Latest News From Farm Business - General

American Gothic: Farm Couple Nailed in Massive $9M Crop Insurance Fraud
American Gothic: Farm Couple Nailed in Massive $9M Crop Insurance Fraud

Welcome to a $9 million orgy of crop insurance fraud by an unassuming farm couple.

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Innovation For A Bright Future
Innovation For A Bright Future

Helping farmers do the Biggest Job on Earth is Job One for scientists at BASF Agricultural Solutions. Helping to maximize yields and minimize challenges through innovation are vital to that mission.

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Farmer Shocked After Lost iPhone Circles Globe, Returns Home
Farmer Shocked After Lost iPhone Circles Globe, Returns Home

After Kevin Whitney’s iPhone fell into 220,000 bushels of grain, the device made a 20,000-mile roundtrip across the globe before returning to its stunned owner.

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Growing Into Tomorrow
Growing Into Tomorrow

It’s no secret that today’s agriculture industry faces unprecedented challenges, and retailers stand on the front line facing them every day. These challenges span the globe.

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Young Farmer Makes History, Uses Video Games and YouTube to Buy $1.8M Land
Young Farmer Makes History, Uses Video Games and YouTube to Buy $1.8M Land

After a year-long wait, Grant Hilbert and his company, SquadBuilt, released American Farming on Nov. 24, 2023. Here's a look back at his journey to become a gamer, social media influencer and farmer. 

KC Fed: Credit Conditions For Livestock Producers To Improve, Deteriorate For Crop Farmers
KC Fed: Credit Conditions For Livestock Producers To Improve, Deteriorate For Crop Farmers

Farm income is expected to drop notably from last year alongside lower revenues and higher expenses, but remain well above the historic average.

Thanksgiving Food Costs Reflect A Healed Supply Chain
Thanksgiving Food Costs Reflect A Healed Supply Chain

A traditional Thanksgiving feast reflects two current trends in food-at-home economics: increased retail food costs vary by category and the supply chain is back to pre-COVID patterns.

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Telling The Sustainability Story
Telling The Sustainability Story

As using sustainable practices becomes an even more essential part of farm business, BASF remains committed to helping the industry achieve its goals and to helping measure and communicate what is already being done.

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What Will the Reference  Price Be in the New Farm Bill?
What Will the Reference Price Be in the New Farm Bill?

The Congressional Budget Office estimates corn will hit the $4.26 Effective Reference Price for 2025 to 2027 crops.

New Legislation Looks To Connect Farmland And Ranchland To Broadband
New Legislation Looks To Connect Farmland And Ranchland To Broadband

The Last Acre Act would help expand high-speed internet access across eligible farmland, ranchland and farm sites. At least 15% of farms and ranches have no access to the internet today. 

Bushel Receives Grant to Develop Carbon Intensity Score Tracking
Bushel Receives Grant to Develop Carbon Intensity Score Tracking

“Most of the sustainability efforts have been focused on the farmers. But with opportunities such as the Section 45z tax credits, we believe we can support the “messy middle” of the supply chain," says Brant Flint.

Important Differences Between Today and the 1980s Ag Economy
Important Differences Between Today and the 1980s Ag Economy

Though inflation is currently high, Indiana ag lender Joe Kessie doesn’t expect a repeat of what he experienced in his early career for three main reasons.

At Just 22 Years Old, She's a Farmhand Who's Found Social Media Success In a Remarkable Way
At Just 22 Years Old, She's a Farmhand Who's Found Social Media Success In a Remarkable Way

At 22 years old, Emma decided the college life wasn't for her. She dropped out and decided to become a farmhand. With each adventure comes lessons she shares on her "Ag With Emma" social media accounts.

Almost Half of the Largest 100 Cooperatives Are Focused in Agriculture
Almost Half of the Largest 100 Cooperatives Are Focused in Agriculture

For the latest list—based on 2022 data—47 of the 100 cooperatives are in agriculture. In all, 59% of the $319 billion in generated revenues of co-operatives are from those ag-focused co-ops: $187.6 billion.  

Syngenta Group Names New CEO Starting January 2024
Syngenta Group Names New CEO Starting January 2024

Effective Jan. 1, 2024, Jeff Rowe will be CEO of Syngenta Group.

High Interest Rates Are Already Impacting Farmers, And It's Coming at the Expense of Ag Loans
High Interest Rates Are Already Impacting Farmers, And It's Coming at the Expense of Ag Loans

Farmers are opting to tap into their savings from recent prosperous years instead of taking out loans at the highest interest rates since 2007, according to surveys conducted by regional Federal Reserve banks.

