Big Iron, one of the largest farm shows in the country, was held this week in Fargo, ND. There is always a large seminar held for farmers during this show, which covers topics such as market outlook, marketing strategies, updates on the progress of the farm bill, etc. Also included this year was a presentation by a regional farm business management group on projected farm cash flow for 2019. These projections were based on current new crop cash prices for corn, soybeans and wheat in the Red River Valley of the northern Plains. As would be expected with the collapse in those prices, the projections are quite dismal. The table below shows the group’s mid-range yield and land cost estimates.

These production costs are bare returns per...