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ASFMRA Ag News - October 26, 2021

By ASFMRA Press posted yesterday
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U.S. Farm Belt Revival Prompts Mad Dash for ‘Dirt and Iron’ Wall Street Journal writers Jesse Newman and Bob Tita reported in Monday’s paper that, “A revival in the U.S. Farm Belt is in full swing, boosting markets for land and equipment and raising concerns over farmers’ escalating costs. “A monthslong rally in prices for major agricultural commodities such as corn and soybeans is pushing up incomes for U.S. farmers and unleashing spending and investment that had been subdued for years, according to agricultural economists and executives. The run-up in land and equipment prices that has followed could leave farmers exposed if big harvests send crop prices ...
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ASFMRA Ag News - October 12, 2021

By ASFMRA Press posted 15 days ago
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Analysis-'It's a Madhouse': Organic U.S. Soy Prices Hit Record, Fuel Food Inflation U.S. prices for organic soybeans used to feed livestock and manufacture soy milk have surged to record highs as imports that make up most of the country’s supply have declined, triggering price increases for food including organically raised chicken. The costly soybeans and higher-priced organic products are fueling food inflation at a time consumers are eager to eat better and focus on health during the COVID-19 pandemic. The $56 billion U.S. organic food sector is also grappling with a shortage of shipping containers and a tight labor market as global food prices hit a 10-year ...
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Sewer Versus Septic: Lesson Learned

By ASFMRA Press posted 20 days ago
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By Claudia Gaglione, National Claims Counsel for LIA Administrators & Insurance Services One of the most common claims made against appraisers continues to be the “sewer versus septic” claim. This claim arises when the appraisal states the subject property is connected to the public sewer and it is later discovered that the property is actually serviced by a private septic system. The borrower/purchaser may allege they paid too much for the property or they may simply seek to recoup the cost to connect to the public sewer. In a recent claim, the insured appraised a property that consisted of a single-family residence located on about 3 acres. There was ...
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ASFMRA Ag News - September 28, 2021

By ASFMRA Press posted 28 days ago
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U.S. Farm Belt Revival Prompts Mad Dash for ‘Dirt and Iron’ Wall Street Journal writers Jesse Newman and Bob Tita reported in Monday’s paper that, “A revival in the U.S. Farm Belt is in full swing, boosting markets for land and equipment and raising concerns over farmers’ escalating costs. “A monthslong rally in prices for major agricultural commodities such as corn and soybeans is pushing up incomes for U.S. farmers and unleashing spending and investment that had been subdued for years, according to agricultural economists and executives. The run-up in land and equipment prices that has followed could leave farmers exposed if big harvests send crop prices ...
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ASFMRA Ag News - September 14, 2021

By ASFMRA Press posted 09-14-2021
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John Wayne’s Ranch From ‘True Grit’ Lists for $11 Million In Colorado. It was one of his most iconic roles and also earned John Wayne the only Academy Award of his legendary career. “True Grit” was a colorful western that starred the icon known as The Duke, as Roster Cogburn, an old U.S. Marshal who is hired to track down the murderer of the father of a spit-fire daughter (Kim Darby). Die-hard fans will recognize the ranch now listed for $10.9 million in Placerville, Colorado from the opening credits of the classic. “The 374-acre property offers stunning views of the San Juan Mountains and sizable populations of elk and mule deer — all unmolested since the ...
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ASFMRA Ag News - August 31, 2021

By ASFMRA Press posted 08-30-2021
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Once, Twice, Sold! 80 Acres in Iowa Sold for $22,600 Per Acre, Sets New State Record The bull-run on Iowa farmland sales continues to play out in August. Less than two weeks after a piece of farm ground in Iowa sold for $19,000 per acre, a new record sale was posted in Iowa Friday, cashing in at $22,600 per acre. That tops the previous record by $300 per acre. The sale was on 80 acres of ground in Grundy County, Iowa, which is located west of Waterloo. “The farm did have a wind turbine on it,” says Jim Rothermich, ARA, of Iowa Appraisal and Research. “The buyer was an investor-buyer, and the runner-up was also an investor. So, the wind turbine income stream ...
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Member Spotlight: Emily Oberbroeckling

