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Biotech Labeling, Renewable Energy Directive in Comments on EU Free Trade Agreement

As U.S. Trade Representative Ron Kirk moves to consider ways to improve the nation’s trade relationship with the European Union (EU) as part of the recently formed U.S.-EU High Level Working Group on Jobs and Growth, the American Soybean Association (ASA) submitted formal comments reminding the ambassador that the EU’s heavy-handed policies on biotech soybeans, as well as inaccurate characterization of biodiesel by the Renewable Energy Directive (RED), have contributed to a 70% drop in total soybean export quantity and a 44% decrease in soybean export value to the EU over the last 14 years.

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  • Feb. 10, 2012
    Article

    Tax Tips: Not All Farm Payments Require a 1099

    The Internal Revenue Service has found that taxpayers are more likely to report income if they know the IRS has knowledge of the income. Hence the required issuance of Forms 1099 for various types of income such as interest, dividends, rents and nonemployee compensation. It is interesting that there is one exception to the 1099 MISC reporting for the hauling of grain and livestock....More
  • Feb. 7, 2012
    blog

    The New Motto: Asset Rich and Cash Flow Rich Agriculture

    Historically, there has been an old saying that farmers and ranchers are asset rich and cash flow poor. In other words, they work their whole lives just above or below cash flow breakeven, scraping by, only to see assets – particularly land – appreciate in value which causes them to frequently die as millionaires. Often the key to success was utilizing non-farm income to supplement cash flow while withdrawing a modest family living allocation from the farm....More
  • Feb. 7, 2012
    blog

    2012 Crop Insurance Decisions

    During the next few weeks, many farm operators will be finalizing their crop insurance decisions for the 2012 crop year. March 15 is the deadline to purchase crop insurance for the 2012 crop year. The Common Crop Insurance Policy (COMBO) was introduced in the 2011 crop year, and will continue for the 2012 crop year. The COMBO insurance policy options are actually a simplification of the many and varied crop insurance choices that existed previously for individual policies....More
  • Feb. 3, 2012
    Article

    IRS Makes Changes to Schedule F

    When you prepare to file your 2011 farm income tax return, you will find the Internal Revenue Service (IRS) has made some major changes in the 2011 Form 1040 Schedule F. It is important to understand these changes. The 2011 Schedule F has new sub-lines, all of which begin with the word "specified." Lines 1a, 2a, 7a, 8a, 37a, 42a and 43a were added to implement reporting of farm income received via merchant card and third-party network payments. However, these lines will rarely apply to the average farmer....More
  • Feb. 1, 2012
    Article
    Corn and Soybean Digest

    Watch Black Sea Exports | 20% of World Grain Trade in This Region Challenges U.S. Exports

    Hardly more than a year since Russia and Ukraine shook the world grain trade by halting grain exports, both nations are back competing for sales. And not just in traditional export markets for wheat and barley; Black Sea grain is beating out U.S. corn with some customers....More
  • Feb. 1, 2012
    Article
    Corn and Soybean Digest

    Meet Steve Censky, American Soybean Association CEO

    When Stephen Censky became CEO of the American Soybean Association in 1996, ASA was emerging from an unsettled sequence of chief executives who came and went quickly. “Steve was a welcome solution,” remembers Ron Heck, an Iowa soybean grower who has worked with Censky almost from the start....More
  • Feb. 1, 2012
    Article
    Corn and Soybean Digest

    Grain Transport Blues | Transportation Infrastructure Threatens U.S. Competitiveness

    In the middle of the 2011 harvest, a 220,000-lb. guard gate fell into Lock 19 at Keokuk, IA, which plugged commodity movement down the Mississippi to New Orleans for six days. While Lock 19 was closed, 35 tows were backed up – which idled 27.6 million bushels of corn-hauling capacity....More
  • Feb. 1, 2012
    Article
    Corn and Soybean Digest

    The Other Corn Association | ACGA Favors Policy that “Encourages Fair Market Prices, Renewable Energy, Conservation”

    Keith Dittrich was 17 when he was a farmer activist in the making. Over 30 years later, he chairs the American Corn Growers Association (ACGA), or as it’s safe to say, “the other corn growers’ association.” Dittrich, who farms in Tilden, NE, says the nearly 25-year-old ACGA is still entrenched with its philosophy of getting farm policy handled at the grassroots level....More
  • Feb. 1, 2012
    Article
    Corn and Soybean Digest

    Raise the Bar: Proactive and Progressive | Risk Management Drives Most Long-Term Decisions at JCS Family Farms

    Can you trace a kernel of your corn back to its field, seed lot and agronomic program? Can you delegate field operations to free your time for marketing and risk management?...More
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