It’s not to late to make changes for tax purposes. This year farmers have more alternatives to consider with respect to cost recovery or depreciation on assets that they placed in service during 2008.
WASHINGTON — Dairy Farmers of America, its former chief executive officer, Gary Hanman, and its former chief financial officer Gerald Bos will pay a $12 million civil monetary penalty for attempting to manipulate the Class III milk futures contract and exceeding speculative position limits in that contract. The settlement was announced Dec. 16 by the […]
The stage seems to be set for recovery in the grain markets.
Huge rift between U.S. soybean producer boards. The American Soybean Association is blasting the United Soybean Board, raising “serious ethical, legal, and financial allegations” about how farmer checkoff funds and program activities are being conducted.
ST. LOUIS — Monsanto Co. has received regulatory approval in the European Union for the importation of Roundup Ready 2 Yield soybeans. This approval follows the European Food Safety Authority’s opinion in July concluding Roundup Ready 2 Yield is safe for import as food and feed. Roundup Ready 2 Yield soybeans are the next generation […]
COLUMBUS — The federal government has made it official: We’re in a recession. It’s no surprise to most Ohioans, and certainly not to Gov. Ted Strickland, who decreed Dec. 1 that Ohio faces a $7 billion budget deficit in the upcoming 2010-2011 budget.
WEST LAFAYETTE, Ind. — Hog producers may actually be helped by the current recession because of lower feed costs, said a Purdue University Extension marketing specialist. Back into profitability “Lower costs in combination with smaller pork supplies in 2009 could be the combination that puts the industry back into profitability,” said Chris Hurt. “Hog prices […]
WASHINGTON — The U.S. Department of Energy’s National Renewable Energy Laboratory and Petroleo Brasileiro S.A. (Petrobras), the largest energy company in Latin America, are working together to accelerate the development and international commercialization of biofuels. The announcement was made Nov. 20 at the International Biofuels Conference in Sao Paulo, Brazil. “By bringing Brazilian expertise together […]
DENVER, Colo. — While economic caution flags are flying as we enter the final quarter of 2008, both U.S. beef and pork export levels continued to exceed expectations through the first nine months of the year. U.S. pork exports built on the record set in August, skyrocketing 61 percent in September over totals from a […]
WASHINGTON — A new approach is needed in world trade talks, considering the stalled Doha round of negotiations, according to the American Farm Bureau Federation. Federation president Bob Stallman said the organization will shortly begin discussions with domestic and international business and trade leaders in an effort to find a new way to move forward. […]
Ten or fewer acres? Sign up until Nov. 26 in direct counter-cyclical payment program.
WEST LAFAYETTE, Ind. — Agriculture in the United States is caught in the web of uncertainty being created by the financial crisis of 2008. The cattle industry is no exception, as both domestic and foreign demand for beef is related to consumer incomes, according to Chris Hurt, an Extension economist at Purdue University. Where the […]
TUCSON, Ariz. — Limited credit availability, volatile currency exchange rates and global economic uncertainty will create an uphill climb for U.S. beef and pork exports in many foreign markets for the remainder of the year. This was the common theme provided by directors of the U.S. Meat Export Federation’s international offices at the federation’s Strategic […]
URBANA, Ill. — A recovery in corn and soybean prices over the next six months is generally expected, making ownership of the crops beyond harvest prudent, said a University of Illinois Extension marketing specialist. “The current price structure in the corn and soybean markets suggests holding physical inventory is the preferred way of owning corn, […]
WASHINGTON — The U.S. Department of Agriculture’s National Agricultural Statistics Service released a corrected U.S. Crop Production report Oct. 28. Supply and demand The department also issued an abbreviated global supply and demand report to reflect the revisions and is now projecting the 2008/2009 corn harvest at 12.03 billion bushels, down 167 million bushels from […]
URBANA, Ill. — Nervous cattle producers have received a bit of advice from a Purdue University Extension marketing specialist — don’t panic. “Odds favor a recession and not a depression,” said Chris Hurt in a report distributed by University of Illinois Extension. “Understanding the magnitude of the recession is becoming easier as the impacts of […]
HARRISBURG, Pa. — Based on conditions as of Oct. 1, Pennsylvania’s production of soybeans, all other dry hay, Maryland-type tobacco and grapes is expected to be above last year according to the Pennsylvania field office of USDA’s National Agricultural Statistics Service. Production of corn for grain, dry alfalfa hay, Pennsylvania seedleaf tobacco, Burley tobacco, and […]
Ohio’s corn grain production is down 14 percent from last year’s state production total.
REYNOLDSBURG, Ohio — Ohio’s old crop corn stocks in all positions Sept. 1 totaled 75.4 million bushels, 83 percent above the 41.3 million bushels stored one year ago. On-farm stocks, at 27 million bushels, accounted for 36 percent of the total stored and increased 93 percent from the 14 million bushels last year. Off-farm stocks […]
WASHINGTON — Higher corn yields are expected in China for 2008 compared to 2007 resulting in 6 billion bushels, said Cary Sifferath, U.S. Grains Council senior director in China. Sifferath and Charles Ring of the Texas Corn Producers Board toured corn fields in the Northeastern provinces of Heilonjiang and Jilin, China to assess the corn […]