By ASFMRA Press posted 08-26-2021
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For this member spotlight, we're sharing a highlight on Emily Oberbroeckling from the Iowa Chapter of the ASFMRA. Emily serves as a Chapter Director and head of the YPN Committee in Iowa. Describe your experience and education related to the property professional field. I graduated from University of Wisconsin- Platteville with a B.S. in Agricultural Business in 2009. I started my career as a lender at a community bank in Northeast Iowa. In 2012, a Real Estate and Chattel appraiser position opened with FCSA in Decorah, Iowa and I took the career leap into the appraisal world. I took appraisal classes through ASFMRA, Appraisal Institute and McKissock and received ...
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ASFMRA Ag News - August 17, 2021

By ASFMRA Press posted 08-16-2021
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In This Issue Upcoming Webinars: Crop Conditions | Financial Markets | PAREA Education South Dakota Land and Lending Conference Apply for The Appraisal Foundation's Appraisal Standards Board, Appraisal Qualifications Board , and Business Valuation Resource Panel Agricultural Real Estate Values Jump 7%, Largest Increase Since 2012 The Land Values 2021 Summary report, released last Friday by USDA’s National Agricultural Statistics Service, shows agricultural land values increasing at a rate not seen in nearly a decade. This report and its contents provide one of many indicators of the overall health of the agricultural economy and ...
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ASFMRA Ag News - August 3, 2021

By ASFMRA Press posted 08-02-2021
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In This Issue 2021 Journal of the ASFMRA Are You Getting the Most Use Out of Your Drone? FREE: ASFMRA June Crop Development Update Dominican Republic to Kill Thousands of Pigs Over Swine Fever Outbreak The Dominican Republic will slaughter tens of thousands of pigs after detecting outbreaks of African swine fever in 11 of the country's 32 provinces, authorities said on Monday. Fernando Duran, administrator of the state-run Banco Agricola, told a news conference the government will pay pig farmers the market price of each animal slaughtered. Announcement of the slaughter comes after authorities sent 389 samples from pig farms across ...
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ASFMRA Ag News - July 20, 2021

By ASFMRA Press posted 07-19-2021
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In This Issue Leadership Institute 2021: Reserve Your Spot Today ASFMRA Pollination and Prospects Update (Free for Members) Member Resource: NCREIF Farmland Property Index Connecting Ranchers with Land Stewards Could Be Key to Less Disastrous Wildfires As you read this, there are about 150 goats grazing their way through the grass and woodland areas surrounding Fitch Mountain, a local open space preserve in Healdsburg, California, an hour north of San Francisco. The goats will be there for the next few months, eating down the grasses and shrubs that would act as fuel for wildfires across 90 acres. In a historically dry year, when nearly ...
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ASFMRA Ag News - July 6, 2021

By ASFMRA Press posted 07-05-2021
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In This Issue Land Loans, Equity Crowdfunding, And Beyond: Know Your Farm Financing Options Submit Your National Awards Nominations (July 15 Deadline) [Apply Here] The Appraisal Foundation Seeks Candidates for Appraisal Standards Board Group with Ties to Mormon Church Outbids Bill Gates’ Group for Easterday Land An investment company with ties to the Mormon church has the high bid for land that belonged to the now bankrupt Easterday Farms and Easterday Ranches. A company called Farmland Reserve submitted a bid of $209 million dollars for more than 33,000 acres of land in Benton County, Washington. The second highest bid came from a group ...
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Land Loans, Equity Crowdfunding, and Beyond: Know Your Farm Financing Options

By ASFMRA Press posted 07-01-2021
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Farmers know it well: in order to make money, you have to spend money. When you’re looking to buy a farm, expand your farming business, or improve a piece of farmland, the first thing you need is some capital to make it happen. There are myriad options for financing land purchases or farm business expansion, including a few that are less conventional but just as effective. This article reviews some of the most common routes to accessing farm capital and introduces some debt-free alternatives that you may not be aware of yet—but are helping farmers across the U.S. accomplish their business goals right now. FINANCING FARM EXPANSION WITH DEBT Broadly speaking, ...
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ASFMRA Ag News - June 8, 2021

By ASFMRA Press posted 06-07-2021
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In This Issue 2021 Journal of the ASFMRA Are You Getting the Most Use Out of Your Drone? FREE: ASFMRA June Crop Development Update Cyberattack on Meat Giant Has Iowans Looking to Fortify Defenses A ransomware attack on the world’s largest meatpacking company this week drew attention to the need for more cybersecurity in agriculture. JBS plants across the United States, including two in Iowa, had moved toward reopening at full capacity late Wednesday after a cyberattack on servers. The White House said a Russian crime organization is likely to blame. Pat McGonegle, CEO of the Iowa Pork Producers Association, said the JBS incident showed ...
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Are You Getting Full Use Out of Your Drone?

