Protecting Farmers in the Path of Hurricane Dorian
When major disasters strike, USDA has an emergency loan program that provides eligible farmers low-interest loans to help them recover from production and physical losses. USDA also offers additional programs tailored to the needs of specific agricultural sectors to help producers weather the financial impacts of major disasters and rebuild their operations.
Read the Full Story.
FDIC Approves Increase in Residential Appraisal Threshold
The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved the final rule titled “Increase the Appraisal Threshold for Residential Real Estate Transactions, Implement the Rural Residential Appraisal Exemption, and Require Appropriate Appraisal Review.” At this point, the Federal Reserve and Office of the Comptroller of the Currency have not taken action to approve the rule, but it is expected they will do so in the near future. Once the final rule is approved by all three regulators, it will be published in the Federal Register.
Recall the proposed rule, published in December of 2018, would increase the residential appraisal threshold from $250,000 to $400,000. ASFMRA has joined other appraisal organizations opposing the increase in the threshold.
Farm Service Agency Publishes Rule Implementing ARC & PLC Farm Bill Changes
The Farm Service Agency (FSA) published the rule implementing the 2018 farm bill changes to the ARC and PLC programs this week. Changes being made by this rule to implement the 2018 Farm Bill provisions include:
- Permit revised program elections of ARC or PLC in each of the 2019, 2021, 2022, and 2023 crop years;
- Establish separate irrigated and non-irrigated ARC–CO county yields;
- Calculate ARC–CO payments based on the physical location of base acres on the farm;
- Increase the percentage of a county’s transitional yield (T-yield) that will be used in determining the benchmark yield;
- Provide for trend adjustment ARC– CO yields similar to how yield adjustment is done for crop insurance;
- Specify that Risk Management Agency (RMA) yields will have priority in determining ARC–CO yields;
- Provide for the division of as many as 25 counties each into two administrative units when county size and base acre limitations are reached and where FSA determines it appropriate to have administrative units;
- Provide producers with the option of entering into multiple-year ARC and PLC contracts;
- Specify that if fruits and vegetables are planted on a covered commodity’s base acres that are on payment acres there will be a corresponding payment reduction for those, but that those payment reduced covered commodity base acres will be considered planted to the covered commodity that was the subject of the reduction;
- Amend the more than 10-base acres on a farm provision to continue the prohibition of payment eligibility of producers on that farm unless the sum of the base acres on the farm, when combined with the base acres of other farms in which the producer has an interest, is more than 10 acres;
- Expand those producers not subject to the more than 10-base acre provision to include beginning farmers or ranchers, veteran farmers or ranchers, or limited resource farmers or ranchers.
You can read the full rule
here.
Register Now for The Appraisal Foundation's Webinars
Take this opportunity to register for the webinars that can take your education to the next level!
Register Today for Your Next Webinar.
Farmers to Collect Largest Federal Payment in 14 Years
Farmers and ranchers will receive a projected $10.7 billion in Trump tariff payments this year, the major reason that direct federal payments will amount to 22 percent of net farm income, say USDA economists. The trade war payments would be twice as large as last year’s $5.1 billion, when the administration created the stop-gap Market Facilitation Program to mitigate the impact of the Sino-U.S. trade war on the agricultural sector.
The USDA estimated net farm income, a measure of profits, at $88 billion this year, up by 5 percent from $84 billion in 2018. Income in both years would be much higher than initially thought, due to large farm program payments and to aggressive cost-cutting by producers. This year’s farm program payments would be the largest since $24.4 billion in 2005. The commodity boom that began in 2006 reduced federal payments to around $11 billion annually.
Read the Full Story.
Pro Farmer National Corn, Soybean Yield Estimate Below USDA Forecast
Thousands of farmers, agribusiness executives and national and local media attended a series of meetings across the Midwest this week as part of the annual Pro Farmer Midwest Crop Tour. The Crop Tour focused on crop conditions going into the final stretch of the 2019 growing season.
Pro Farmer, a division of Farm Journal, shared its much-anticipated production estimates for the 2019 U.S. corn and soybean crops after analyzing information from the 27th annual tour and other sources.
The Pro Farmer Midwest Crop Tour unveiled the stresses the corn and soybean crops faced following an excessively wet spring and record-slow planting pace this year. Scouts on Crop Tour sampled around 3,000 fields across the Corn Belt in seven of the nation’s most important corn and soybean states.
Read the Full Story.
Five Guys: SoCal Farms Goes Big On CBD Hemp
All in on hemp. Ear to the ground in 2011, Don Collins prepared for change as he listened to rumblings of the first genuinely new crop of his 45-year career, eventually handpicking a farming team to move into place when the legal barriers to hemp production toppled. Enter SoCal Farms and a five-man squad with all eyes on a hemp prize: 300 acres for cannabidiol (CBD) in 2019, with plans for 1,000 acres by 2020, 2,000 acres by 2021, and far more beyond. The future of agriculture, according to Collins, is stamped by hemp’s footprint. “In less than 20 years, I believe hemp will be established as a top five crop, and it’s going to be a way to help save the family farm.”
