How much did owning a GSI grain bin cost me in a BEAR MARKET? You might be SUIRPRISED!

Рет қаралды 27,195

10 ай бұрын

It has been 365 days of owning a grain bin that I purchased last year so it is time to to dive into what it looks like from the financial side of things. Did owing the grain bin cost me money or make me money.
Learn more about GSI at www.grainsystems.com and you can view this projects previous videos to see how things have been coming along!
#GSIPartner
iowANFarmer, Ben Van Roekel, is a 2nd generation farmer in southern Iowa. His goal on KZfaq is to showcase what young farmers have to offer to the agricultural community. He hopes to give the general public a glimpse into what life is like on an American corn, soybean, and hay operation. The channel will focus on farming equipment, repairs, precision ag, and daily operations on the farm. Join him in his daily trials and tribulations in the changing agricultural environment.
iowANFarmer
PO BOX 58
Plano, IA, 52581
Email: iowanfarmer52581@gmail.com

Пікірлер: 102

@grahamtyers9207 10 ай бұрын

Please keep everything on here.Molly and you have worked so hard in getting to where you are now with both the pumpkin patch and the farm.ignore the ones who say pumpkin patch should not be on here they are wrong it’s all apart of your farm.keep to one channel please

@dennisplace2641 10 ай бұрын

Yap, what he said, tell the Fools this is the farm.Go Pumpkin Patch....

@timalbrecht4408 10 ай бұрын

I also agree. This is who you are and what you do!!!!!!!! Isn’t that why you started this Chanel? To show what YOU do.

@90bobhop 10 ай бұрын

Keep it to one channel please

@waynejones5239 10 ай бұрын

Where do they think all the pumpkins in the store pumpkin farms

@mikeross5927 10 ай бұрын

Heck I liked the pumpkin patch videos, Hope yall have a safe harvest.

@duanebolen543 10 ай бұрын

I thought you're punkin patch was very interesting and I think I've got to see most of the videos. So when these days, I'm gonna have to get over there and see it in person.

@mikemeng3547 10 ай бұрын

I loved watching the pumpkin patch videos

@davidgrefrath6629 10 ай бұрын

More people should watch your pumpkin videos.. great way to diversify ... Thank you

@jeremiahchmielowiec2696 10 ай бұрын

Keep the pumpkin patch videos it is your channel and it is part of your day to day now.

@fairlaner69 10 ай бұрын

Non farmers who are surrounded by farms in eastern IA but we really enjoy the videos, INCLUDING the pumpkin vids. And Bandit!

@iowANFarmer 10 ай бұрын

They will still be around! Just on a different channel and a different editing style!

@greghersberger7237 9 ай бұрын

I like the patch videos. Keep all on 1

@carolspronk8401 10 ай бұрын

I like the pumpkin patch

@Rondewie 9 ай бұрын

I like seeing the pumpkin patch stuff here! ❤️

@mtener01 10 ай бұрын

Ben My family enjoys your channel. All of the videos are interesting. Keep em coming. Thanks

@rgendrud8695 10 ай бұрын

glad to see you back

@burtzorn4059 10 ай бұрын

You do whats best for your channel. I like it all on here. The patch is part of your farm

@iowANFarmer 10 ай бұрын

Thanks 👍

@robwar2288 10 ай бұрын

I Farm 4,000 ac and very much enjoy the Pumpkin Patch Videos! I’m very proud of you 2 but don’t know you! Lol

@DoubleD. 10 ай бұрын

I thoroughly enjoy the pumpkin patch videos too. I did not see the vision you two had but boy did that change over time and during your videos. Excellent. I liked the explanation about the cost of bins and the storage of corn to benefit your bottom line. Thanks a bunch.

@sleepythinker5674 10 ай бұрын

Thanks for the explanation. Have a safe and bountiful harvest! Pumpkin patch videos were fine. They are a part of your farm. Always good to see blue dog.

