Machinery Cost Estimates for 2019
Estimated machinery costs often are used to set custom rates when one individual performs a field operation for another individual. We provide machinery cost estimates which may be useful in setting custom rates. An additional amount for profit should be added to our cost estimates, as we have not added an amount for returns.Read More Here
Women Are Big Part of AgTech Generation Innovation
It would be overly simplistic to state that this is a tough time for growers in the U.S. The number of farms and ranches continues to decline, with a growing number of farms being sold off as farmers are faced with the rising costs of doing business, weather and climate fluctuations, limited land, and water supply and the reality that future generations of youth are turning away from agriculture as livelihood. There are some 2 million farms and ranches down 3.2 percent from 2012, according to the 2017 Census of Agriculture
. Many farms, especially large ones that have depended on thousands upon thousands of farmworkers, struggle to find field workers to plant and harvest the crops especially against a backdrop of uncertain immigration policies. Add to that data that points to a world population of 10 billion by 2050.Read More Here
Appraisal Standards Board Considering Creating Standards for Evaluations
The Appraisal Standards Board (ASB), an independent board of The Appraisal Foundation, announced today that it intends to examine the concept of creating standards for evaluations, which are alternatives to appraisals used by financial institutions. Currently, there are no uniform standards for appraisers to follow when conducting an evaluation, which leads to greater risk to the safety and soundness of the real estate transaction and diminished protections for consumers. The ASB intends to issue the concept paper around Labor Day, and will follow up with a public hearing with panels of constituents on October 18, 2019 in Washington, DC. As with all public meetings of the ASB, the public hearing will be broadcast via livestream.Read More Here
Stable Farmland Values Could Support Weak Farm Economy
The farm economy remains under pressure, with several key indicators showing farmers are facing financial strain. But, a few positive factors could help stabilize or support credit conditions in the future, according to the latest survey from the Federal Reserve Bank of Kansas City.Read More Here
Which States Have the Highest Cash Rent?
For 2019, the national average for cash rents on cropland is $140 per acre, which is up $2 from 2018’s national average of $138. Read More Here
Farmers Continue to Invest in Tile Despite Tough Finances
Tile can drastically change the productivity of a field—and farmers are taking note. According to an Illinois FarmDoc report, tiled acres increased 77% in the 48 states with tiling from the 2012 Census to the 2017 Census of Agriculture.
Read More Here
FDIC to Decide on Residential Appraisal Threshold Regulation
The Federal Deposit Insurance Corporation (FDIC) Board of Directors will meet Tuesday August 20 in an open session in Washington D.C. On the agenda for a vote is the “Final Rule to Increase the Appraisal Threshold for Residential Real Estate Transactions, Implement the Rural Residential Appraisal Exemption, and Require Appropriate Appraisal Review.” The agenda item is under the list of items subject to a vote for approval but not discussion. Presumably that means no significant changes were made to the proposed rule. Recall the proposed rule would increase the residential appraisal threshold from $250,000 to $400,000. ASFMRA has joined other appraisal organizations opposing the increase in the threshold.
Crop Insurance Interest Accrual Deferred
The Risk Management Agency (RMA) announced last week that it will defer accrual of interest for all agricultural producers’ spring 2019 crop year insurance premiums to help the wide swath of farmers and ranchers affected by extreme weather in 2019. Specifically, USDA will defer the accrual of interest on spring 2019 crop year insurance premiums to the earlier of the applicable termination date or for two months, until November 30, for all policies with a premium billing date of August 15, 2019. For any premium that is not paid by one of those new deadlines, interest will accrue consistent with the terms of the policy.
Without the interest deferral, policies with an August 15 premium billing date would have interest attach starting October 1 if premiums were not paid by September 30. Now, under the change, policies that do not have the premium paid by November 30 will have interest attach on December 1, calculated from the date of the premium billing notice. The last time RMA took this action was during the drought of 2012.
