May, 2011

Retail Coffee Prices Up 38% in One Year

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May 25th, 2011

This week, Smuckers, the makers of Folgers and Dunkin Donuts retail coffee announced an 11% increase in the cost of their coffee.  This comes on top of a 10% increase in February, a 9% increase in August of last year and a 4% increase in May of last year.  If you apply all of the increases […]

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Don’t Be A Hobby Farm

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May 23rd, 2011

Many of our readers will ask us questions about starting a farm, however, when discussing it with them, many of them are talking about a hobby farm and not a real farm.  For tax purposes, a hobby farm has some very unfavorable consequences to the farmer.  Net income is always reported, however, a net loss […]

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Are High Wheat Prices Contributing to Mideast Turmoil?

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May 20th, 2011

The Thursday edition of the Wall Street Journal had a front page article on how the rapid increase in wheat prices is contributing to the turmoil in the Mideast.  Most of the Mideast countries consume a much higher percentage of wheat in their diet than any other countries in the world.  For example, Americans consume […]

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Components May Qualify for 100% Bonus Depreciation

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May 18th, 2011

In a post a couple of days ago, I indicated that a new Ag building placed in service after September 8, 2010 but where the construction started before that date would not qualify for 100% bonus depreciation, but would qualify for 50% bonus depreciation. There is one exception to this rule that may help farmers […]

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Are You Ready For The Whipsaw?

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May 17th, 2011

With the turmoil in the world commodity markets and the concern about the flooding and weather conditions in the US, farmers can expect that their commodity prices are going to whipsaw up and down very rapidly over the next several months.  A key to not getting personally whipsawed is to have a written plan in […]

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Watch Your Date of New Construction

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May 12th, 2011

The tax law passes late last year had a very favorable tax treatment for the construction of new farm buildings.  In that law for any new farm buildings placed in service after September 8, 2010 and before January 1, 2012, a farmer would be able to write off 100% of this new construction cost in […]

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Motorcycle Ride to LA

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May 3rd, 2011

Just a personal note to let you know that a friend and I are riding our motorcycles to Los Angeles from Yakima for my second’s son college education.  Two down and two to go. I will be gone from today until next Tuesday and may not do any postings between now and then. Paul NeifferPaul […]

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If Grain Markets Are Topping, Start Locking In Profits

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May 2nd, 2011

During 2008, grain markets were almost as high as they are now, however, many farmers were not able to take advantage of these prices either through already having their crop sold or through inaction by the farmers. I don’t know how many times I have heard a farmer in my office or out in the […]

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    Sort of sad all of the orange groves that have been pulled out due to drought 3 days ago

    Traveling north of Bakersfield CA. Orange groves by the dozen 3 days ago

    When "bullish" corn reports lead to flat closes what is Mr. Market telling you. Be careful. 2 weeks ago

    2010 spring corn price was $3.99. Only four years ago. 3 weeks ago

    Two good days to lock in decent prices on corn and beans. Did you take advantage of the opportunity 3 weeks ago

    Very little change on corn intentions in key corn belt state. Almost all reductions in fringe states such as ND down 1 million acre 3 weeks ago

    North Dakota up 1 million Minnesota up 700k and Nebraska up 600k represent almost half of the 5 million increase in bean acres 3 weeks ago

    Just spoke for 45 minutes on new farm bill to a group of 100 Minnesota and Wisconsin Co-op board members. No one fell asleep. 4 weeks ago

    Hard to beat spring time in the Pacific Northwest. 1 month ago

    Kansas City can be windy this time of year. Just got done taping with a farm family. Check it out on #agday next Friday 1 month ago