Farm Operations

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    September 2nd, 2015


    If Crop Insurance Subsidy Disappears, Will Premiums Rise For All?

    Congress continues to discuss reducing or eliminating the subsidies for crop insurance premiums for those producers whose adjusted gross income exceeds a certain level ($750,000 is a current number discussed).  If these subsidies are eliminated for these farmers, it is likely that those farmers may stop participating in the RMA managed crop insurance system.  Instead, […]

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    August 27th, 2015


    Midwest Cropland Values Continue to Drop

    The Chicago Federal Reserve released their latest AgLetter earlier this month and their survey of land values in Iowa, Illinois, Indiana, Wisconsin and Michigan found annual decreases in cropland values in Iowa and Illinois of about 6-7% and small increases Indiana and Michigan.  Indiana values were actually up a bit from the first quarter and up […]

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    August 21st, 2015


    The Final Day of the Crop Tour

    On Wednesday, the Pro Farmer had the very first sample that ever went over 300 bushels per acre.  It was taken in NW Iowa and the record lasted for only one day.  On our route through SW Minnesota, we made a stop and happened to hit a field that had 20″ rows.  Our scouts went out […]

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    August 18th, 2015


    A Tale of Two Days

    Yesterday on the first day of the crop tour, I was pleasantly surprised by the South Dakota corn and soybean crop.  However, the corn crop in NE Nebraska on our route was at best average (in my opinion), but most everyone else indicated it was above average. Today’s route found us heading south out of […]

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    August 12th, 2015


    How Might ARC-CO Payments Look Next Year

    We have final MYA prices for wheat, barley and oats.  Based on those prices, the benchmark price for each of these crops for the 2015 crop is as follows: Wheat $6.70 up 10 cents from $6.60 Barley $5.57 up 12 cents from $5.45 Oats $3.48 up 23 cents from $3.25 We do not have final […]

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    August 4th, 2015


    Day 1 of the NSAC Annual Meeting

    I am attending the annual National Society of Accountants (NSAC) annual meeting in Denver.  For those of you who work with cooperatives who are not members of the NSAC, I would strongly encourage you to become a member. There are numerous education opportunities, resources, and great networking opportunities available. Also, if anyone of you reading […]

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    July 29th, 2015


    Farm Financial Standard Annual Conference

    Today begins the annual Farm Financial Standards Council annual conference in warm Kennewick, Washington (we are supposed to be 104 on Friday).  The Council primary goals are to provide guidance to agriculture producers on preparing accrual based financial statements.  The meeting gets started today with committee meetings.  Tomorrow’s schedule has speakers on succession planning and […]

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    July 20th, 2015


    WA State Piece Rate Workers Must Be Compensated for Breaks

    The WA Supreme Court decided on July 16, 2015 in Demetrio v. Sakuma Bros. Farms, Inc. that employers must pay piece rate workers for rest periods “separate and apart from the piece rate.”  Farm workers paid by the task are entitled to rest-break pay above the negotiated piece rate.  This ruling is the result of a […]

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    July 13th, 2015


    Not Filing a Information Return is Getting More Expense

    Late last month Congress passed the Trade Preferences Extension Act of 2015 to continue the fast track of trade negotiations (TPA, etc.).  However, to pay for part of the Act’s provisions, the Act increased the penalties for not filing information returns (Form 1099) and the increase can be substantial in the case of multiple non-filed […]

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    July 10th, 2015


    Updated PLC Yields Much Higher Than Old Yields

    One of the options available to landowners under the 2014 Farm Bill was to update their yield to 90% of the average yield from 2008 to 2012.  A producer could retain the old CCP yield which in many cases had not been updated since the 1980s or update to the new yield.  Producers who elected […]

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