Blogs

ASFMRA Blog - Management and Real Estate Balance

By ASFMRA Press posted 3 days ago
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For decades, farm management companies across the United States have also served as real estate brokers. Our firm started offering real estate brokerage services all the way back in the 1950’s. Today, the largest farm management companies have very significant real estate brokerage operations. How do these firms balance the workflow and focus? After all, these services compete for a staff member’s time and focus, and there exists some potential for conflict of interest. For the rest of this blog post by Howard Halderman, AFM, click here
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ASFMRA AgNews - December 10, 2019

By ASFMRA Press posted 7 days ago
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Farmland Rents Stay Up Despite Low Crop Prices With another harvest behind them, farmers are beginning to sit down with their landlords to look at farm land rental contracts for the year ahead. In most cases, it’s the landlords who hold the cards. “Based on commodity prices, yields and input costs, rents should be about $100 an acre,” said University of Minnesota Extension Educators David Bau. “But (rents) are about double that or more.” Read the Full Story No End In Sight For Midwest Farmers' Financial Woes Agricultural bankers are predicting continued financial trouble for farmers in Illinois and across the Midwest. Data from the Federal Reserve ...
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2019 ASFMRA Awards Announced

By ASFMRA Press posted 16 days ago
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FOR IMMEDIATE RELEASE Contact: Alex Clark Tel. 303.692.1227 Email: aclark@asfmra.org Rural Property Professionals Receive Recognition Awards Given at 2019 ASFMRA Annual Conference in Louisville November 26, 2019   Glendale, Colo – The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) honored dozens of rural appraisers, farm managers and consultants at the 2019 ASFMRA Annual Conference on November 20, 2019, in Louisville, Ky.   At the Accreditation and Awards Ceremony, sponsored by Hertz Farm Management, it was announced that 24 ASFMRA members received their Accredited Farm Management (AFM) designation, while an ...
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ASFMRA AgNews - November 26, 2019

By ASFMRA Press posted 19 days ago
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The Next Generation of Farmland Prices Farmland represents over 81% of farm sector assets and values stayed relatively static through the first half of 2019. Farmland values are impacted by a myriad of factors beyond just demand and the overall agriculture economy. David Klein, First Mid Ag Services vice president, managing broker and auctioneer, provided the seven issues affecting farmland values during First Mid Ag Services Field Day. Read the Full Story. Farm Succession Strategies: 8 Ways to Communicate Successfully The struggling farm economy means that farm transfers from one generation to the next may be happening in a sped-up process, ...
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ASFMRA AgNews - November 12, 2019

By ASFMRA Press posted 11-07-2019
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Land's Linchpin: Amid Low Inventory, Little Interest to Sell A 67-acre tract of farmland in Sioux County, Iowa, brought $18,300 per acre at auction earlier this month. In September, Hertz Farm Management had 10 sales at $10,000 or more per acre and eight sales above $11,000 per acre for corn and soybean ground, CEO Randy Hertz told DTN. These sales may be isolated cases in today's market, but the trend of steady-to-slightly higher land values is not. Farmland brokers report sales around the Midwest continue to attract strong buying interest, primarily from farmers. Read the Full Story Area Ag Bankers See a Rocky Economic Outlook An informal survey ...
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ASFMRA AgNews - October 29, 2019

By ASFMRA Press posted 10-24-2019
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Agriculture Funds Aim to Harvest Profit, Along With Corn and Wheat Two realities undergird the investment case for agriculture: The world’s population keeps swelling and everyone must eat. A third reality — climate change — will make satisfying those billions of appetites harder and companies that can help farmers potentially more valuable. Agriculture isn’t a standard investment sector in the way that, say, financial stocks are, and definitions of it vary, including things ranging from the obvious, like the American equipment-maker Deere & Company, to the offbeat, like Leroy Seafood, the Norwegian fish farmer. Read the Full Story. Fintech ...
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Member Spotlight: Mark A. Keller, ASA, SR/WA, CCIM

