Issues

How Do You Define Success?

Thu, 16 May 2013 20:35:00 +0000

Some define success as the long-term succession of your kids at the farm. Albert Schweitzer defined success as loving what you do. How you treat others, from family to strangers, is Barbara Bush's definition of success.

Bottom Line

May 14 USDA Weekly Weather Update

Thu, 16 May 2013 19:12:00 +0000

Source: USDA

During the second half of the week, a new weather system swept across the Midwest, South and East, producing additional showers and closing a brief window of opportunity for fieldwork. Mid- to late-week rainfall was not especially heavy, although many parts of the Corn Belt received in excess of an inch. Farther west, dry weather prevailed across the northern Plains and far Upper Midwest, promoting an acceleration of spring wheat planting and other fieldwork.

House Ag Committee Approves Farm Bill

Thu, 16 May 2013 14:15:00 +0000

Source: House Agriculture Committee

Chairman Frank Lucas (R-OK) and Ranking Member Collin Peterson (D-MN) issued the following statements after the House Agriculture Committee approved the farm bill, H.R. 1947, the Federal Agriculture Reform and Risk Management (FARRM) Act of 2013, by a large, bipartisan vote of 36-10. Committee members also adopted, by voice vote, an en bloc amendment.

Shock and Stress Testing: Analysis by Lenders

Tue, 14 May 2013 18:23:00 +0000

One of the major financial shock tests that a lender must perform concerns concentration of credit. Regulators and oversight specialists are very concerned about this component as agriculture consolidates with fewer producers generating more of the revenue and carrying a larger proportion of the debt.

Road Warrior

House Ag Committee Drafts Farm Bill

Mon, 13 May 2013 16:07:00 +0000

Source: House Agriculture Committee

On May 10, the House Ag Committee marked up their version of the Federal Agriculture Reform and Risk Management Act (FARRM) Act of 2013. It is nearly identical to the bill marked up last summer.

Senate Marks Up the 2013 Farm Bill

Fri, 10 May 2013 15:35:00 +0000

Source: Senate Agriculture Committee

The Senate’s bipartisan 2013 Farm Bill represents the most significant reform of American agriculture policy in decades.

With the Agriculture Reform, Food and Jobs Act, the era of direct payments is over. Instead of subsidies that pay out every year even in good times, the bill creates risk management tools that support farmers when they are negatively impacted by weather disaster or market events beyond their control.

7 Questions About the Farm Bill

Thu, 09 May 2013 20:19:00 +0000

Source: University of Illinois farmdocDaily

Farm Bill markup likely will begin soon in both the Senate and House Agricultural committees. Much of the focus for traditional program crops will be around three programs: a revenue program, a target price program and a supplemental crop insurance program. While the exact nature of the programs will depend on negotiations, what is almost certain is that the programs' rationale will be risk management. Given a risk management focus, farm bill negotiations will need to debate and somehow resolve the following seven questions.

Financial Shock and Stress Testing

Tue, 07 May 2013 21:27:00 +0000

The other day a young producer was concerned because he had difficulty obtaining his operating loan for yearly operations. He stated that the lender performed financial shock tests that raised concerns about his financial status. Let’s examine some of the financial shock tests that are top of mind with your lender, and particularly the regulators that provide oversight on agricultural loans.

Road Warrior

ACRE Program Decisions for 2013

Tue, 07 May 2013 21:24:00 +0000

The Average Crop Revenue Election (ACRE) Program was implemented by USDA for the 2009 crop year, as part of the 2008 Farm Bill, and continued for the 2010 to 2012 crop years. For 2013, eligible farm operators will again have the option to enroll in the ACRE Program, as an alternative to the current Counter-Cyclical Payment (CCP) Program.

Focus on Ag

USDA Announces Final Call for 2012 Census of Agriculture

Mon, 06 May 2013 18:39:00 +0000

Source: USDA

Don't miss your chance to provide the facts straight from the farm.

With the window to respond to the 2012 Census of Agriculture officially closing on May 31, the USDA is urging farmers and ranchers not to miss this opportunity to be counted and help determine the future of farming in America. USDA has already received more than 2 million completed Census forms.