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AgClips

  • Agricultural damage from Hurricane Michael forecast to top $1.3 billion, led by cotton and pecans | CNBC

    Agricultural damage from Hurricane Michael's rampage last week across Georgia, Alabama and Florida is forecast to top $1.3 billion, with pecan and cotton farms the hardest hit as well as the region's poultry operations, according to officials. "Hurricane and cotton is like oil and water — it just doesn't mix at all," said William Birdsong, an agronomist with the Alabama Cooperative Extension System and Auburn University in Headland. He estimated the loss to Alabama cotton crops could total just over $100 million and said the price of cotton could increase given damage also is in nearby production centers, including Georgia.In Georgia alone, the latest farm-related damage estimate from the storm is $1.2 billion, and in Florida another $100 million to $200 million, according to agricultural economist Jeffrey Dorfman at the University of Georgia in Athens, who calculated damage in the region. This marked the third straight year that Georgia pecan growers have suffered from damage due to hurricanes.

    Post date: Tue, 10/16/2018 - 16:19
  • Study shows impact of tariffs on farmers | High Plains Journal

    Tariffs are an ongoing concern for farmers as harvest is delayed due to wet conditions in many areas of the Midwest. Even with the trade deals made with Mexico and Canada, concerns continue. A new study led by John Crespi, interim director at the Center for Agricultural and Rural Development at Iowa State University, shows the impact of trade disruptions due to tariffs estimates losses to Iowa’s gross state product in the range of $1 billion to $2 billion.“The farm crisis of the 1980s, of course, was much worse because it also came at a time of very high interest rates and record farm debt,” Crespi said. “An interesting déjá vu with the farm crisis of the 1980s is that much of the impact was linked to policies out of Washington.”The CARD study calculates Iowa’s soybean industry facing losses between $159 million and $891 million. Iowa’s corn industry may lose between $90 million and $579 million. Losses in the hog industry could be $558 million to $955 million. Ethanol production is estimated to lose $150 million.

    Post date: Tue, 10/16/2018 - 16:18
  • Expanding ethanol sales would have limited U.S. market impact: analysts | Reuters

    The Trump administration’s plan to allow year-round sales of higher-grade corn ethanol would have limited impact on the depressed U.S. ethanol market, with record supplies and prices for the fuel hovering near the lowest in a decade, analysts said. Oil refiners are opposed to the move and have vowed to sue, arguing that only Congress can lift the ban.Even if the plan moves forward by next summer and hundreds of mostly small and rural gasoline station chains install new dispensers to sell E15, overall sales likely would increase only slightly.There are more than 1,300 stations with pumps that can dispense E15, according to the Renewable Fuels Association trade group. That is a small portion of the estimated 122,000 stations in the country, according to the National Association of Convenience Stores.RFA said the number of stations offering E15 could double to around 2,700 by late 2019 to early 2020, or 2.2 percent of the total.

    Post date: Tue, 10/16/2018 - 16:17
  • Drug addiction tops list of rural concerns | The Daily Yonder

    A quarter of rural Americans say that drug addiction is the biggest problem their communities face, according to a new poll of rural residents. A lot of that assessment is based on first-hand information. About half of rural residents say they personally know someone, like a friend or family member, who has struggled with opioid addiction. Younger adults were even more likely to know someone struggling with addiction.While drug addiction topped the list of community problems, a slightly smaller percentage of rural residents think that economic concerns are the biggest issue in their communities, according to the poll. When it comes to family matters, however, rural people are more concerned about money and financial problems. Twenty-seven percent said economic issues were their biggest family problem (as opposed to community problem), while only 1 percent said drug addiction was their family’s biggest problem. Health concerns overall (including drug abuse) were the second biggest family problem on the open-ended list, at 16 percent of respondents. The third highest group said their families had no “biggest problem.” 

    Post date: Tue, 10/16/2018 - 16:16
  • Rick Perry’s coal rescue runs aground at White House | Politico

    One of the Trump administration’s major efforts to prop up ailing coal companies has run aground in the White House, a setback to an industry that had hoped for a major resurgence after Donald Trump won the presidency. Energy Secretary Rick Perry has spent more than a year pushing various plans that would invoke national security to force power companies to keep their economically struggling coal plants running — a goal in line with Trump’s frequent pledges to revive what he calls “beautiful, clean coal.” But the White House has shelved the plan amid opposition from the president’s own advisers on the National Security Council and National Economic Council, according to four people with knowledge of the discussions.It is unclear whether Trump himself has decided against following Perry’s proposal. Even if he has, the sources warned that Trump frequently changes his mind, and the idea could re-emerge in advance of the president’s reelection campaign

    Post date: Tue, 10/16/2018 - 15:56

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Gleanings

Talk to your governor about the Opportunity Zones in your state

30 January, 2018

Qualified Opportunity Zones in the Tax Cuts and Job Act of 2017

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Farmland Taxes Under Discussion in the Midwest Again

23 January, 2017

Senator Jean Leising knows it’s going to be another tough year for beef and hog producers, and 2016’s record national yields for corn and soybeans indicate that farm profitability will decline for the third straight year.  She is convinced that “the drop in net farm income again this year makes the changes Indiana made to the farmland taxation calculation in 2016 even more important.”  

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