if I declined it.
This is the advice I"ve gotten from an older trusted mentor, I"m no expert myself.
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