Blogs

Be the first person to recommend this.
Farm Cash Receipts May Hit New Low in 2020 Following a sharp downturn in many commodity prices as a result of COVID-19, USDA’s most recent Farm Income Forecast, released Sept. 2, projects cash receipts from the sales of crops and livestock will decline by $12 billion, or 3%, from 2019 to $358 billion. If realized, U.S. farm cash receipts will be at the lowest level in more than a decade, and $18 billion below the 10-year average of $376 billion. Largely through the Coronavirus Food Assistance Program and the Paycheck Protection Program, Congress and the administration have provided a projected $23.4 billion to help farmers and ranchers impacted by COVID-19. ...
0 comments
Be the first person to recommend this.
In a year where so much has changed, it’s nice to see one thing that hasn’t: rural land values. “Steady is kind of the story on good land,” said Dennis Reyman, AFM, ARA, and incoming President-Elect of the ASFMRA during a recent panel discussion on land prices in the COVID era. Reyman was referring to his experience in Iowa, where he lives and works, but this observation was shared by the other panelists, including Ray Brownfield, AFM, out of Oswego, IL, and Matt Marschall, ARA, from California.  One of the bigger factors affecting prices seems to be the general rule of supply and demand. All three panelists noted that there just hasn't been very much quality ...
0 comments
Be the first person to recommend this.
Bring Legal Descriptions to Life The metes and bounds system is nearly as old as land ownership itself, with evidence of it existing from as far back as Ptolemaic Egypt and the Roman Republic. In the United States, the fingerprints for this method of surveying property can be most easily found in the states that were once the 13 original colonies. This system, which utilizes the completely subjective interpretation of natural features and markers by a land surveyor, is by no means new, but it’s also not going away anytime soon, either. Back in the day, when surveyors lacked sophisticated measuring systems and mapping tools, metes and bounds was a reliable ...
0 comments
Be the first person to recommend this.
sponsored by Preferred Partner LIA Administrators By Claudia Gaglione, Esq. – National Claims Counsel for LIA Administrators & Insurance Services Carefully crafted language, both specific and standard, is key in appraisal reports. One insured appraiser recently avoided a potentially costly lawsuit by including well-thought-out language that addressed issues related to large rural properties. In 2017, a roughly 10-acre property was subdivided into two parcels, one was about 7 acres and the other almost 3. Each parcel had a single-family home. The owner who subdivided the property sold the smaller parcel to a third party while continuing to occupy ...
0 comments
Be the first person to recommend this.
USDA Narrows Qualifications for Farm Subsidies Loopholes remain, but the USDA is tightening its crop subsidy rules by limiting who can collect a payment for managing a farm, historically one of its most porous definitions. The new regulation, to be published on Monday, requires people to perform at least 500 hours of management or at least 25% of the management work required annually to merit a subsidy check. Previously, the USDA standard was active personal management that was crucial to the profitability of the farming operation. Crop subsidy recipients can collect up to $125,000 apiece, with spouses automatically eligible for payments. Read the ...
0 comments
Be the first person to recommend this.
An article published in the 2020 Journal of the ASFMRA contains a financial analysis of alternative levels of facility investment associated with installing automatic milking systems (AMS). In addition to installing two automatic milking units at a cost of $380,000, the paper looks at three facility construction alternatives: a minimal retrofit to existing facilities costing $70,000; construction of a new open sided barn costing $470,000; and the construction of a fully enclosed barn costing $920,000. Therefore, the total investment ranges from $450,000 to $1,300,000. To read more on this article, visit here. To view the entire 2020 Journal of the ASFMRA, ...
0 comments
Be the first person to recommend this.
Get to know the Minnesota and North Dakota Chapters' Chelsey Pizel! A recent addition to the ASFMRA, Ms. Pizel joined the Society in January 2020 and currently works for Crown Appraisals in Fargo, North Dakota. Pictured: Chelsey Pizel with her fiance, Jason. When did you begin your career in agriculture? Why? As a child I spent a great deal of time on my grandpa's farm. I also spent many hours with my uncle - who is a Sales Agronomist and also farms - checking fields, conducting yield checks, and conversing with farmers. Agriculture has always been a significant part of my life so a career in this industry was an easy choice. I graduated from North ...
0 comments
Be the first person to recommend this.
Michigan Mandates COVID-19 Testing for All Farm and Food Processor Employees Last week, Michigan became the first state in America to require farmers and food processors to routinely screen and test all employees for COVID-19. The emergency order, issued by the state’s health department, also applies to operators of migrant housing, where the virus has spread in close quarters. Robert Gordon, the state’s director of health and human services, cited 11 outbreaks in recent weeks in farm and food plants in Michigan, as well as the sizable impact on Latinos in the agriculture workforce. Read the Full Story Powerful Derecho Damages 10M Acres of Cropland ...
0 comments
Be the first person to recommend this.
A recent study published in the 2020 Journal of the ASFMRA recently explored the multifaceted benefits of utilizing cover crops in cotton and peanut production systems in Georgia agriculture. Along with identifying the benefits of adopting this conservation practice, this study also examined both the costs and incentives associated with cover crop adoption. To read more on this article, visit here. To view the entire 2020 Journal of the ASFMRA, click here
0 comments
Be the first person to recommend this.
The 2020 ASFMRA Education Foundation Summer Raffle has concluded having raised more than $4,600 to help supports projects and programs that ensure ASFMRA members provide the leadership that meets the changing needs of agriculture. THANK YOU to all who donated to this fantastic cause. The ASFMRA Education Foundation has been aiding the ASMFRA as it develops additional online offerings, navigates restrictions imposed by the COVID-19 pandemic, and seeks new partners to bring relevant content and education to its members. Your contributions help the ASFMRA towards its mission of advancing the standards of the disciplines we represent through an unparalleled ...
