Source: Ohio Farm Bureau
Taxes are becoming more of a hot topic in Washington D.C. and some of the plans being proposed would have a disastrous impact on rural Ohio and rural America as a whole. Proposed legislation in Congress would tax capital gains at death and eliminate stepped-up basis as a way to raise revenue for government spending, causing Farm Bureau to issue an Action Alert to our members. Ty Higgins has more with OFBF’s public policy vice president, Jack Irvin.
Click here for more information
Source: Chris Zoller, Extension Educator, ANR, Tuscarawas County
Click here for PDF version–easier to view Figures
The United States Department of Agriculture (USDA) recently released the interagency report: USDA Agricultural Projections to 2030. These long-term projections include several assumptions related to the Farm Bill, macroeconomic conditions, farm policy, and trade agreements. While long-term projections are based on assumptions and many unknowns, they do provide a glimpse of how U.S. farm commodity prices may perform over the next several years. Anyone interested in reading specific details is encouraged to see the report available here: https://www.ers.usda.gov/webdocs/outlooks/100526/oce-2021-1.pdf?v=3513.2.
This article briefly summarizes selected selections of the 102-page report, including U.S. crop prices, milk production, U.S. farm income, and government payments. Figures from the report are included to accompany the text.
U.S. Crop Prices
Rising global demand for diversified diets and protein will continue to stimulate import demand for grains. Increased demand for these crops is accompanied by rising competition for market share from countries such as Brazil, Argentina, the EU, and the Black Sea region. The United States also faces challenges related to ongoing tensions with trade partners and a relatively strong U.S. dollar. Although strong trade competition continues, U.S. commodities remain generally competitive in global agricultural markets, with U.S. corn and soybean exports projected at record highs by 2030/31. Nominal prices for wheat, cotton, and rice are expected to rise modestly between 2021/22 and 2030/31.
Source: Barry Ward, David Marrison, Peggy Hall, Dianne Shoemaker – Ohio State University Extension
“Farm Office Live” continues this winter as an opportunity for you to get the latest outlook and updates on ag law, farm management, ag economics, farm business analysis and other related issues from faculty and educators with the College of Food, Agricultural and Environmental Sciences at The Ohio State University.
Each Farm Office Live begins with presentations on select ag law and farm management topics from our specialists followed by open discussions and a Q&A session. Viewers can attend “Farm Office Live” online each month on Wednesday evening or Friday morning, or can catch a recording of each program.
The full slate of offerings remaining for this winter are:
- March 10th 7:00 – 8:30 pm
- March 12th 10:00 – 11:30 am
- April 7th 7:00 – 8:30 pm
- April 9th 10:00 – 11:30 am
Topics to be addressed in March include:
- Coronavirus Food Assistance Program (CFAP)
- Proposed Stimulus Legislation
- General Legislative Update
- Ohio Farm Business Analysis – A Look at Crops
- Crop Budget & Rental Rates
To register or view past recordings, visit https://go.osu.edu/farmofficelive
For more information or to submit a topic for discussion, email Julie Strawser at firstname.lastname@example.org or call the farm office at 614-292-2433. We look forward to you joining us!
Source: Peggy Hall, OSU Extension
Wondering what’s happening with CFAP, the Paycheck Protection Program, and Executive Orders? So is the Farm Office team, and we’re ready to provide you with updates. Join us this month for Farm Office Live on Wednesday, February 10 from 7–8:30 p.m. and again on Friday, February 12 from 10–11:30 a.m., when we’ll cover economic and legal issues affecting Ohio agriculture, including:
Status of the Coranivirus Food Assistance Program (CFAP)
Update on the Paycheck Protection Program (PPP).
Tax credits information
Executive Orders that may impact agriculture
Legal update on small refinery exemptions
Farm Business Analysis program results
by: Mary Griffith, Chris Zoller, Hallie Williams, OSU Extension Educators
Enrollment for the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs for the 2021 crop year opened in October, with the deadline to enroll and make amendments to program elections on March 15, 2021. This signup is for potential payments for the 2021 crop.
If changes are not made by the March 15th deadline, the election defaults to the programs selected for the 2020 crop year with no penalty. While it is optional to make changes to program elections, producers are required to enroll (sign a contract) each year to be eligible to receive payments. So, even if you do not change your program elections, you will still need to make an appointment at the Farm Service Agency to sign off on enrollment for the 2021 crop year by that March 15th deadline.
Producers have the option to enroll covered commodities in either ARC-County, ARC-Individual, or PLC. Program elections are made on a crop-by-crop basis unless selecting ARC-Individual where all crops under that FSA Farm Number fall under that program. These are the same program options that were available to producers during the 2019 and 2020 crop years. In some cases producers may want to amend program election to better manage the potential risks facing their farms during the 2021 crop year.
As you consider amending your program choices, here are some important reminders:
The Ohio Department of Agriculture (ODA) has been notified that several Ohio residents have received unsolicited packages containing seeds that appear to have originated from China. The types of seeds in the packages are currently unknown. The packages were sent by mail and may have Chinese writing on them. Unsolicited packages of seeds have been received by people in several other states across the United States over the last several days.
If you receive a package of this type, please DO NOT plant these seeds. If they are in sealed packaging, don’t open the sealed package. Please retain the seeds and the original package labeling for trade compliance officers as they work through this issue. Unsolicited seeds could be invasive species, contain noxious weeds, could introduce diseases to local plants, or could be harmful to livestock. Invasive species and noxious weeds can displace native plants and increase costs of food production. ODA and APHIS work hard to prevent the introduction of invasive species and protect Ohio agriculture. All foreign seeds shipped to the United States should have a phytosanitary certificate which guarantees the seeds meet important requirements.
State Climatology Field Specialist, Aaron Wilson and Ben Brown, Assistant Professor of Professional Practice in Agricultural Risk Management, both with The Ohio State University will give a summer weather and grain market update after the release of the 2020 Acreage and Grain Stocks Reports. Due to the Coronavirus, economic conditions for corn changed rapidly after the March Prospective Plantings Report, with likely changes in acreage for the Eastern Corn-Belt. Weather, as always, during July and August will play a major factor in final yields and production in 2020. Free Registration can be found at go.osu.edu/2020agoutlook
OSU Extension is pleased to be offering the a “Farm Office Live” session on Thursday morning, June 11 from 9:00 to 10:30 a.m. Farmers, educators, and ag industry professionals are invited to log-on for the latest updates on the issues impact our farm economy.
The session will begin with the Farm Office Team answering questions asked over the two weeks. Topics to be highlighted include:
- Updates on the CARES Act, Payroll Protection Program, Economic Injury Disaster Loan (EIDL), and Coronavirus Food Assistance Program (CFAP) Update
- Other legal and economic issues
Plenty of time has been allotted for questions and answers from attendees. Each office session is limited to 500 people and if you miss the on-line office hours, the session recording can be accessed at farmoffice.osu.edu the following day. Participants can pre-register or join in on Thursday morning at https://go.osu.edu/farmofficelive