Prevented Plant Acres Top 19 million
Agricultural producers reported they were not able to plant crops on more than 19.4 million acres in 2019, according to the USDA. This marks the most prevented plant acres reported since the Farm Service Agency (FSA) began releasing the report in 2007 and 17.49 million acres more than reported at this time last year. Of those prevented plant acres, more than 73 percent were in 12 Midwestern states, where heavy rainfall and flooding this year has prevented many producers from planting mostly corn, soybeans and wheat.
Earlier this summer, USDA announced a series of flexibilities to reduce stress on producers affected by weather, including: providing more time for cover crop haying and grazing by moving the start date from November 1 to September 1, 2019; allowing producers who filed prevented planting claims then planted a cover crop with a potential for harvest to receive a $15 per acre Market Facilitation Program payment; holding signups in select states for producers to receive assistance in planting cover crops; and extending the crop reporting deadline in select states. USDA also plans to provide producers with prevented planting acreage additional assistance through the Additional Supplemental Appropriations for Disaster Relief Act of 2019.
Chapter Leaders Day 2019
Representatives from 19 Chapters attended Chapter Leaders Day in Denver. The event included panel presentations and table discussions surrounding Transformational Education, Government Relations, Succession Planning, and the Next Generation of ASFMRA Members.
Leadership Institute 2019
The American Society of Farm Managers and Rural Appraisers has had a leading voice in ag policy discussions for almost two decades. Through our lobbying efforts and the Leadership Institute, ASFMRA has gained a reputation in Washington and built solid relationships with key policy makers. Some of last years speakers included: USDA Secretary of Agriculture Tom Vilsack, Dave Button with the Appraisal Foundation, Representative Mike Conaway, John Hays, Senior Vice President and Policy Analyst with Farm Credit Council and Bart Fischer, House Ag Committee Chief Economist—to name a few. Thanks to our sponsor, Pioneer we are able to bring communications and advocacy training prior to delegates individual visits with their state representatives.
Welcome New Members
Help us welcome our newest members to ASFMRA! We are thrilled that you have chosen ASFMRA as the organization to be affiliated with. Because of you, ASFMRA continues to grow and support rural property professionals across the nation!
We are recognizing new members of the Society on a monthly basis. You may recognize your colleagues in the following list and we encourage you to welcome them into ASFMRA!
Spencer Alamo with Correia-Xavier, Inc. in Fresno, CA (California Chapter)
Scott Arens with Hertz Farm Management in Norfolk, NE (Nebraska Chapter)
Matthias Fischer with Fischer Farm Management in Webb, MS (Mid-South Chapter)
Whitney Fredrickson with Northwest Farm Credit Services in Pasco, WA (Washington Chapter)
Andrew Kroeker with PBT Farm Management in McPherson, KS (Kansas Chapter)
Kaleb Lehmann with LandPlus Appraisals, LLC in Mapleton, MN (Minnesota Chapter)
Nikki Mertz in Carrington, ND (North Dakota Chapter)
Hunter Norland in Clive, IA (Iowa Chapter)
Erin Sepmoree with Heritage Land Bank in Tyler, TX (Texas Chapter)
Christopher Sims with Paul Moore Appraisal Services, LLC in Lexington, KY (Kentucky Chapter)
Chad Stavnes with Heartland Real Estate Services LLC in Lamberton, MN (Minnesota Chapter)
Make a Referral
You know first-hand what a great organization ASFMRA is and what it means to you both professionally and personally. We thank you for spreading the word, you are the driving force behind our continued growth! Talk to those you know who would benefit from ASFMRA’s educational offerings, networking, and meetings. Let them know your experiences of being involved in this great association and some of the business contacts you have made along with lasting friendships. Your peers listed below have done just that! They spoke to individuals about ASFMRA and those individuals have now become members of ASFMRA!
Paul Moore, ARA, RPRA
Kyle Walker, AFM, AAC
Thank you to all who have referred someone and in some cases, more than one, to join ASFMRA.