Ag News, May 14, 2013

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Fed Bank Economists Warn “Wealth Effect” Decline in Land Values
LandOwner

The Federal Reserve Bank of Kansas City just tossed cold water in the face of the land market with its recent report titled: “The Wealth Effect in U.S. Agriculture.”

Written by Jason Henderson, bank vice president, and Nathan Kauffman, economist, the report delivers an important reminder to farm operators, landowners and lenders as agriculture prepares for a projected decline in net farm incomes in 2014 and beyond. Download the report:  : http://www.kc.frb.org/publicat/mse/MSE_0113.pdf
Login to Member Resources to download the latest issue of LandOwner: http://portal.asfmra.org/Scripts/4Disapi.dll/4DCGI/cms/review.html?Action=CMS_Document&DocID=27&Time=820983562&SessionID=62057594yhofx712z58m6ib178uofz4n8xa01t8fypx92ywdh85706r0j6bv566f&MenuKey=123
Your login is your first and last name with NO space and your password is your member ID#. Please call Suzanne at 303-758-3513, Ext 101 or email at sgruba@asfmra.org if you need assistance with logging in.

Open data a treasure trove for world agriculture?
By David Bennett

Over the last few years, there has been much fretting about the ability of farmers to feed and clothe a booming world population, expected to hit 9 billion by 2050. One solution to keep bellies full: share knowledge now that will, hopefully, drive new agronomic methods and technological breakthroughs in coming years.

Towards that end, following up on earlier commitments, the G8 countries (France, United States, United Kingdom, Russia, Germany, Japan, Italy, and Canada) are now providing open access to government-funded research that impacts agriculture. This week, the countries – along with representatives from Africa – met to kick-start the process.

Read more on the Southwest Farm Press website: http://southwestfarmpress.com/government/open-data-treasure-trove-world-agriculture?NL=SWFP-01&Issue=SWFP-01_20130510_SWFP-01_2&YM_RID=sgruba@asfmra.org&YM_MID=1392717&sfvc4enews=42

Public lands ranching at issue in court battle over California oysters
From Agri-Pulse

Like the canary in the coalmine, thriving oysters in your bay indicate clean water. Among added benefits, thriving oyster beds make clean water even cleaner because they filter sediment and excess nutrients.

But the oysters raised in the waters bordering the National Park Service’s Point Reyes National Seashore, an hour’s drive north of San Francisco, have become something of an endangered species. That’s because the National Park Service has ruled that commercial oyster farming is incompatible with its goal of operating Point Reyes as a designated wilderness area.

A number of major national environmental organizations including the Sierra Club, the National Parks Conservation Association, and the Natural Resources Defense Council have joined with the National Park Service in fighting to remove the oyster company from Point Reyes. The anti-oysters argument is that Congress intended Point Reyes to become a wilderness area. According to this view, wilderness should trump oystering despite past agreements, despite members of Congress who dispute the Park Service’s interpretation of congressional intent, and despite scientific findings indicating that oysters generate environmental benefits. Learn more about this issue.

Young Professionals Network Event at Summer Ed Week
Register Now!

The ASFMRA is keenly focused on the skills and drive that you need not for only your career but the ASFMRA and the Professions we serve. For a year now a small group of young professionals have been engaged in some great activities and planning for activities at Summer Ed Week. The Young Professionals Network (YPN) will be holding a great communications session, sponsored by DuPont Pioneer at the Summer Education Week for ASFMRA, on the afternoon of July 14, 2013 at the Embassy Suites Hotel in Omaha, NE. There is no charge for this event which includes the communications workshop, reception and dinner.  There are a limited number of spots so register now: http://portal.asfmra.org/Scripts/4Disapi.dll/4DCGI/events/8055.html?Action=Conference_Detail&ConfID_W=8055&Time=376221980&MenuKey=12

Welcome New Members

Thank you for being a part of the ASFMRA! Help the ASFMRA welcome our new members. The ASFMRA appreciates every member for choosing the Society as the association you desire to affiliate with. The ASFMRA continues to make every effort to offer member services which will be of benefit to you professionally and personally.

We are recognizing new members of the Society on a monthly basis. You may recognize your fellow peers in the following list and we encourage you to welcome them into the membership of the ASFMRA.

