WASDE: Production, Ending Stocks on the Rise

By: U.S. Department of Agriculture

WHEAT

The U.S. 2018/19 wheat supply and demand estimates are unchanged from last month.  There are offsetting by-class changes for both exports and imports.  The season-average farm price range is unchanged at the midpoint of $5.10 per bushel and the range is narrowed $0.20 per bushel to $4.70 to $5.50. Continue reading

Details On How USDA Calculated Aid Payment Rates

By: Anna-Lisa Laca
Previously published by Farm Journal’s PORK

As promised by Agriculture Secretary Sonny Perdue, USDA released details on how aid payments were calculated on Thursday. The details, which were released by the office of USDA Chief Economist Robert Johansson, explain how payment rates for the Market Facilitation Program (MFP) were determined. Continue reading

Section 199A: The Rules For Entities

By: Paul Neiffer, The Farm CPA Blogger
Previously published by AgWeb Daily

The new tax code requires the 20% Section 199A deduction to be calculated for each separate business. Most farm operations operate in a multi-entity structure: an entity as the “farmer,” one or more entities to own the farmland that is rented to the “farmer” and perhaps even other entities to hold the equipment and rolling stock. Continue reading

Farm Capital Expenditures Turns Higher

By: David Widmar, Previous published in Agriculture Economic Insights

When times are tough in agriculture, efforts to lower costs and improve cash flow often necessitate a cut, or delay, in capital expenditures. As expected, farm capital expenditures, after peaking in 2014, rapidly contracted as net farm income and commodity prices turned sharply lower. Continue reading

Late August Updates

Check out some upcoming Opportunities and Resources

What We Learned from Growing Barley in 2018:  Eric Richer has scheduled a twilight program on August 28 to review the yields and quality metrics from several test fields of malt barley grown here in NW Ohio in 2018.  If you are considering this crop in 2019 or beyond, please come learn about the one year’s worth of data we have here locally.  7 pm at Robert Fulton Ag Center with a chance to see double crop bean comparisons after wheat and barley with a local farm tour.  PLEASE RSVP to Ruetz.1@osu.edu but there is NO COST to attend.

ODA’s Clean Sweep pesticide collection program: ODA will be doing a collection of unwanted pesticides on Sept 6, 2018 at Wood County Fairgrounds in Bowling Green (closest location) from 9 am to 3 pm. More info about what’ accepted

(NOT motor oil, antifreeze, commercial pesticides, etc) – https://pested.osu.edu/agriculturalpesticides
Dropoff location: Wood County Fairgrounds (Champion Barn)
13800 W. Poe Rd., Bowling Green, OH 43402

 

FARM MANAGEMENT:

Ohio Farm Custom Rates fact sheet 2018: attached, hot off the press from Barry Ward.  Or found athttps://farmoffice.osu.edu/farm-management-tools/custom-rates-and-machinery-costs

Western Ohio Cropland Values and Cash Rents 2017-18: attached, hot of the press from Barry Ward. Or found athttps://farmoffice.osu.edu/sites/aglaw/files/site-library/farmBusiness/Western%20Ohio%20Cropland%20Values%20and%20Cash%20Rents%202017-18%20Final.pdf

 

 

Strategies To Nail Your Cash Rent Negotiations

By: Sara Schafer, Top Producer editior. Previously published on AgWeb Daily.

If thinking about negotiating cash rental rates makes you sweat—you’re not alone. This annual task can be unnerving, especially if you are asking for a rental reduction. The current cloudy profitability and policy picture adds even more pressure this year. Continue reading

Understanding the Generational Differences

By: Chris Zoller, Extension Educator, ANR in Tuscarawas County

We hear about and read labels for different generations and we know there are differences among them.  What do the differences mean if you are managing people from different generations?  Depending upon the publication you read or with whom you speak, there may be a slight difference in birth start and end years, but the following table provides some general guidelines. Continue reading

Three Tips To Lower Farmland Cash Rent

By: Anna-Lisa Laca, Farm Journal’s Milk Online and Business Editor

While commodity prices face significant pressure and yields are still up in the air, many producers wondering how they will continue to be able to rent farmland when it’s barely profitable, and in some cases isn’t profitable. How can producers negotiate lower cash rent in the middle of a land rental agreement? Continue reading

Farm Sector Working Capital At Lowest Levels in 10 Years

By: Brent Gloy, Agricultural Economic Insights Online

The financial condition of the U.S. farm sector continues to deteriorate.  The extent of the deterioration is perhaps best seen in the level of working capital which has fallen sharply since 2012. This decline does not bode well for the financial condition of many U.S. farmers.  Continue reading

The Farm Economy: How Bad Is It?

By: Brent Gloy, Agricultural Economic Insights

Maybe it’s just me, but it seems that there have been a large number of recent articles in the press about the negative situation in the farm economy (for example 1234you get the idea).  This was further driven home when a friend recently called to ask just how bad economic conditions are on the farm. I thought it might be a good time to provide some analysis of the current situation.  Continue reading