By ASFMRA Press posted 06-07-2021
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When drones began emerging into mainstream commercial use, it seemed like the sky was the limit for how this technology would impact farm management and farmland appraisal. But now that outlooks have become a bit more grounded, how are these professions actually making use of drones today? For appraisers, the obvious advantage of using a drone is gaining an aerial perspective that allows you to view a property from different angles and inspect areas that would normally be difficult to access. "The primary purpose was getting a better view of the things we’re trying to evaluate,” said Dave Cullins, Senior Vice President of Administration for AgTexas Farm ...
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Where's the Water?

By ASFMRA Press posted 05-25-2021
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by Claudia Gaglione, Esq. In the past few years, we have seen numerous claims alleging that the rural property appraiser failed to adequately identify or report details surrounding a water source. In one claim, the report said the property was serviced by “public water”. While public water lines ran adjacent to the property, they were not connected. The property actually was getting water from a small private well. A similar situation arose when an appraisal reported the water source to be a “water co-op”. It was later discovered that the property was not connected to the co-op lines and was also serviced by a private well. In another claim, the report stated ...
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ASFMRA Ag News - May 24, 2021

By ASFMRA Press posted 05-23-2021
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In This Issue Save the Date: Annual Conference MapRight: Showing the Past, Present, and Future ASFMRA Committee Applications Drought Forces California’s Farmers to Make Hard Choices In wetter times, these feathery beds of asparagus would produce generations of tender green spears, reaching for the vast San Joaquin Valley sky. On Monday they were disked into the dry dirt, their long lives cut short by unreliable and expensive water. “It’s a really sad day,” said Fresno County’s Joe Del Bosque, who has destroyed 100 acres of organic asparagus so he can divert precious water to more valuable melons. “The water is so uncertain this year. ...
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Your Land Plotting App: Showing the Past, Present and Future

By ASFMRA Press posted 05-20-2021
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In real estate, it’s all about the land. Its history, its current state of existence and its potential moving forward. The trick for real estate professionals is properly conveying all of this to prospective buyers in a manner that is both persuasive and easy to understand. In recent years, they’ve begun to look at how a GIS land plotting app can be used to enhance both the educational and marketing aspects of buying and selling properties. With the right software, you’re able to visualize a parcel of land in all states of its evolution: past, present and future. Here’s how: The Past: Deed Plotting A deed is a legal document transferring ownership rights ...
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ASFMRA Ag News - May 10, 2021

By ASFMRA Press posted 05-10-2021
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In This Issue Education Week: Continuing Education FREE: Planting Conditions Report FREE: Tax Proposals Webinar Member Spotlight: Jeral Gross Farmers Worried By Possible New Capital Gains, Estate Tax Liability Very few farm families pay estate taxes but almost all large-scale farmers are worried that changes in the tax code will increase their exposure to capital gains or estate taxes, said a Purdue University survey released on Tuesday. The poll was conducted before the White House said nearly all inherited farms would be exempt from the proposed tax changes. Some 95% of producers taking part in the Purdue survey said they were ...
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Member Spotlight: Jeral Gross

By ASFMRA Press posted 05-06-2021
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Here's another great Member Spotlight coming from the South Dakota Chapter, this time on Jeral Gross. Jeral is based out of Mitchell, South Dakota, and is focused on growing his appraisal practice, Appraisal Associates, Inc. Describe your experience and education related to the property professional field. I grew up on a family farm near Bridgewater, SD, where we raised corn, soybeans, and wheat. We also maintained a cow/calf operation. Through this experience, I knew I wanted to do something in agriculture. After graduating from Augustana College with a BA degree in Business Administration, I worked for two lending institutions: Community First (now Bank ...
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ASFMRA Ag News - April 26, 2021

By ASFMRA Press posted 04-25-2021
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In This Issue Education Week New On Demand Courses Appraiser Profession Diversity Study Facing the Ongoing Challenge of Ag Land Acquisition While most people who grew up on a farm are thankful for the experience, fewer and fewer people have had the opportunity over time. As Steve Bohr notes, it begs the question: Why would you ever stop farming? "Ultimately," Bohr says, "death is what forces us to transition." Bohr, a financial adviser and co-owner of Farm Financial Strategies Inc., discussed land transition and maintaining farm legacies at a recent spring seminar held by the Iowa chapters of the American Society of Farm Managers and ...
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