New Guide Offers Smart Tips for Buying Farm Inputs

By Andi Anderson

Farmers often wonder whether they should buy farm inputs now or wait for a better price. This decision can be challenging due to changing markets, supply chain issues, and global uncertainties.

Historically, farms that purchase inputs early tend to reduce total input costs. However, making the right choice requires careful planning and a strategic approach.

Every farming year begins with a crop plan. These plans include decisions about which crops to grow, expected yields, nutrient requirements, and pest control measures.

Although crop planning is a familiar process, it also plays a key role in helping farmers manage cash flow and maximize available working capital or loan funds. Efficient use of cash throughout the year is essential for successful farm management.

To help farmers with these decisions, the DEMaND Series has released Bulletin E-3508: Strategies for Purchasing Farm Inputs. This resource provides valuable insights into strategic purchasing, such as understanding market trends, recognizing farm needs, and making the most of available cash. The bulletin also advises on prioritizing which products to buy and when to make purchases.

One of the key tools introduced is the input purchasing plan. This plan adapts your crop plan into a smart buying strategy aimed at securing products at affordable prices.

Much like grain marketing, it encourages farmers to be proactive and intentional with purchasing decisions instead of reacting to market changes.

Farmers can access this free bulletin by visiting the DEMaND Series website. The website also features a variety of helpful resources, including articles, webinars, and recordings designed to strengthen business and financial management skills.

The DEMaND Series—short for Developing and Educating Managers and New Decision-makers—is designed to assist new farm managers, future successors, and beginning farmers. It helps them build the skills needed to manage today’s complex farm business operations confidently.

Whether you are new to farming or stepping into a management role, the DEMaND Series offers tools to help you make smarter financial decisions for your farm’s success.

Photo Credit: istock-dusanpetkovic