Loss Loans News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Farm and the pacific rim countries, they like high-protein wheat, and that's what we raise here. so being the market is low, ever since last year at harvest this time, i sold wheat for $5.70. the market today is $5.82. there used to be up to $1 bonus on protein from 12 protein to 17, there would be a $1 spread. right now there's 5 cents. so we raise a lot of high-protein weeheat, so we're taking about a $2 hit from last year, $2 to $3 hit. and we're about $70 to $75 an acre we're losing by harvesting a little bit above average crop right now. >> so how do you keep going? >> well, older guys li...

Half their 401(k) is what they're asking farmers to do, taking all our markets away from us. it's no different, you know. we build up our equity. we own a lot of land, but we're kind of cash poor. and they -- they put the hit on us here, and the young farmers don't have that equity to fall back on and do loss loans like a lot of people are going to have to do. >> i'm using the words you said, what about you old guys? but how long can you hold out if things continue to go the way they're going? >> well, you're almost kicking yourself in the rear-end for not getting out two years ago. some guys ...

Us here, and the young farmers don't have that equity to fall back on and do loss loans like a lot of people are going to have to do. >> i'm using the words you said, what about you old guys? but how long can you hold out if things continue to go the way they're going? >> well, you're almost kicking yourself in the rear-end for not getting out two years ago. some guys did, and we thought they were crazy. it looks like it was a good move. you're going to get to the point where no one's going to buy any machinery or anything, so what good is it going to do to sell out? it's -- i -- there's got t...