Marketing-Communications

Beginning farmers get grant support; big market rallies require temperance; New members in Congress will need ag schooling; watch IRS requirements for prepaying expenses

The Federal Reserve’s plan to keep interest rates where they are buy $600 billion of Treasuries, should mean good news for agriculture.

(This is not a legal transcript. Bloomberg LP cannot guarantee its accuracy.)HUSSEIN ALLIDINA, HEAD OF COMMODITY RESEARCH AT MORGAN STANLEY, TALKS ABOUT OIL PRICE ESTIMATES ON BLOOMBERG TVAUGUST 31, 2010SPEAKERS: HUSSEIN ALLIDINA, HEAD OF COMMODITY RESEARCH, MORGAN STANLEYSCARLET FU, REPORTER, BLOOMBERG NEWS

John McCoy, of Orthman Manufacturing Inc. and President of the Farm Equipment Manufacturers Association, said the Association is among the many agricultural groups urging the Ways & Means House Committee to make permanent the five-year depreciation schedule for agriculture equipment

Market analysts think soybeans will see a price rally before corn, and farmers should have a strategy in place.

Many soybean producers say they get their best yields when they get the crop in the ground early, but that wasn’t the case this year. Pete Meyer of S&P Global says now farmers are seeing those ramifications.

The world’s soybean crop has grown by leaps and bounds since 1990, growing 231%. And “the U.S. and Brazil are in a neck-and-neck competition for the top spot,” according to ag economist David Widmar, writing for the Agricultural Economic Insights blog.

The world can’t seem to get its fill of soybeans. Exports from the U.S. and Brazil, the world’s largest growers, are the highest ever for this time of year, and demand is poised to eclipse earlier government forecasts for a record this season.

As a new month begins, there’s new things to watch.

U.S. increased biofuel target, boosting soybean-oil futures.