@brokeassgardener9781 10 ай бұрын

Keep growing those pumpkins

@KevinBiltz 10 ай бұрын

Enjoy hearing about the pumpkin patch. It’s all farming. The pumpkin patch is a lot of physical labor. Missed your video’s.thanks

@margie6534 10 ай бұрын

Bullshite! I'd love to see your pumpkin patch videos on this channel. You and Molly are a team so it only seems appropriate. Just my opinion.

@LtColDaddy71 9 ай бұрын

Our “not real farming” endeavors took us from working 550 acres, all the way to getting over 11,900 acres this year, all within 23 years, and a debt load that’s 11% of valuation. Let them talk all they want, be humble, and keep your head up.

@FarmandSpeed 10 ай бұрын

With your grain analysis don't forget you have the ability to dry your grain so you are not losing money, getting docked if you had to haul right from the field.

@johnmedlin5894 10 ай бұрын

I enjoy all your videos! Keep doing what you're doing Ben!

@kdove2110 10 ай бұрын

Perforated is the one with the slits 😂 Love the education I get here! 😮

@davidkimmel4216 9 ай бұрын

Nice explanation.

@user-mk8fj5xx5q 9 ай бұрын

{while Ben is digggin/clearin the trench for the drain pipe Bandit is watchin this an thinkin} "Hoomun, how long have you known me? If ya needed diggin done all ya had ta do was say so! I'd have gladly dug that out for the nominal fee of a beddyrub and a handful of treats..." Everyone needs a Blueheeler!

@chadmullen3032 10 ай бұрын

Here for the pumpkins

@385cat9 10 ай бұрын

Great job Ben! I love how you look at the numbers. That is the same way I do it.

@raykrv6a 10 ай бұрын

Not a farmer, but enjoy the heck out of your videos. Lot of good content. Was curious to see how the pumpkin patch was doing. You guys got a lot done in a short amount of time. Well done.

@randycharest4507 10 ай бұрын

Enjoyed watching the video Ben 😊

@valwalker8846 10 ай бұрын

Hey Chief, you lost me at the Post Office. I'm not good at following numers. Good Job, I thiink. The rest of the movie wonderful

@jamespetty9545 10 ай бұрын

Yes sir been. I love videos like this where you farmers talk about $$$ Gives you a new spectrum on big nice equipment in the field. I often wonder how much stuff like this costs. 👍👍👍

@timalbrecht4408 10 ай бұрын

Hope the Pumpkin patch is going good! We started selling sept 2nd. And sold out last weekend. All were planted by seed, picked and sold by my family of 4. Had 12 pallets completely full 3-4 high. Was a great year for us here in Waverly!!

@kemv 10 ай бұрын

I really enjoy your videos and what you and Molly have accomplished! All of what you do is REAL farming. I don’t recall seeing y’all in an office with your feet up on a desk! Haters got to hate but, the rest of us think a lot of what y’all do! Keep up the good work and keep making your videos!

@williamscore5322 10 ай бұрын

Really good video, love the number breakdowns, thank you.

@iowANFarmer 10 ай бұрын

Glad it was helpful!

@thebeardedbro 9 ай бұрын

You’ve inspired me to try and become a first generation farmer. Thank you for the amazing content. Please keep the pumpkin patch stuff as well, thoroughly enjoy watching it

@lfeco 10 ай бұрын

Unsold grain in a bin is speculating. Really should have some sold to capture the carry but I'm like you, it's nice to have some unpriced until you see what the next crop is going to be. Like you said be a good marketer but of course there's a lot of luck involved with that. One nice thing about a bin is that it's open 24/7.

@jamesbreault5762 10 ай бұрын

Good stuff Ben

@jamieshields9521 10 ай бұрын

Talk about punching numbers, given silo or mother bin especially upgrade of combine n unpredictable weather there’s so many factors n market prices. For me everything I invested needs to be saving time in handling the crop, like going from CaseIH 2188 to CaseIH redtop 8010 we needed another semi truck to keep up. These last few years getting crop off pay big time then up n down price of the crop. This year harvest for us we are hoping steady prices, no late frost damage with avg yields unlike other parts of Australia that poor yields due drought conditions.

