← FarmCPA Home

The Board is Not What it Used to Be!

By: | Trackback URL | No Comments

January 30th, 2013

Today was the first day of the Top Producer Conference.  The first session was very interesting.  Dr. Tom Deans, author of Every Family’s Business gave a talk on how many farmers really should be looking at “selling” the farm instead of “gifting” the farm.

Too many times, the gift of the farm ends up creating inter-family squabbles, while a sale, either to family or outside parties can greatly reduce this risk.  Definitely food for thought.

I then headed over the Chicago Board of Trade to meet up with Thomas Grasifi of Indiana Grain Company.  He took me down the floor and it became very apparent that trading has changed dramatically.  The pits where futures are traded were just about empty.  We spent some time at the corn options pit which was very interesting.

We then came back down for the close of the meats at about 1 pm and for about 2 minutes you could hear the roar from the pit action and then it was basically done for the day.

At 1:15, the Fed had their announcement and you had action in gold, financials and the equity indexes till the close.

Almost all of the futures trading is now electronic and it may not take much longer for more of the options, etc. to be done this way.

Paul Neiffer, CPA

Paul Neiffer

Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a partner with CliftonLarsonAllen in Yakima, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. In fact, Paul drives combine each summer for his cousins and that is what he considers a vacation. Leave a comment for Paul. If you would like to leave a comment for Paul, follow the link above, however, please make sure to include your email address so that he can reply to your comment (your email address will not automatically show up).

More Posts - Website

Follow Me:
Twitter

← FarmCPA Home

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Subscribe to this blog by:

Previous Posts

Events

View upcoming speaking engagements and other networking events for Paul Neiffer and CliftonLarsonAllen’s agribusiness team.

See All

  • Twitter Feed

    Corn does well in Washington state. 55 at night 95 during the day plus irrigation 23 hours ago

    If average cash rents drop $50 this fall and cash return is 2% equals drop in average land values of $2,500. We shall see. 1 day ago

    2 years ago corn + beans + wheat was almost $40. Now it is under $20. 2 days ago

    Great time with @MRRChip today on Market Rally talking about the new farm bill. 3 days ago

    Drove over 2,000 miles in last 12 days. Saw a lot of good looking corn. Beans not so much 5 days ago

    When you drive through Minnesota, South Dakota and Iowa this time of year you see a lot of corn and beans and not much else 2 weeks ago

    Possible another reason for high US corn yield estimates is acres switched to beans were lower yield corn acres 2 weeks ago

    Don't understand why nobody claims the USDA manipulates the data when the report is bullish 2 weeks ago

    USDA pegged lower corn production but if yields trends continue this will quickly change to production increase. 2 weeks ago

    The soybean YO-YO is well underway 2 weeks ago