Farm Business - General
Lenders In the hearing seemed to agree on a boost to lending limits in USDA guaranteed loans as lawmakers ready for the next farm bill.
The reason for the shift is rooted in financial improvements, according to James Mintert, professor in the Department of Ag Economics at Purdue.
On Jan. 1, 2023, the percentage immediately deductible through bonus depreciation (a provision in the Tax Cuts and Jobs Act) went from 100% to 80%. It will continue dropping by 20% each year until it reaches zero.
Veteran farmer Don Guinnip knows the value of conservation. Farming in the Wabash Valley, the sixth-generation corn and soybean producer is accustomed to growing crops in what he says is “not prime farmland.”
In the biggest con in agriculture history, Anthony De Angelis stole over $1 billion, shook Wall Street to its core, humiliated big banking, embarrassed USDA, and ushered in the rise of Warren Buffet.
Here we go again. Some farmers and at least one farm-state lawmaker want to move back to payments based on planted and not base acres.
Just as your crops will be doing soon, financial risks are growing this year.