Arkansas Takes On Foreign-Land Ownership With New Rule
Arkansas Takes On Foreign-Land Ownership With New Rule

“I'm announcing that Syngenta, a Chinese state-owned agrichemical company, must give up its land holdings in Arkansas,” emphasized Arkansas Gov. Sarah Huckabee Sanders.

Paul Neiffer
Does 2024 Rhyme with 2014

Agricultural Risk Coverage (ARC) uses Olympic Average MYA prices to determine the amount of guarantee. The 2024 numbers may be almost exactly the same as 2014 numbers.

Understand Costs, Build Confidence
Understand Costs, Build Confidence

A Bushel online survey found a correlation between marketing satisfaction and understanding and use of cost of production data.

Paul Neiffer
Is $100 an Acre Enough to Get Farmers to Sign Up?

USDA announced a $80-million grant to Virginia Tech to promote climate-smart agricultural practices. Also, the $100 is the three-year total, so the annual payment is less than $35 per acre.

House Nominates Scalise for Speaker, the Farm Bill Needs an Extension
House Nominates Scalise for Speaker, the Farm Bill Needs an Extension

Work by the House or Senate Agriculture Committee on a new farm bill is essentially stalled, Randy Russell tells AgriTalk's Chip Flory. Russell says that could be the case until government funding issues are resolved.

Paul Neiffer
Are Land Values Topping Out Now?

The Chicago Federal Reserve notes land value increases finally dropped into single digits in the second quarter.

Survey Shows Land Values Leveling Off
Survey Shows Land Values Leveling Off

The results of the Realtors Land Institute - Iowa Chapter's September Land Trends and Values Survey show a decline in the rate of land value increase.

‘Shutdown Shenanigans’ Could be Big Negatives for Grain Markets and U.S. Credit Ratings
‘Shutdown Shenanigans’ Could be Big Negatives for Grain Markets and U.S. Credit Ratings

If Congress doesn't pass stopgap funding, crop production and progress reports will probably stall. That won't bode well for markets. "Usually it means that we've got some selling pressure ahead,” says one analyst.

Reduce Competition: New Tool Partners Investors and Farmers
Reduce Competition: New Tool Partners Investors and Farmers

Fractal pairs farmers wanting to expand their operations with hands-off investors who recognize the value of farmland.

John Phipps: Is Broadband the Secret to Reviving Rural America?
John Phipps: Is Broadband the Secret to Reviving Rural America?

Rural areas are slowly gaining access to decent broadband speeds, and small towns are adding fiber-optic lines. However, the decline of the population in areas with fewer than 10,000 people is not improving much.

Paul Neiffer
What is the Typical IRS Extension Relief for Natural Disasters

The IRS allows most taxpayers affected by disasters additional time to file and pay their taxes. We review some of those details.

Weather Events Weigh On Ag’s Bottom Line
Weather Events Weigh On Ag’s Bottom Line

As extreme weather events affect the profitability of agriculture, here are four areas to bring focus to the ripple effect.

Is Corteva Now Beating Out Bayer? Company's Market Share Surges On Soybeans
Is Corteva Now Beating Out Bayer? Company's Market Share Surges On Soybeans

A fierce competition is unfolding in the American soybean market, with Corteva, a spin-off of DowDuPont, gaining ground against industry leader Bayer.

Ag Loan Balances Are Up, Credit Outlook Remains Strong
Ag Loan Balances Are Up, Credit Outlook Remains Strong

While ag loan balances are up, they remain in good shape with delinquency levels low.

Ag Partners Coop Joins The Growers Retail Network
Ag Partners Coop Joins The Growers Retail Network

The Growers app provides increased efficiency for farmers and empowers retailers to serve farmers in a modern, digitally enabled way.

2023 Farm Profits Dip From 2022 Levels
2023 Farm Profits Dip From 2022 Levels

USDA forecasts net farm income will decline $41.7 billion (22.8%) from last year’s record to $141.3 billion in 2023, though that’s up from its February outlook of $136.9 billion.

Small Effort, Big Significance: Tips to Boost Retention and Recruitment
Small Effort, Big Significance: Tips to Boost Retention and Recruitment

Positive feedback is 1200x more effective than ignoring problems.