@davidrose8186 10 ай бұрын

I was worried about you, hadn't seen a video in awhile! I usually watch on TV so can't comment. On PC tonight, glad to see you again. Keep the pumpkin patch and Molly"s business on this channel !!!!!!

@w056007568 9 ай бұрын

Diversification to some extent of the main farm business is for many farms and farmers here in the UK an absolute lifeline to allow the main farm to continue in business for the time being - in other words it is vital! Dan.

@jeffcridland4120 10 ай бұрын

Ben, wondering if you could discuss the marketing affect of year end on business decisions of a farmer. I’m Canadian so I’m unfamiliar with inventory taxation, cash accounting or yearly net income in your state and country. Enjoyed the update. Good luck with harvest and be safe.

@jimmycampbell3254 9 ай бұрын

We grow pumpkins every year. We have one store that buys all of them every year

@megagrizwald 10 ай бұрын

love your Pumpkin patch video's!

@385cat9 10 ай бұрын

I have no problem with the pumpkin patch stuff on here. It's farming as well. I love the content.

@sixtoes2313 10 ай бұрын

Molly/Ben. " I " think All of your Video's are worth watching. It s Real ! ...Not the Junk thats on TV.

@iowANFarmer 10 ай бұрын

Thank you!

@brandonm6052 10 ай бұрын

I’m commenting this only 25% of the way through the video so you may cover some of this: I have an owner I manage for. She directs all her grain sales. All of her 2022 crop is in storage still in town. 4.17.2023 she made a sale to clean up 2021 crop and local price was $6.96, as of yesterday 10.2.2023 she had accrued roughly $0.60 in storage as well as a market loss of $2.22. Her storing bushels since April has cost $2.82 bushel. The last few years have presented some better opportunity to sell grain at harvest over storing, that’s not normal compared to the long term trend.

@Peter89133 10 ай бұрын

You are combining apples and oranges. The capital cost for the bin is ~$102K. That is how long you have to pay off the loan you took to build it. But the useful life of the bin is probably 20+ years for tax purposes and maybe 30+ years if you take care of it. Thus, the cost per bushel for the capital expenditure for the bin is 30 years times 18500 bushels divided into $102 K or a little under $0.184 per bushel capital costs not $0.58. Which makes your plan even more brilliant.

@randybedker1584 10 ай бұрын

Let us know where the pumpkin patch videos are going to be.

@michaelstark703 10 ай бұрын

Never going to make everyone happy, just be Ben and Molly, that’s what got you here. Peace 🚜🚜👨‍🌾👨‍🌾🎃🎃🇺🇸🇺🇸

@chrissyfrancis8952 10 ай бұрын

Hubby & I LOVE the pumpkin patch vids!! 2 newlyweds open a SECOND business within the first year. A business that brings the community together, highlights Ag & is farming something BESIDES corn, beans, wheat, hay, cotton & peanuts(we watch a lot of farmers) for a change! No one’s FORCING ppl to watch! If they don’t like it-screw them!! Boy that pissed me off. Don’t let ppl tell you how to run your channel!

@iowANFarmer 10 ай бұрын

The videos for the patch won’t go anywhere, they will just be on a different channel giving us the chance to edit them differently and post more frequently

@chrissyfrancis8952 10 ай бұрын

@@iowANFarmer well, I’ll be watching both channels! I’m so proud of you 2! Hoping you have enormous success(& I want to see it all!) I’ll prob never be able to make a trip from PA to Iowa, but if I could, I’d be at the patch!

@bcooper7352 9 ай бұрын

Unless i missed it, what would it have cost if you hauled it to town and had them store it until it was sold. That would be part of the savings of your own bins.

@Daveco82 10 ай бұрын

nice video! no white boards in the southern ia?