By ASFMRA Press posted 10-16-2019
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Name: Mark A. Keller, ASA, SR/WA, CCIM  Chapter:   AZ ASFMRA Member Since:   2002 Current Employer: Salt River Project When did you begin your career in agriculture? Why? As the new real property appraiser at Salt River Project in 2001, the Phoenix Metropolitan area was rapidly expanding into the West Valley and also into northern Pinal County. Salt River Project was projecting substantial facilities needs in terms of infrastructure and right of way. At that time, huge tracts of agricultural and desert land were available and I needed a professional organization of appraisers to provide agricultural valuation and expertise, so I became ...
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ASFMRA AgNews - October 15, 2019

By ASFMRA Press posted 10-10-2019
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Snow, Freezing Temperatures Threaten Northern U.S. Corn, Soybeans Plunging temperatures and heavy snow forecast for the upper U.S. Plains from Friday to Sunday are likely to damage unharvested corn and soybean crops in parts of North Dakota, South Dakota, Minnesota, Nebraska, and Iowa, meteorologists said on Wednesday. The winter-like blast could dump up to 3 feet of snow in central and eastern North Dakota and send temperatures plunging into the 20s Fahrenheit in Nebraska, western Iowa, southwest Minnesota, and the Dakotas, said Kyle Tapley, senior agricultural meteorologist with space technology company Maxar. Read the Full Story. The Big Players ...
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ASFMRA AgNews - October 1, 2019

By ASFMRA Press posted 09-26-2019
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Struggling Farmers See Bright Spot in Solar U.S. farmers are embracing an alternative means of turning sunlight into revenue during a sharp downturn in crop prices: solar power. Solar panels are being installed across the Farm Belt for personal and external use on land where growers are struggling to make ends meet. The tit-for-tat tariffs applied by the U.S. and China to each other’s goods have cut demand for American crops. Futures prices for corn, soybeans and wheat are all trading around their lowest levels since 2010. Making matters worse, record spring rainfall left many farmers no time to plant a decent crop. Read the Full Story. Why ...
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ASFMRA AgNews - September 17, 2019

By ASFMRA Press posted 09-16-2019
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How a Manhattan Scion Built a Rural Empire Stefan Soloviev is in his “western office”—the passenger seat of a Chevy Silverado bouncing along a dirt road near the Kansas-Colorado border, his farm manager at the wheel. It’s a far cry from his desk on the 45th floor of 9 W. 57th St. in Manhattan, a skyscraper famed for its Central Park views, private equity tenants and irascible owner—Soloviev’s 91-year-old father, billionaire developer   Sheldon Solow . Out here, the son is the empire builder. In ball cap and T-shirt, flexing elaborately tattooed arms, he works the phone as the four-ton truck kicks up a dust cloud between the wheat fields. His wheat ...
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Member Spotlight: Norm Edwards, ARA

By ASFMRA Press posted 09-12-2019
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Name: Norm Edwards, ARA Chapter: AZ and SD ASFMRA Member Since: 1973 Current Employer:  Self Employed Currently Retired State and Federal Governmental Appraiser When did you begin your career in agriculture? Why? I grew up on a ranch in the Black Hills of South Dakota and Wyoming. I was exposed to a more diversified farm and ranch eco-system when I studied Agricultural Economic and received my B.S. from South Dakota State University. I applied for a position for the State of South Dakota and began my career in Appraising. I almost immediately found the challenges in evaluating properties and justifying the value of interest in the properties ...
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ASFMRA AgNews - September 3, 2019

By ASFMRA Press posted 09-03-2019
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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 ...
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ASFMRA AgNews - August 20, 2019

By ASFMRA Press posted 08-19-2019
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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 ...
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USDA Publishes 2019 Land Value Averages

By ASFMRA Press posted 08-13-2019
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The United States Department of Agriculture and the National Agriculture Statistics Service published its 2019 state-by-state and national averages for the value of farmland, cropland and pasture. You can  view its entire report here
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ASFMRA AgNews - August 8, 2019

