Farm Operations

Top 100 Ag Banks

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July 21st, 2014

The American Bankers Association (ABA) posts a quarterly report of the 100 largest Ag Banks (Non-Farm Credit).  In the first quarter report for this year, the #1 bank for Ag loans was Wells Fargo with $7.229 billion of farmland ($2.231 billion and $4.998 billion of other ag loans).  #2 was Rabobank with $3.957 billion followed […]

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Rural Mainstreet Index Continues to Weaken

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July 18th, 2014

Creighton University prepares a Rural Mainstreet Index that measures the economic outlook for the agricultural/rural sector of the economy.  An index reading of 50 indicates growth neutral.  The index for June 2013 was at 60.5 and for June of this year, it has dropped to 53.6, almost growth neutral.  The index is composed of a […]

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Section 179 and Bonus Depreciation Update

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July 17th, 2014

I seem to get more emails, phone calls and conversations regarding Section 179 and bonus depreciation compared to any other question. Both the Senate and House have either discussed or proposed several bills to extend bonus depreciation and Section 179 or make them permanent. In my opinion none of these bills will ultimately be passed […]

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Transition Period for LGM-Dairy to DMM is Announced by FSA

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June 26th, 2014

The 2014 farm bill now provides for a new Dairy Margin Management (DMM) program.  Dairy farmers have been able to take advantage of Livestock Gross Margin-Dairy (LGM-Dairy) under current crop insurance provisions.  However, the 2014 bill provides that a dairy farmer cannot take advantage of both programs to prevent “double-dipping”.  In addition, the LGM-Dairy insurance […]

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Is Low Section 179 Causing Low Equipment Sales?

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June 24th, 2014

Most of the equipment manufacturers have released their equipment sales for the last quarter and most of them reported lower sales for the first quarter of this year versus 2013.  We have seen some commentators attribute this to the current lower Section 179 tax deductions for this year and no bonus depreciation. However, when you […]

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ARC-IC versus ARC-CO

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June 23rd, 2014

The FSA issued some regulations on the calculations of PLC and ARC late last month.  This notice provides a good overview of how the FSA will determine the payment calculations under PLC and ARC.  ARC is broken down into ARC at the County Level (ARC-CO) and ARC at the farm level (ARC-IC).  We had provided […]

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Dairy Margin Management Options

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June 18th, 2014

The new farm bill brought in an additional dairy margin management program that will be effective September 1, 2014 (perhaps later if FSA is not ready).  Dairy farmers currently have Livestock Gross Margin (LGM) Insurance under the crop insurance program.  It would be nice if dairy farmers could take advantage of both programs, however, the […]

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When to do Individual ARC May Be Tough to Decide

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June 16th, 2014

I originally thought that most farmers would want to pick county ARC since it makes a payment on 85% of base acres versus picking individual farm ARC since it only makes a payment based on 65% of base acres.  However, in running some scenarios through the ARC analysis, it may be tougher to choose than […]

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PLC/ARC Updates

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June 12th, 2014

One of the questions we are getting is “When would individual ARC make more sense than county ARC?”.  As most of our readers know, ARC and PLC makes payments based upon base acres.  In the case of county ARC, the payment is based upon 85% of base acres.  In the case of individual farm ARC, […]

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Washington State Sales and Use Tax Exemption Update

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June 12th, 2014

Washington State Sales and Use Tax Exemptions Update  For our Washington state readers, effective June 12, 2014, eligible farmers will no longer have to apply to the Department of Revenue and the Department of Revenue will no longer issue exemption certificates for repair parts and services for farm machinery and equipment. Instead, qualifying farmers must […]

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    Great time with @MRRChip today on Market Rally talking about the new farm bill. 30 mins ago

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

    If prices stay where they are at I estimate some farmers will $100 ARC payments next October. Could be difference between profit & loss 2 weeks ago

    I think the corn and bean markets are starting to feel like Brazil in the World Cup on Tuesday 2 weeks ago

    Do the Highs in Live Cattle equal the Lows in Corn and Beans 2 weeks ago