@keithpeterson499 10 ай бұрын

that sump unclogger you put on one of the bins have you had to use it? havent seen a vid on it or i missed the vid just wondering

@Ed_in_Md 10 ай бұрын

Keep the pumpkin patch videos on this channel. It’s all part of your farm and your family!

@joeymortenson5827 10 ай бұрын

Farming is farming no matter what it is your doing.

@e.h.benner9124 10 ай бұрын

Im not a farmer, but it really interests me. How do you find a market to sell that is on a larger scale, like not farmers markets or you picks. Do you find buyers or do they find you?

@ernestdarnell7473 10 ай бұрын

you forgot to mention that you depriceat that cost out and the bin winds up being free

@ninjanana1272 10 ай бұрын

👍👍❤

@scottlaflam1511 10 ай бұрын

ben you will alway now have the storage ,prices today , next year last year that the game ,you will have storage for ever...

@joeymortenson5827 10 ай бұрын

Was there a basis figured in

@beeffarmer8576 10 ай бұрын

I’m also a fan of the pumpkin patch videos. Maybe some footage of colt breaking horses too!

@iowANFarmer 10 ай бұрын

Noted!

@beeffarmer8576 10 ай бұрын

I could tell right from the start that ol’ colt was a cowboy. 🤠🤙

@cliffordarnoldussen 10 ай бұрын

Well, I’m glad to see you back. I like your videos you were talking about the Benz now is that corn had to be dried or no because you didn’t say nothing about drying

@jerry-fu7yb 10 ай бұрын

Hope all that ramble made sense to you all I got from it was a headache🤮🤮. Oh well see ya next time 🇨🇦🇨🇦.

@iowANFarmer 10 ай бұрын

Me too

@ShannonSmith-ss1bd 10 ай бұрын

Why did’nt you put the vertical auger race on the GSI bin up about another foot above the door of the grain bin then you would never hit your head on it.

@southwestiowacattlefeeding6720 10 ай бұрын

Hey what are your hours for the pumpkin patch? I would like to bring our granddaughter over to see it. Do you have a place for us old farts to set at? I have a very bad back problem and can't walk very far. Thanks

@dannhowell1851 9 ай бұрын

Where can I get a pumpkin patch jacket ?

@billupstateny9151 10 ай бұрын

🗽🇺🇸🚜👌💯

@ChevyRob313 7 ай бұрын

Sounds like a fuel filter or fuel pump

@MB93WP 10 ай бұрын

I vote to leave the pumpkin patch on this channel it’s part of farm your only going to have a couple of months on the pumpkin patch on a different channel

@jamesbreault5762 10 ай бұрын

So if you got 6.87 per bushels and your cost for storage is .78 per means you netted 6.00plus dok LlRs per ??

@iowANFarmer 10 ай бұрын

It sure what you mean.

@bitcornfarmer6868 9 ай бұрын

How do you figure it paid to bin when the price at harvest was higher than the 6.00 you mentioned?

@bitcornfarmer6868 9 ай бұрын

In November at harvest is was 6.87, so then you need to add your 70+ on top of that correct?

@chucklesx 9 ай бұрын

@@bitcornfarmer6868... No, if he sold the crop off the truck to the mill at harvest he would have gotten 6.00$ per bushel. He put it in bin and got 6.88$ per bushel minus the 78 cents his storage cost him. So he gained 10 cent per bushel, not a great profit but he also gained the benefit of being more efficient during harvest and his costing is based on the bin being paid for over 10 years, so once it is paid for he has storage for very little money per bushel going forward. :)

@bitcornfarmer6868 9 ай бұрын

@@chucklesx I do believe he said the $6 was the November price in July . If he had waited until actual harvest in November and sold them then he said they went up to $6.87

@chucklesx 9 ай бұрын

@@bitcornfarmer6868... He talked about being up 5 cents at 6.87 after his 78 cent charge so to me that means selling it out of the bin not out of the field at harvest. That said without seeing the numbers I may have taken him up incorrectly.