Taxes, Taxes and More Taxes. WOW … Just WOW!!

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

 

USDA Agricultural Projections to 2030

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.

  Continue reading

Farm Office Live Continues!

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 strawser.35@osu.edu or call the farm office at 614-292-2433. We look forward to you joining us!

Farm Office Live Returns on February 10 & 12

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

Legislative update

Your questions

To register for the free event, visit this link:  go.osu.edu/farmofficelive

 

Agricultural Risk Coverage and Price Loss Coverage for the 2021 Crop Year

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:

Continue reading

USDA Announces More Eligible Commodities for CFAP

Date
Tuesday, August 11, 2020 – 1:45pm
Contact Info

Application Deadline Extended to Sept. 11, and Producers Who Have Approved Applications to Receive Final Payments

(Washington, D.C., Aug. 11, 2020) – U.S. Secretary of Agriculture Sonny Perdue announced today that additional commodities are covered by the Coronavirus Food Assistance Program (CFAP) in response to public comments and data. Additionally, the U.S. Department of Agriculture (USDA) is extending the deadline to apply for the program to September 11th, and producers with approved applications will receive their final payment. After reviewing over 1,700 responses, even more farmers and ranchers will have the opportunity for assistance to help keep operations afloat during these tough times.

“President Trump is standing with America’s farmers and ranchers to ensure they get through this pandemic and continue to produce enough food and fiber to feed America and the world. That is why he authorized this $16 billion of direct support in the CFAP program and today we are pleased to add additional commodities eligible to receive much needed assistance,” said Secretary Perdue. “CFAP is just one of the many ways USDA is helping producers weather the impacts of the pandemic. From deferring payments on loans to adding flexibilities to crop insurance and reporting deadlines, USDA has been leveraging many tools to help producers.”

 

Continue reading

Do Not Plant These Seeds!!!

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.

Summer Climate and Grain Market Outlook Webinar

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

Farm Office Live Webinar Slated for Thursday, June 11 at 9:00 a.m.

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