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Logan
Hawkes
08/20/08
Crop News Weekly
Imagine having your soybean crop infected by an
ASR research center just across state borders. It hasn't happened, but
soybean growers in Mississippi are concerned it could happen one day if
a high powered hurricane or tropical storm were to roll across research
fields in Florida and spread ASR spores to distant farms. Growers would
like some assurance from researchers that the possibility of infection
is more fiction than fact. Also in the news this week, Victor Davis
Hanson doesn’t like the American farm support system — or its
European counterpart. Writing in The New York Times, Hanson, a Hoover
Institution scholar and former California raisin farmer, says both
should be dismantled. Why? Hanson believes these farm policies are
simply a convenient way for farm-state congressional candidates to
garner votes. Elsewhere, contrary to what’s been considered the gospel
for years, in regards to nitrogen (N) rate recommendations, Purdue
University agronomists believe that the optimum N rate is strongly
related to the soils’ capacity to supply N. Also, lest you forget, The
USDA’s Farm Service Agency is reminding growers that two significant
deadlines are looming for crop protection assistance. The first, Sept.
16, is the deadline for producers to sign up for the new permanent
disaster program, which the National Corn Growers Association sees as an
improvement over previous programs. Finally this week, learn about the
new farm program ACRE, says Ohio State Economist Carl Zulauf. ACRE is a
revenue (price times yield) program, not a price program. ACRE does not
presume what the market is going to be, it just follows the market.
Among the details in the Farm Bill: ACRE is an optional program
beginning in 2009, but opting for it is permanent, and ACRE provides
payments for individual crops, but it is applied to the whole farm. Get
the details below.
You'll find these stories and more in this issue of Crop News
Weekly. Happy reading.
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Does
outdoor ASR research threaten soybeans?
Research on Asian soybean rust in north Florida is a
little too close for comfort for Mississippi soybean producers and
Mississippi State University Extension leaders, who believe an untimely
storm could spread research spores into commercial production areas.
Scientists at the North Florida Research and Education Center in Quincy,
which is northwest of Tallahassee in Gadsden County, say the research is
necessary for developing methods to control the disease, and plan to
continue their research. The center began conducting soybean rust
research after the disease entered the United States on the winds of
Hurricane Ivan in 2004. In 2007, the Georgia/Florida Soybean Association
expressed concern over the NFREC’s release of rust spores into
research fields for testing purposes. - Elton Robinson, Farm Press
Editorial Staff
(To read the complete article, click on the headline above)
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Ending
farm supports won't help developing world
Victor Davis Hanson doesn’t like the American farm
support system — or its European counterpart. Writing in The New York
Times, Hanson, a Hoover Institution scholar and former California raisin
farmer, says both should be dismantled. Why? Hanson believes these farm
policies are simply a convenient way for farm-state congressional
candidates to garner votes. He also contends these supports are based on
“phony rationalizations,” if not outright deception and that any
Depression-era rationalizations for these programs are now obsolete and
even laughable. Worst of all, Hanson says, is the harm these supports
are causing developing world farmers, many of whose governments are
“near paranoid in their fear for their own farmers’ livelihoods
should they import a glut of imported American and European food that is
a product of sophisticated economies of scale.”
But Hanson’s
arguments don’t wash with two Alabama Cooperative Extension System
economists. - Jim Langcuster, Auburn University
(To read the complete article, click on the headline above)
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Experts
leave N detection to optical sensors
Contrary to what’s been considered the gospel for
years, in regards to nitrogen (N) rate recommendations, Purdue
University agronomists believe that the optimum N rate is strongly
related to the soils’ capacity to supply N. The soils’ ability to
supply N is dependent on the amount of organic matter, drainage
capability, rainfall, soil temperature, mineralization potential,
leaching potential and denitrification potential, explains Jim
Camberato, Purdue Extension soil fertility and plant nutrition
specialist. - Corn & Soybean Digest
(To read the complete article, click on the headline above)
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Farm
Service Agency reminds growers of deadlines
The USDA’s Farm Service Agency is reminding growers
that two significant deadlines are looming for crop protection
assistance. The first, Sept. 16, is the deadline for producers to sign
up for the new permanent disaster program, which the National Corn
Growers Association sees as an improvement over previous programs. The
2008 Farm Bill requires producers who wish to participate in the new
disaster programs to have crop insurance or non-insured crop disaster
assistance coverage for the land for which assistance is being
requested, and for all farms in all counties in which they have an
interest. - Corn & Soybean Digest
(To read the complete article, click on the headline above)
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New
Farm Program: ACRE
Learn about the new farm program ACRE, says Ohio State
Economist Carl Zulauf. ACRE is a revenue (price times yield) program,
not a price program. ACRE does not presume what the market is going to
be, it just follows the market. Among the details in the Farm Bill: ACRE
is an optional program beginning in 2009, but opting for it is
permanent; ACRE provides payments for individual crops, but it is
applied to the whole farm; ACRE provides payments, but direct payments
are cut by 20%, loan rates by 30%; Farmers must decide if that risk is
worth the increased ACRE risk-management plan; ACRE is compared to a put
option on revenue, calculated with state price averages; To get an ACRE
payment, both farm and state revenue must be under the guarantee. -
Corn & Soybean Digest
(To read the complete article, click on the headline above)
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USDA
raises corn crop, cuts soy output
Last week's first USDA survey estimate of corn and
soybean production held a bullish surprise for the soybean market and
moderately bearish news for corn prices as USDA pegged the national
average soybean yield more than a bushel below its July projection,
while raising its corn yield estimate by more than 6 bu./acre. USDA’s
August Crop Production Report pegged the U.S. soybean crop at 2.973
billion bushels on a national average yield of 40.5 bu./acre, down from
its July projection of 3 billion bushels on a yield of 41.6 bu. -
Richard Brock, Corn & Soybean Digest
(To read the complete article, click on the headline above)
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Farmfest
Forums Summary
Another very successful year of Farmfest Forums has
come and gone. After Farmfest is over, it is interesting to look back
and see what nuggetsare the take-home messages from the various forums.
