Coffman Farm Agency offers professional farm management services for a variety of clients. Many of our clients are individuals, but we also serve trusts, estates, corporations and partnerships that own land. Today’s agriculture is an increasingly complicated business. Production practices constantly change with new technology. Commodity markets are extremely volatile. Government programs present a myriad of rules, regulations and requirements to obtain the benefits. Profit margins are narrow and cost control is crucial. Now more than ever, success in agriculture requires a wide-ranging knowledge of these issues. We work in these areas every day and have the experience and expertise to help you realize your goals of farm ownership. We currently manage over 30,000 acres of land in Iowa, Nebraska, South Dakota, and Minnesota. Our clients are located throughout the United States as well as abroad.
Coffman Farm Agency provides a complete management program to help maximize the return from your land. Our management activities include:
Analysis and recommended method of operation
Our farm management services begin with a complete analysis of the farm and preparation of a plan for future operation. This report addresses your goals and objectives of farm ownership and how they can best be achieved. We evaluate various methods of operation (i.e. crop share rent, cash rent, guaranteed bushel lease, or custom farming) and recommend the method that is consistent with your goals and objectives. The report also discusses recommended crop rotations, fertility, seed and pest control programs, and possible improvements.
Crop production planning
When the client has an interest in the crop production, a plan is formulated each fall and winter for the next crop year. This includes the acreage of each crop, seed varieties to be used, soil fertility programs, and weed and pest control programs. It also includes a budget for the coming year. The plans are made jointly with the farm operator and provided to you for review and approval. For cash rented farms, we review and approve the operator’s plans to make sure they are appropriate and will maintain or enhance the productive capacity of the farm.
Analyze government programs
We stay abreast of changes in USDA farm programs and complete the paperwork required to participate in these programs. We also monitor legislation that affects farming and correspond with legislators.
Conduct regular farm inspections and provide written reports
During the growing season, we make periodic farm inspections and consultations with the farm operator to ensure that plans are implemented correctly and in a timely manner. We check plant populations, crop development, weed and pest control, and any improvement projects that are in progress. We provide regular reports of these conditions to you and advise of any necessary changes in plans.
Complete accounting of income and expense
Our accounting function includes collection of farm income, payment of farm expenses, and complete reporting of all financial activity. We provide quarterly reports of receipts and disbursements and an annual income statement. Funds being held for future expenses can be invested in a money market savings account. We take advantage of volume and cash discounts and can obtain dealer prices for many items.
Marketing of farm products
We constantly monitor and analyze the grain markets. We can utilize cash sales, cash forward contracts, basis contracts, options, and futures hedges to take advantage of profitable selling opportunities.
Negotiation of lease terms
Each year we review lease terms and make recommendations for any changes prior to the legal termination date. We assist in selection of the farm operator when necessary and conduct all negotiations. All leases or custom farming agreements with the farm operator are in writing, and all operating arrangements are subject to your approval.
Peace of mind
Perhaps the most valuable service we offer is peace of mind for our clients. Knowing that your property is in the hands of experienced professionals is an invaluable asset.