If low interest rates are important to the success of your operation, lock them in now.
That's advice from Michael Swanson, a Wells Fargo ag economist who spoke at the Central Plains Dairy Expo in Sioux Falls.
He says interest rates will likely rise – perhaps in late 2011 or early 2012 as the economy improves.
Another practical tip from Swanson: Aim to be a "scratch marketer."
A scratch marketer is like a scratch golfer – with good fundamentals and lots of practice he or she put together a winning game. Any body can get lucky and hit a hole in one once in their life, he says, but a scratch golfer wins consistently.
Swanson presented a bullish outlook for the farm economy.
Despite growing production in Brazil and other countries, the U.S. remains the world leading food producer.
"They have to come to us," he says.