By ASFMRA Press posted 08-08-2019
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9 Things Every Landowner Must Do Before Renting Land It’s almost time for farmers and landlords to begin negotiating their leases for the 2020 growing season. With 40% of U.S. farmland rented, this market is worth $32 billion. As you begin to consider the next growing season, you have the opportunity to make adjustments and gain new insight into the health of your land. To help you make the most of this time leading up to farmland lease termination dates, here are nine things you need to address ahead of the 2020 growing season: Read More Here. California Farmers are Planting Solar Panels as Water Supplies Dry Up Jon Reiter banked the four-seat ...
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ASFMRA AgNews - July 30, 2019

By ASFMRA Press posted 07-29-2019
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Report Shows 2019 Crop Continues to Lag Cooperative fall weather is always important to Upper Midwest farmers. It will be especially important this year, with most area crops still far behind their normal development. The weekly crop progress report, released July 22 by the National Agricultural Statistics Service, an arm of the U.S. Department of Agriculture, found that the maturity of area crops, especially corn and soybeans, continues to lag their five-year averages. Will Lag Continue? China To Allow Some Buys of U.S. Corn, Cotton and Pork Tariff-Free Bloomberg reports the Chinese government has approved several of its companies to buy U.S. corn, ...
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ASFMRA AgNews - July 24, 2019

By ASFMRA Press posted 07-23-2019
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USMCA Advocacy If you’re interested in contacting your representatives in the House of Representatives and Senate regarding the impact on agriculture of the United States-Mexico-Canada Agreement (USMCA), you may wish to use   this template  endorsing its ratification.   No matter your position, you can find contact information for your House representative  here , and for your state’s Senators  here . Selling Land to Reduce Debt? Consider an Opportunity Zone Fund For years, farmers have used the tax strategy of Section 1031 Tax-Deferred Exchanges (also known as like-kind exchanges). It can be a great option to defer the gain on the ...
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ASFMRA AgNews - July 18, 2019

By ASFMRA Press posted 07-18-2019
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USDA Crop Progress Report Grades Corn Condition Slightly Better The U.S. corn and soybean crops made slight improvements vs. a week ago, but remain behind five-year averages for silking and emergence, according to the USDA’s weekly Crop Progress Report released Monday. The overall condition of the corn crop is rated at 58% good to excellent in the top 18 corn producing states, compared with 57% a week ago. USDA pegged just 17% of the corn crop was in the silk stage, compared with a 42% five-year average. As of Sunday, Illinois had just 19% of its corn crop in the silk growth stage, Indiana 10% and Iowa 8%. 110˚F Weather To Take Toll on Late-Planted ...
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ASFMRA AgNews - July 9, 2019

By ASFMRA Press posted 07-09-2019
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Perspectives on Corn Belt Farmland Values An update last month from Iowa State University (ISU) Extension’s Wendong Zhang and Steven Johnson (“Agricultural professionals expect lower land values and stable crop prices“) stated that, “Over 270 agricultural professionals attended the 2019 ISU Soil Management Land Valuation (SMLV) Conference this past May…Over 150 participants provided their estimates of future land values as well as future cash corn and soybean prices in their primary county in Iowa via an online Qualtrics survey. Where Will Values Go? On the Edge: Farmland Values Treading Water The future of the farmland market continues to be ...
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ASFMRA AgNews - July 2, 2019

By ASFMRA Press posted 07-02-2019
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Corn Acres May Not Fall As Much As Forecast USDA's last Crop Progress report shows 92% of corn is now planted and 77% of soybeans. Farmers from across the midwest are weighing in on those numbers asking what 92% really means. During an interview with AgDay's Clinton Griffiths, Sam Hudson of Cornbelt Marketing stressing that planted acres are an unknown. "Well until we see an actual printed number from USDA you almost have to focus on just the production potential in general," says Hudson. "As opposed to [here's] what I think acres are and that's where I think yield could be." What Will Happen to Corn Acres? Arlan Suderman: USDA Should Have Never ...
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