ASFMRA AgNews - Vol. 13 Issue XXIV [June 12, 2018]

By ASFMRA Press posted 06-12-2018 08:56


Growing Land Values Pose Challenges

Buying farm ground isn’t easy these days, as Wilder, Idaho, potato grower Doug Gross was recently reminded.

“We tried to buy a farm adjoining us and we were outbid by an institutional investor,” he said.

Gross put in a bid he thought represented fair-market price. The institutional investor offered “hundreds of dollars more” per acre, he said. He would not elaborate except to say the investor’s offer was about 7 percent more than his.

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Senate Committee Releases Farm Bill

A Senate committee released a farm bill Friday that doesn’t impose new work requirements on food stamp recipients as sought by President Donald Trump and many House Republicans, setting up a potential fight between the two chambers.

The legislation adds complications to negotiations underway in the House, where a version of the bill failed last month because of an unrelated fight over immigration. Lawmakers in that chamber are seeking to revive the bill with the work requirements included.

Democrats almost universally reject new food stamp work requirements. Unlike in the House, where Republicans can pass legislation without the help of Democrats, a more bipartisan approach is needed in the Senate because the GOP has a narrow majority and often needs Democrats’ votes to pass legislation.

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Ag Groups Take Action in WOTUS Case

OMAHA (DTN) — While EPA continues to draft a new waters of the United States rule, the wheels of justice keep turning, as a coalition of agriculture groups took federal court action in North Dakota on Friday to try to stop the 2015 WOTUS rule from ever becoming law.

Though EPA took action in recent months to delay the implementation of the 2015 rule by two years to allow for a rewrite, a case filed in U.S. District Court for the District of North Dakota continues.

On Friday, a number of agriculture and industry groups led by the American Farm Bureau Federation filed an amicus brief in support of motions for summary judgement. Those groups include the National Pork Producers Council, the National Cattlemen’s Beef Association, the American Petroleum Institute, National Corn Growers Association and the U.S. Poultry and Egg Association, as well as other building industry groups.

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Coastal Bend Crops Critical as Drought Intensifies

While no one is throwing in the towel just yet, crop conditions across the South Texas coast are quickly declining because of drought conditions that continue to escalate as summer temperatures begin to simmer.

"This is the driest season we have seen since 2015," reports cotton and grain farmer Wayne Miller of Bluntzer, a farming community just north of Robstown. "It's really good if we can get 8-10 inches of rain between Feb. through August, but this year we are trying to hang on with just over two inches of rain [total]."

He said his crops are desperately in need of 4-5 inches of rain in the days ahead if he hopes to make a crop this year.

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White House Tries to Provide Clarity on Cloudy Trade Picture

The back and forth on trade has agriculture’s head spinning. From China to renegotiating the North American Free Trade Agreement (NAFTA), President Donald Trump’s trade agenda is full in 2018.

U.S. Department of Agriculture Secretary Sonny Perdue continues to hear concerns in the field over retaliatory tariffs and market uncertainty, but he told AgDay he’s confident agriculture will come out ahead.

“I am optimistic overall,” said Perdue. “The president’s made the decision certainly on NAFTA not to withdraw, but to negotiate separately with Canada and Mexico believing that we can get a better deal with Canada and with Mexico separately. Honestly based on some of the differences and the needs there, that's true.”

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Hemp Production Included in Farm Bill

U.S. producers interested in growing hemp could be afforded that opportunity if the latest version of the Farm Bill passes.

The revised Agriculture Improvement Act of 2018 includes measures that would see the crop removed from a federal list of controlled substances. Researchers could apply for hemp related grants and producers would also be eligible for crop insurance. The crop could be marketed as an agricultural commodity.

Senate Majority Leader Mitch McConnell, who’s home state of Kentucky allowed hemp to be grown on 12,000 acres, spearheaded the national support for hemp.

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The Appraisal Foundation Seeks Candidates for the Appraiser Qualifications Board and the Appraisal Standards Board

Application Deadline is August 17, 2018

Washington, DC-- The Appraisal Foundation has begun its annual search for qualified candidates to serve on the Appraiser Qualifications Board (AQB) and the Appraisal Standards Board (ASB).

Background and Qualifications:
The Appraiser Qualifications Board (AQB) is responsible for setting minimum education, experience, and examination qualification criteria for real estate appraisers. Also, the AQB sets the minimum requirements for real estate appraisers to maintain their state credential. The qualification criteria are the minimum criteria that real property appraisers must meet to become state licensed or certified. The AQB also sets the minimum requirements for personal property appraisers, and adherence to the personal property criteria is mandatory for Foundation Sponsors who confer personal property designations. Familiarity with appraiser qualifications is a prerequisite of service on the AQB, and a minimum of ten years of appraisal experience is required.

The Appraisal Standards Board (ASB) is charged with developing, interpreting and amending the Uniform Standards of Professional Appraisal Practice (USPAP). Familiarity with USPAP is a prerequisite of service on the ASB, and a minimum of ten years of appraisal experience is required.

The AQB and ASB have up to three face-to-face meetings per year. In-person meetings typically consist 1½-days of work sessions and a ½-day public meeting. In months when the Boards do not meet in-person, they conduct web or teleconference meetings. Individuals serving on the Boards are compensated for their time and reimbursed for travel expenses. . Those individuals selected for a position on the AQB or ASB will serve initial terms of one to three years commencing January 1, 2019.

How to Apply:
Click here to complete an online application.

Questions or More Information?

If you would like to request an application via email or if you have questions, please feel free to contact Arika Cole. When requesting information on the applications via e-mail, please use the phrase "2018 AQB/ASB APPLICATION REQUEST" in the subject line, and please include your full name, email address and phone number.
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The Appraisal Foundation Hosts National Appraisal Forum to Discuss Appraisal Waivers and Hybrid Appraisals

For Immediate Release
June 7, 2018

Washington, DC – The Appraisal Foundation today convened the largest national gathering of organizations with an interest in valuation to provide a forum on emerging appraisal issues. Representatives from the Foundation’s two advisory councils, representing approximately 100 companies, non-profit organizations, and government agencies, were in attendance to hear presentations and exchange thoughts on two high profile topics in today’s marketplace: appraisal waivers and hybrid appraisals.

The morning panel featured representatives from Fannie Mae and Freddie Mac, both of which now accept certain loans without a traditional appraisal, instead relying on automated valuation models or other valuation tools. Panelists discussed the circumstances under which appraisal waivers are allowed and the processes used to evaluate the risk associated with the underlying collateral. In addressing audience concerns about the rapid increase in appraisal waivers, panelists noted the purposeful guidelines and parameters that surround these products. Panelists also encouraged continued collaboration and input among stakeholders as the profession moves forward with modernization efforts.

The luncheon panel featured representatives from LIA Administrators & Insurance Services and Moody’s Investors Service, who focused on the impact of hybrid appraisal assignments. As appraisers are increasingly being asked to provide an opinion of value based on an inspection provided by another party, the panelists discussed the level of risk associated with these types of assignments, the lack of information available regarding those who complete the inspections, and the potential degradation of the resulting analyses. Responding to this increased risk, panelists suggested diligence on the part of appraisers and investors in monitoring any increased usage of hybrid appraisals, which are a new arrival to the market.

President of The Appraisal Foundation David S. Bunton stated, “We were extremely pleased to provide this forum as part of our mission to preserve public trust in the valuation profession. We believe this unique opportunity to hear from key stakeholders about these new developments was warmly received by the attendees.”
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