Against the backdrop of a blistering global hemp market on pace to hit $5.67 billion by 2020, and further clip $14.67 billion by 2026, SoCal Farms is a vertical operation handling cultivation, processing and distribution—production from seed to checkered flag. Helmed by Collins as president, SoCal intends to provide a year-round supply of CBD to buyers at large quantity.
Read the Full Story.
The Indoor Farmer
Jonathan Webb’s farm doesn’t look like much: tawny soil stretching to a line of trees, a trailer with a few makeshift desks. But if Mr. Webb gets his way, by mid-2020, the Morehead, Ky., property will house a 60-acre greenhouse—the first in a series of multi-acre, technology-augmented indoor farms meant to bring jobs to Appalachia and fresh-picked tomatoes to surrounding states.
“If we had 500 acres of supply tomorrow, we could sell all of that supply to U.S. grocers,” said Mr. Webb, 34, who wears a uniform of dark jeans, a light denim shirt, round glasses and a Kentucky ball cap. “We cannot build fast enough or grow fast enough to meet the demand of grocers or consumers.”
Read the Full Story.
Support The Education Foundation
The annual Education Foundation Auction is the main fundraiser for the rewrites of courses, etc. Funds raised at the annual Auction go directly to the Education Foundation. Help to make this year’s Education Foundation Auction even better! Make your tax deductible donation to the Auction now by simply completing the Auction Donation Form. Return the completed form directly to Hope Evans via email at: hevans@asfmra.org.
Come join us on November 21, 2019 in Louisville, KY at the Omni Louisville Hotel for the Auction. Show your support and your Chapter’s support of the Education Foundation and make your donations now. Remember, no item is too small or too large. Unique items from your area are always wanted. Here are some of the items that we have received as of this time:
- The Indiana Chapter has donated 2020 Indianapolis 500 Mile Race Tickets. This is two (2) tickets for the 2020 Indianapolis 500 Mile Race weekend which includes two race day tickets located in the paddock grandstand, two tickets for admission to Miller Lite Carb Day, two tickets for Legends Day, two tickets for admission to the garage area immediately following completion of the race, and a three day auto parking permit. You do not want to miss your opportunity to bid on this amazing racing package.
- Paul E. Moore, ARA, RPRA has donated a stay at his and Beth’s Vacation Home situated on the banks of beautiful Lake Cumberland. This is for an amazing vacation for a maximum of six days and five nights to Paul and Beth Moore’s vacation home which has three levels with a balcony on each level! There are four bedrooms, three full baths, full kitchen, living room, recreation room with pool table, outdoor hot tub, and much more. What more could you ask for when you take a vacation? You do not want to pass this opportunity up for bidding on this great trip!
- The Missouri Chapter has donated a Stetson 30X Hat. Crafted in the original Gateway to the West from the Stetson factory in St. Joseph, MO. This 30X felt hat will set you off in style! You get to pick your size and color. Make sure you get your bid it on this early as you do not want to miss out on showing off what great taste you have!
- Richard and Conni Edmunds have donated a Niagara Falls Trip! This is truly a must vacation trip that you really need to take at least once. You will not be disappointed. This is a weekend trip to tour local area, Niagara Falls, attractions, Amish stores, and so much more! Make sure to bid and bid often on this amazing trip!
- Glaub Farm Management, LLC has donated an educational offering in memory of Henry A. Long, Jr. If you are interested in increasing your knowledge and/or professional skill set, make sure you get your bid in on this educational offering of your choice. This donation is made in memory of Henry A. Long, Jr. who was fundamental in the educational offerings of ASFMRA.
- Peoples Company has donated two (2) registrations for the 2020 Land Investment Expo. You will want to make sure to get your bid in on this item and attend this premier ag-related event.
- Paul and Nancy Reisch have donated a Crown Royal Quilt. This is a lap quilt that measures approximately 59” x 72”. The quilt is made from Crown Royal bag emblems. Nancy Reisch made the quilt. You will certainly want to be the high bidder on this and stay warm all year round!
Be part of this fun event and mark your calendar now – November 21, 2019 in Louisville, Kentucky. Plans are moving forward and we need you to make the Auction a success again this year! We need your donations. The Education Foundation Auction’s success depends on you – ASFMRA members, Chapters, sponsors, exhibitors, companies, and nonmember supporters.
Make your commitment for Auction items by October 22, 2019. Auction items should be shipped directly to the Omni Louisville Hotel to arrive no later than Tuesday, November 19, 2019. Please do not send your Auction items to arrive at the hotel more than three (3) days in advance – not to arrive before November 18, 2019 – due to the cost the hotel charges for storage.
If you have any questions concerning donations, contact Hope Evans directly at: 303.692.1216 or hevans@asfmra.org. THANK YOU for your generous donations and continued support.
A Look at Prevent Plant From Above
Illinois and Iowa always run neck and neck when it comes to state average yields. This year, the biggest difference is in prevent plant. Illinois had more than 1.5 million acres left unplanted. Iowa had 463,000. AgDay videographer Russ Hnatusko recently took to the skies about Illinois for a bird's eye view.
Watch the Video.