Business
While ag economists continue to be at odds when it comes to the likelihood of a recession in the U.S., some doubt the country’s biggest importers will be able to avoid a recession over the next 18 months.
The results of the Realtors Land Institute - Iowa Chapter’s September Land Trends and Values Survey show a decline in the rate of land value increase.
If your available labor pool seems to be getting more shallow, Rachel Beardsley, partner at Fragomen, an immigration law firm, says ag business managers can think more creatively.
“It’s likely managing a slimmer margin in production agriculture will be closer to the 1980s than the 2010s.”
John Phipps says nobody is forcing Americans to pay for the corporate windfall, but as consumers continue to spend, manufacturers to retailers have no reason to lower prices and profits.
September is National Suicide Prevention Month. According to the CDC, between 2000 and 2020 suicide rates climbed 46% in rural areas. By comparison, the rate in metro areas climbed 27.3%.
“This is the largest ag tech deal ever,” says Eric Hansotia, chairman, president and chief executive officer at AGCO.
Fractal pairs farmers wanting to expand their operations with hands-off investors who recognize the value of farmland.
![Ag Economists Monthly Monitor - Ag Economy Outlook - Main Article Image - 09-2023 - WEB[34].jpg](https://assets.farmjournal.com/dims4/default/dcdb1c6/2147483647/strip/true/crop/3500x2338+0+81/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2023-09%2FAg%20Economists%20Monthly%20Monitor%20-%20Ag%20Economy%20Outlook%20-%20Main%20Article%20Image%20-%2009-2023%20-%20WEB%5B34%5D.jpg)
Ag economists’ view on the ag economy is starting to erode. The September Ag Economists’ Monthly Monitor shows lower commodity prices, concerns about demand and a negative outlook for China’s economy.
Here are examples of how Star of The West has built connections and expanded opportunities for farmers.
There’s a new record farmland sale on the books. After a 15-min. bidding war between two area farmers, the gavel fell at $34,800 per acre, which is $4,800 more than the previous record set in November 2022 in Iowa.
Rural areas are slowly gaining access to decent broadband speeds, and small towns are adding fiber-optic lines. However, the decline of the population in areas with fewer than 10,000 people is not improving much.
A fierce competition is unfolding in the American soybean market, with Corteva, a spin-off of DowDuPont, gaining ground against industry leader Bayer.
“No other company can offer such integrated testing to predict what risks farmers face in the coming growing season,” Danielle Watts, vice president of data, said.
By layering disciplines in agronomy, environmental sciences and data analysis, ag retailers are unlocking new opportunities to work with farmers.
As brent crude futures soar toward $100, it’s creating a new battle in the Federal Reserve’s effort to fight inflation. One money manager warns another rate hike is likely.
On October 8th, 2019, local farmer Jerry Schwarzrock was entrapped in his grain bin. His sons found him, and immediately called 911. That one call then sparked a new calling for the local fire department.
To better understand the word choices preferred by farmers and ag retailers/crop advisers, Farm Journal conducted online surveys this fall asking both groups.
Mortgage interest rates just hit a twenty-year high, topping 7%. High borrowing costs will slowly dampen farmer demand for acres as record land prices mean all but a few will have to borrow some to buy.
While ag loan balances are up, they remain in good shape with delinquency levels low.
Doug Hensley from Hertz Real Estate answers the question, “How much do crop prices impact the decision-making process of farmland buyers” and shares how this year is shaping up to be a bit busier than anticipated.
During the 2024 Top Producer Summit, Top Producer will recognize remarkable farmers who have taken risks, built thriving businesses and given back to their communities.
Legacy Farmland Trust offers landowners a way to preserve and protect their assets for generations to come.
“There are some things that we’ve adopted over the years that really aren’t particularly useful and I think in some cases even detrimental to our performance,” says Dave Mitchell.
“People sometimes refer to farmland as an investment in gold, plus a coupon,” Bruce Sherrick says. “You get a fairly low annual cash flow, fairly high long-term rates of return and tax advantages to the asset classes.”
Take our three-question survey to help understand farmer preferences about word choice around conservation practices
Even with red flags with demand and the economy, the August Ag Economists’ Monthly Monitor shows economists continue to be impressed with the staying power of the U.S. ag economy, as well as the U.S. economy as a whole.
Carbon pipelines are stirring up controversy. According to John Phipps, projects like pipelines, transmission lines or solar arrays are bitterly and usually unsuccessfully opposed, but only by those affected.
Mike Yoder says he has the constitutional right to use drones to find downed deer, but the government says the practice is illegal on private and public land.
Products from John Deere, Soiltech and EarthOptics can help growers learn more about their fields while reducing input and operating costs.