These are my thoughts after the 2008 Farmfest forums: The U.S. Senate
candidate’s forum on agriculture and rural issues highlighted day one
of Farmfest, with an estimated 1,200 people in attendance – one of the
largest attended Farmfest forums ever; The Congressional candidates
forum on agriculture and rural issues was also held on the first day of
Farmfest, and was also very well attended... more... - Kent Thiesse,
Corn & Soybean Digest
(To read the complete article, click on the headline above)
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Financial
numbers away from the office
Road Warrior Dave Kohl writes: "The Road
Warrior recently stopped in Spearfish, SD, for the agribankers school at
Black Hills State University. A perceptive agrilender from Oklahoma
forwarded an interesting concept. He likes to discuss financial numbers
that producers can remember away from the office, or out on their
tractor or combine. The following is a list of a few compiled by the
class..." - Corn & Soybean Digest
(To read the complete article, click on the headline above)
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A
robust ag economy for some
A robust agricultural economy has been good for the
companies that supply seed, fertilizer and equipment. As a result, stock
prices of several agricultural-related companies have seen significant
increases, even as talk of a general economic slowdown has put pressure
on the Dow Jones Industrial Average. Consider this: If you had bought
$1,000 in Monsanto stock on January 4, 2006, you could have sold it for
$3,534.41 on June 18, 2008. A $1,000 investment in Mosaic stock on
January 4, 2006, was worth $10,393.80 on June 18, and $1,000 of stock in
Deere and Company grew to $2,292.85. By comparison, $1,000 of Exxon
Mobile stock purchased on January 4, 2006, was worth $1,507.04 on June
18. - Mark Moore, Farm Industry News
(To read the complete article, click on the headline above)
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VIDEO:
The economics of strip tilling
In an effort to provide new technology news to farmers
and industry leaders, Crop News Weekly has developed a series of
instructional videos designed to educate and entertain. View the latest
featuring Jodi DeJong-Hughes, University of Minnesota, explaining what
it takes to make strip-till pay with sound, economic advice. - Corn &
Soybean Digest
(To read the complete article and to watch the videos, click on the
headline above)
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Soybean
Checkoff powers Lincoln exhibit
Like the great American president Abraham Lincoln, the
fuel of his traveling bicentennial exhibition will be “Made in
America.” Checkoff funding from the United Soybean Board and the
Illinois Soybean Association will provide biodiesel to power the tractor
trailer that houses a new traveling exhibit highlighting an important
Lincoln milestone. The mobile museum is touring the United States to
commemorate the 200th anniversary of Lincoln’s birth, giving people
across the nation an opportunity to experience the Abraham Lincoln
Presidential Library and Museum, stationed in Springfield, Ill. The
subject of the exhibit, “Abraham Lincoln: Self-Made in America,”
highlights Lincoln’s humble beginnings and rise to a historic
presidency. (To read the complete article, click on the headline
above)
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Crop
economics featured at Missouri field day, Aug. 26
Grain marketing and price outlook will be featured at
the University of Missouri Graves-Chapple Farm field day, Aug. 26, near
Corning, Mo. “We have record commodity prices, but also record input
costs,” said Jim Crawford, MU Extension natural resource engineer and
farm coordinator. “We’re getting a lot of questions about marketing
of commodities. That’s why we’re covering the subject with its own
tour.” The crop economics tour, one of three tours at the field day,
will feature Ray Massey, MU Extension agricultural economist, who will
talk on how high profits lead to high-risk marketing; and Randa Doty, MU
Extension agriculture business specialist in Nodaway County, Mo., who
will discuss how much yield it takes to cover increasing crop production
costs. The tour will also include an update on LibertyLink soybeans.
(To read the complete article, click on the headline above)
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New
farm bill brings tax changes
Passage of the latest farm bill brought a sigh of
relief for most people involved in agriculture, but for farmers it
creates some changes that may require reworking of the farm financial
plan. The 2008 farm bill incorporates several self-employment and income
tax changes that can affect farmers in both the short and long-term.
These changes affect the reporting of income, expenses, deductions and
credits that are reported on income tax returns. North Carolina State
University Ag Economist and Farm Tax Specialist Guido van der Hoeven
says, “farmers, both active and retired, should be aware of changes in
the most recent farm bill, concerning land in the Conservation Reserve
Program.” Van der Hoeven says, IRS Notice 2006-108 called for CRP
payments to be subject to self employment taxes, regardless whether the
land owner was farming, absentee, or disabled. “I, and many of my
colleagues took exception to that IRS Notice. The 2008 farm bill did not
follow that guideline and effective December 2007, taxpayers who are
retired or disabled will not be subject to taxes on CRP payments,” van
der Hoeven says. - Roy Roberson, Farm Press Editorial Staff
(To read the complete article, click on the headline above)
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