The following is a statement from American Seed Trade Association President & CEO Andrew W. LaVigne: “We’re pleased that the Trump Administration recognizes the critical importance of U.S. agriculture and the rural economy. Under the strong leadership of Secretary of Agriculture Sonny Perdue, the Agriculture and Rural Prosperity Task Force is taking positive steps to identify and address some of the …
Stable Forecast for U.S. Crop Prices Forecast
U.S. grain prices and crop demand for 2017-2018 will likely show no major changes, according to Dr. Keith Coble, former chief economist for Senate Agriculture Committee Republicans and the head of the Agricultural Economics Department at Mississippi State University. Coble spoke to workshop attendees during the American Farm Bureau Federation’s 2018 Annual Convention & IDEAg Trade Show about global crop …
Expert Says Being Proactive Key to Farm Succession
The main key to passing the family farm from one generation to the next is being proactive, according to Oklahoma State University professor, Dr. Shannon Ferrell. Ferrell is an attorney, associate professor, and agricultural law specialist at Oklahoma State University. This week he’s been the keynote speaker at a series of downstate Illinois meetings hosted by Farm Credit Illinois. Dr. …
Tax Reform Will Benefit Ag Community in Many Ways, Right Away
A U.S. representative from Washington State says the end of 2017 tax reforms will benefit agriculture immediately. Central Washington representative Dan Newhouse says there will be many benefits to the ag industry, and many, right away. Tax Newhouse added, while a few details have yet to be realized, and some of the benefits will not take place immediately, he’s confident …
Index Shows Farmer Optimism Increasing
A survey of farmers shows optimism is increasing in the Midwest farm country, despite continued low prices. The latest DTN/The Progressive Farmer Agricultural Confidence Index found increasing optimism, posting an overall score of 113, up 9 points from August and 15 points higher than the “Trump Bump” survey of a year ago. The so-called “Trump Bump” represented an increase in …
2018 Crop Prices Outlook
A University of Illinois economist expects 2018 crop prices to remain below high levels seen earlier this decade due to global inventories. Economist Todd Hubbs explains that global economic growth continues to build on the momentum seen over the last year, offering some limited upside for demand. Growth in China and emerging markets in Asia is projected to remain strong …
Another Year of Tight Budgets in Washington
2018 will be another year of tight budgets in Washington, especially after the passage of a sweeping tax overhaul bill. That will also likely mean less money to write a new farm bill. The 2014 farm bill was tough enough to write but the 2018 bill could be tougher. And it’s not just automatic budget cuts begun in 2011, but a …
Downward Pressure Expected on 2018 Cash Rents
As commodity prices fell over the past few years, many landowners across the country agreed to lower cash rents. The annual LandOwner/Pro Farmer Cash Rent and Values Survey shows a majority of the respondents expecting cash rents to continue their lower trend in 2018. LandOwner consultant and columnist Mike Walsten says the survey also shows the focus on lowering cash …
Purdue Releases 2018 Ag Economic Sector Forecasts
The Agricultural Economics Department at Purdue University released a 2018 Ag Outlook Report that contained 12 different articles looking at different aspects of the Ag economy. Just some of the aspects covered include cash rents, farmland values, and the price outlook for corn and soybeans. Professor Craig Dobbins says that reducing input costs has been a priority for farmers since …
Investment Firms Once Again Purchasing Farmland
Wall Street investment firms are once again putting money into farmland. Institutional investors are buying up farmland as farmers, who would normally be competing for the land, are hanging on to their cash. This investment money can mean different things for local ag communities. Some institutions will purchase land and lease it back to a farmer, who can then continue …