0 comments
Be the first person to recommend this.
Rural Residential Loans on the Rise T r aditional rural lending from farm credit associations in recent years has found a growing market niche in rural residential loans. That has equated to specialized financing for land loans, rural home loans, lot loans, and recreational land loans seeding private spaces for hunting, fishing and horseback riding. Anecdotally, many are aware of conversations tied to the COVID-19 pandemic where millennials on the coasts are assessing whether they should move to the country and leave behind big city living, as their jobs can afford them telecommuting. Baby boomers are more interested, in these times, in getting a small ...
0 comments
Be the first person to recommend this.
On-farm storage is a common merchandising tool. However, information regarding optimal storage strategies remains incomplete. A recent study published in the 2020 Journal of the ASFMRA sought to provide farm managers a better understanding of the opportunities for earning storage returns and the strategies for doing so that best fit their operations by evaluating historic returns to storage for corn and soybeans in Indiana. To read more on this article, visit here. To view the entire 2020 Journal of the ASFMRA, click here
0 comments
Be the first person to recommend this.
The term “farm manager” is broadly used to describe a range of job descriptions. Those who look after family land but do not actively farm sometimes call themselves a farm manager. Politicians are sure to add this to their resume, if possible. Or the good neighbor who oversees a few farms may be a “farm manager." While there is nothing wrong with these titles, there is another category that you should be familiar with: the “professional farm manager." Read the full article from Dennis Reyman, AFM, ARA, here
0 comments
Be the first person to recommend this.
Bankers Expect Farm Loan Defaults to Rise This month, bankers estimated that farm loan defaults would rise by 5% over the next 12- month period. This is up slightly from 4.8% registered one year ago. Farmland prices continue to slide, with a July reading of 45.6, down from June’s 46.8. This is the 79th time in the past 80 months the index has been below growth neutral. Falling agriculture commodity prices and farm income have failed to diminish annual farm rents per acre. This month bank CEOs reported average per acre farmland rents of $220 which is almost unchanged from that detailed earlier this year, and four years ago. Read the Full Story Texas ...
0 comments
Be the first person to recommend this.
The 2017 Census of Agriculture for the first time collected information on decision types at the farm level. Louisiana State University Agricultural Center Assistant Professor Maria Bampasidou and Graduate Research Assistant Whitney McKinzie recently examined the decision-making patterns for U.S. producers, documenting the spectrum of farm-management decisions and highlighting time as an important parameter in decision-making. Read more about this 2020 Journal of the ASFMRA article here
0 comments
Be the first person to recommend this.
Get to know the South Dakota Chapter's Kim Larson! An ASFMRA member since 2014, Ms. Larson is a Certified Real Estate Appraiser at Farm Credit Services America in Pierre, South Dakota. Since becoming the Chapter's Membership Committee Chair in 2017, South Dakota's membership has grown by more than 17%. When did you begin your career in agriculture? Why? I grew up on a cow/calf & grain operation north of Kennebec and west of Lower Brule (South Dakota). So I’ve been involved in ag all my life. How did you come to be involved in the ASFMRA and the South Dakota Chapter? I have a BS in Computer Science from South Dakota State University and an ...
0 comments
Be the first person to recommend this.
Plummeting Corn and Soybean Prices for Indiana Farmers Currently, corn is priced at around $3.41 per bushel and soybeans are priced at around $8.79 per bushel. At this time last year, corn prices were roughly $4.50 per bushel and soybeans could be sold for closer to $9 per bushel. Prices have been inching up slowly in recent months, but experts say it's hard to predict future trends, especially as the patterns of the coronavirus itself is hard to nail down. Read the Full Story How the Wealthy are Replacing Third- and Fourth-Generation Farmers Many of the farmers in Heber City were aging, and selling their land meant they could retire. Most encouraged ...
0 comments
Be the first person to recommend this.
$1.65M Solar Farm for Sale in Massachusetts If you've ever wanted to own your own electric utility, here's your opportunity. There's a 2-acre solar farm for sale in Upton for just $1.6 million. As the owner, you'll be providing energy for hundreds of people in the Blackstone River Valley, and officially be part of the National Grid system. Read the Full Story Maryland County Figuring Out Legal Hemp Logistics At the edge of the shadows of the Catoctin Mountains in Keymar, there stands a canopy of glass enclosing 17 acres of plants, protecting them from the cold air outside one afternoon in late February. Most of what was planted inside were flowers ...
0 comments
Be the first person to recommend this.
COVID-19 Disrupts Agricultural Economy Economic activity declined in all Federal Reserve districts since April 15, according to the latest Federal Reserve Beige Book. The latest Beige Book was released May 20. The report is published eight times a year. It's a summary of anecdotal information on current economic conditions in Federal Reserve districts. Read the Full Story Post-COVID-19 Pandemic: What's It Mean for Agriculture Before the COVID-19 outbreak, massive pandemics seemed relegated to the Spanish flu pandemic of 1918. So, could a COVID equivalent happen today in crops? There have been some ominous signs in recent years. In 2005, Asian ...
0 comments
Be the first person to recommend this.
Low Interest Rates Help Keep Farmland Values Stable An extension ag business management instructor is confident farmland will hold its value as long as interest rates remain low. David Bau with the University of Minnesota says his latest survey of 14 counties in southwest Minnesota shows prices only softened an average of $13 an acre. He attributes that relative strength to continued high cash rents and cheap interest rates. “That helps the borrower if you want to borrow some money for land. It also gives a better opportunity towards investing in land than investing in CD’s at the bank because the interest rates are so poor that the investors might think ...
0 comments