Farm operators who have had their 2014 ARC-CO payments negatively affected by the choice of their FSA administrative county have until Feb. 1, 2016, to request FSA to re-calculate their 2014 FSA payments on the basis of the physical location of each FSA farm unit....More
The wildcard in this economic reset will not be your lender, the agribusiness industry, or government response; it is the regulator. Like many others in the industry, regulators are readying for headlines and stories of economic stress within various commodity groups. Their reaction to these headlines, however, will largely determine the ability of an individual producer or agribusiness to successfully obtain credit....More
Workers hired directly by farm operators numbered 841,000 for the reference week of October 11-17, 2015, up 8% from the October 2014 reference week. There were 872,000 workers hired directly by farm operators on the Nation’s farms and ranches during the week of July 12-18, 2015, up 4% from the July 2014 reference week....More
As the agriculture industry continues to reset, these stories should command particular attention. Changing trends and lack of accurate financials have the ability to shut down your profits. Business planning, monitoring and execution hold great power in your business success....More
It’s time to party. The best reason for this -- harvest is over (or almost in some cases). Second best reason, at least in our case, is that our brand, Corn+Soybean Digest, is 75 years young this month....More
In agriculture, negative margins and declining asset values place many producers in this same financial mindset. What are some of the key items you need to review in your historical financial information? Approaching your examination from your lender’s perspective will help you be prepared....More
Two factors are leading some farm operators to be overly optimistic about crop income expectations for 2016, and is also resulting in some landlords being unwilling to reduce high cash rental rates for the 2016 crop year....More
As landowners calculate farmland rental rates for the coming year, they may want to consider completing the process with a written cropland rental or lease agreement. Such a document can go far to protect both landowners and tenants, says Rory Lewandowski, an Ohio State University Extension agriculture and natural resources educator....More
Tying conservation practices to federal crop insurance rules and rates requires turning field experience into public policy, and that requires data. AGree, a collaborative effort founded and funded by nine of the world's leading foundations committed to food and agriculture, is attempting to make that connection....More
In the 5 ag stories to read this week, get advice from experts on not skimping on crop inputs and see what a balance sheet looks like with lower farmland prices. Read about an EU rejection of opting out of biotech food and learn about changing chisel points to increase residue. Finally help out an ag-friendly Senator who supports biotech and a uniform food labeling system.
The first confusion surrounding ARC-CO payments is why producers in one county get the maximum payment for a crop for the 2014 crop year, and producers in another county get zero payment for the same crop....More
When managing a farm business for success and sustainability, all variables must be evaluated including, family living withdrawals and investment patterns both on and off of the farm. Family living withdrawals can make the difference between a successful or vulnerable farm or ranch business. Position your family and business for success!...More
In the 5 ag stories to read this week, take in some online agronomy classes and get new tips for phosphorus application. Read about the latest rules for drone use and get out to sample for SCN. Finally, take some time to set Subway straight and share some reliable farm information about antibiotic use in livestock.
As economic scenarios continue to play out in the emerging nations, it will be interesting to see which options the pilots of our economy choose with political dysfunction, global military and social tensions on the rise....More
The increased corn and soybean yields in the latest USDA Report was more than offset by reductions in the estimated harvested acreage for both crops, and resulted in decreases in the expected 2014 crop production levels, compared to the September report....More
Like any high-stakes card game, knowing when to hold or fold is vital to your farm business. That is especially true today for land leases – with input costs holding, crop prices folding and operators dangling from record high rents....More
The final 2014 MYA prices announced by the National Ag Statistics Service (NASS) were $3.70 per bushel for corn, and $10.10 per bushel for soybeans. These are the MYA prices that will be used across the United States on a county basis to determine if corn and soybean producers are eligible for a 2014 ARC-CO payment in October....More
Increased oversight and regulation limit your lender’s flexibility. Be aware of this situation and be prepared! Make sure your financial records are up to date and accurate. Maintain adequate working capital....More
In the 5 agriculture stories to read this week, get some considerations for lime applications and learn more information about tar spot, a newly spotted corn disease. Review crop budget changes for 2016 and get some harvest and post-harvest tips. Finally, enjoy a story about farmers helping farmers in a time of great need.
There is no magic silver bullet in selecting the next best enterprise for your farm operation. First, assess the goals and values of the business, family and personal lives. After examining the goals, ascertain whether adding a new enterprise is consistent with the goals, both short and long-term. It does not matter what the new enterprise may be if the current business cannot support it....More
Average rental rates for 2015 did drop a bit in some areas, but in general have remained quite high across the region. Farm operators and landlords are now beginning the process of negotiating land rental contracts for the 2016 crop year, and are trying to arrive at equitable rental rates, based on the lower crop prices that we are now experiencing....More
In the 5 agriculture stories to read this week, get some tips for harvesting down corn and insight into reduced fertilizer application given low commodity prices. Read about climate change consensus from non-climate scientists and learn which farm management practices are the worst. Finally, read an article reminding us that GMOs are more than just food.
Cash rents on professionally managed farmland likely will decrease for the 2016 cropping year. Rents on non-professionally managed farmland likely will decrease as well. However, projected rent decreases are not large enough to cause farmers to have positive returns in 2016....More