Angels In Blue Offer Helping Hands To Farmers In Crisis
Angels In Blue Offer Helping Hands To Farmers In Crisis

Farm Rescue's mission is to help farmers and ranchers who have had a major illness, injury or natural disaster by providing equipment and volunteer labor – free of charge – to perform time-sensitive services.

Two of Indiana's Largest Cooperatives Pursue Due Diligence, Possible Merger
Two of Indiana's Largest Cooperatives Pursue Due Diligence, Possible Merger

Co-Alliance’s footprint extends across Indiana, Ohio and Michigan. Ceres Solutions’ footprint extends across 37 counties in Indiana and Michigan.

How Company Culture Drives Peak Performance
How Company Culture Drives Peak Performance

What can organizations do to elevate their entire team’s performance? Dave Mitchell, Founder of The Leadership Difference, says the answer lies in your company’s culture.

Cargill Sets Sail With Wind-Powered Dry-Bulk Overseas Shipments
Cargill Sets Sail With Wind-Powered Dry-Bulk Overseas Shipments

If this test voyage is successful, Cargill aims to add 10 more vessels to be wind-powered.

Inflation and Recession Pressures: Is Farmland a Good Investment Right Now?
Inflation and Recession Pressures: Is Farmland a Good Investment Right Now?

“If I were picking both from a financial and an emotional perspective, the next place I could put a dollar, I still would favor farmland pretty highly,” Bruce Sherrick says.

bank-hastings
Rural Kansas Bank Is Fifth and Smallest Bank to Fold in 2023

On July 28, the FDIC announced the closing of four-branch Heartland Tri-State Bank headquartered in the southwest Kansas town of Elkhart.

Syngenta Unveils New Seeds Research-and-Development Innovation Center 
Syngenta Unveils New Seeds Research-and-Development Innovation Center 

Some of the research now underway at the facility is focused on improving germplasm performance, launching stacked, next-generation differentiated traits and demonstrating  regenerative agriculture cropping systems.

What Do Interest Rate Increases, Bank Downgrades Mean for Farmers?
What Do Interest Rate Increases, Bank Downgrades Mean for Farmers?

Three recent headlines from the financial world have farmers asking how those events could affect their lending situation.

John Phipps: Is There Really a Shortage of Truck Drivers?
John Phipps: Is There Really a Shortage of Truck Drivers?

In early 2022, a possible trucker shortage grabbed headlines, but John Phipps says even today, there isn't much hard data to substantiate that alarm.

Higher Interest Rates Cool Farm Lending
Higher Interest Rates Cool Farm Lending

New operating loans have interest rates double compared to 2021

Paul Neiffer
A Discussion with Chip Flory of AgriTalk on the Farm Program Integrity Act of 2023

I was on the AgriTalk program yesterday with Chip Flory discussing the Farm Program Integrity Act of 2023. In this post we provide a link to that discussion.

Major CRP Changes Could be Coming in the Farm Bill
Major CRP Changes Could be Coming in the Farm Bill

House Republicans, particularly on the House Ag Committee, are debating changes to the Conservation Reserve Program as part of the upcoming farm bill reauthorization.

Paul Neiffer
IRS Says Supply Chain Issues Do Not Allow You to Claim an ERC

Many promoters claim you qualify for the Employee Retention Credit due to supply chain issues. They are wrong and the IRS provides additional guidance on this issue.

Fill Farm Management Gaps to Maximize Farm Productivity
Fill Farm Management Gaps to Maximize Farm Productivity

“Most farms don’t have the time, capabilities, perspectives, resources or desire to do all the tasks it takes to run an operation," says Steve Kluemper, AgriStrategies LLC founder. "A lot of growers hire to fill gaps."

CoBank Quarterly: The Slowdown-Resistant Economy
CoBank Quarterly: The Slowdown-Resistant Economy

Rebound in labor force participation a bright spot for businesses and a key to economic recovery

U.S. Inflation Continues to Decline, Down from 4% in May
U.S. Inflation Continues to Decline, Down from 4% in May

Meanwhile, service prices and the core index (which excludes food and energy) remain high, with the core CPI descending to 4.8%.

How One Rural Community Rallied To Raise $12.5M For Impressive Community Complex
How One Rural Community Rallied To Raise $12.5M For Impressive Community Complex

Osage, Iowa was able to raise enough money, without raising taxes, to build the Cedar River Complex, which features an indoor pool, fitness center, walking track, basketball courts, 600 seat theatre, museum and more.