New Members
Jacob Brewster with C.W. Page & Associates, Inc. in Clovis, CA (California Chapter)
Cassandra Carrithers at the University of Kentucky in Lexington, KY (Kentucky Chapter)
Nathan Payne at the University of Kentucky in Louisville, KY (Kentucky Chapter)
Brent Rockers with Syngenta in West Des Moines, IA (Iowa Chapter)
Wayne Spire in Maryville, MO (Missouri Chapter)

Testified in Court Lately? What You Need to Know

Regardless of your membership classification or specialty, all members of the ASFMRA are required to comply with the ASFMRA Code of Ethics. This is one way the ASFMRA is able to stand above the rest as the Society whose members are delivering the highest quality work. Within 30 days after you testify as an expert giving an opinion before a tribunal where another ASFMRA member testifies for the opposing party, you are required to file a case report with the Society. The ASFMRA Code of Ethics, Article 14 defines a tribunal as “…a body or individual who renders a final decision. Depositions are not final decisions.”

If you find yourself testifying in court on opposing sides of another ASFMRA member, simply complete the Appraisal Review Case Report (http://portal.asfmra.org/userfiles/file/members/arcform.pdf)  form and return it to Hope Evans with any additional information you wish to provide as indicated in Note 2 on the form. Please indicate on the envelope it is Confidential and include Hope Evans’ name then it will be delivered directly to her unopened.

The ASFMRA Executive Vice President, Brian Stockman, stated: “One of the advantages of belonging to a great professional Society like ours is this exact process. By submitting the testimony, we are policing ourselves to ensure ASMFRA members are delivering the highest quality and most ethical reviews and appraisals. “Most Trusted” is not just a tagline.”

Thank you to all ASFMRA members for making the Society one of the elite organizations in the agricultural profession.

Call for Papers

The Journal of the ASFMRA is a prestigious publication that contains the most up-to-date collection of agricultural consulting, farm management and rural appraisal topics available to the world. It’s cutting-edge manuscripts document research, field studies, practices and methodologies proposed by leading academic, appraisal, consulting and management leaders of agriculture. Authors include university professors and students, practicing appraisers and farm managers, and experienced agricultural consultants. Many papers are submitted by ASFMRA members.  Deadline for submission is August 15, 2013.  See below for pertinant links.
URLs: Journal: http://www.asfmra.org/ag-publications/journal-of-the-asfmra/  Guidelines: http://www.asfmra.org/ag-publications/journal-submission-guidelines/  PDF Guidelines: http://www.asfmra.org/wp-content/uploads/2012/04/ManuscriptGuidelines-051712.pdf   Archives: http://www.asfmra.org/ag-publications/journal-archives/

Chapter News

The MidSouth Chapter Summer Meeting
June 27-28, 2013
Income Approach Applications Seminar
Memphis, TN
Registration info coming soon

Oregon Chapter Successful Meeting

The Oregon Chapter had a great chapter meeting this last week including the Marshall & Swift Valuation course.  There was beautiful weather for the Friday afternoon field trip of a developed property, historically a lumber mill, currently a high end shopping center “The Old Mill District”.  The developer spoke on Thursday evening and presented a slide show of the development “before and after”.  They also had an overview of the emerging local brewery industry in Bend, OR and value added agriculture, with two facility tours. 

 News from the Appraisal Foundation

The Appraisal Foundation to Host Second Business Valuation Roundtable

Fair Value and Financial
Reporting: Auditors and Registrants View

June 13, 2013
Washington, DC
For many years regulators, auditors, standard setters and valuation practitioners have expressed concern over the need for greater commonality among valuation standards and practices, valuation education and oversight in the business valuation profession. In response to such comments, The Appraisal Foundation hosted its first public roundtable discussion on these issues as they relate to financial reporting last Spring.
Get complete info: http://d.sh6.mailingliststart.com/new/en_send_preview_iframe2.aspx?SID=0&SiteID=933&NewsletterID=995672&EmailID=97575054&HitID=1367441813698&token=c25ada9413b7cf583142eac9a311a7328de93a73

Women in Agribusiness

The 2nd annual Women in Agribusiness Summit is less than six months away and will once again provide a unique platform for women leaders in the agribusiness and food sectors to network and discuss gender-specific and industry topics.
Register by May 31 at the lowest possible rate and receive an additional 5% off by using promo code WIA13-EB5.
Website: http://www.cvent.com/events/women-in-agribusiness-summit-2013/event-summary-d6389c14ce3d475d918ed2db29a27843.aspx

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