News & Events
- Updates from Ohio Farm Bureau's 95th Annual Meeting
- Agriculture really is cool!
- Farm bill negotiations underway, Brown outlines priorities
- Important things to know for the 95th OFBF annual meeting
- Students invited to learn more about political process through Capitol Challenge
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Barry Ward, production business management leader for Ohio State University Extension, has calculated some average breakeven prices for corn and soybeans based on input costs for 2014.
After adjusting for inflation, the net farm income is expected to be the highest since 1973, largely reflecting several expected higher year-end crop inventories as a result of the record corn harvest, USDA said.
The proposed rule change would limit the number of agricultural businesses that can use cash accounting, requiring many to shift to the accrual method of accounting. This move is opposed by many agricultural groups including the American Farm Bureau Federation and the Farm Financial Standards Council.
Vilsack said the study shows farmers and ranchers are reducing nitrogen pollution by 48.6 million pounds each year and reducing phosphorus by 7.1 million pounds.
A growing number of farm bankers and economists interviewed at a Chicago Federal Reserve conference and the American Bankers ag meeting in Minneapolis this month warned farmers to brace for change in the coming year.
University of Illinois Farm Management Specialist Gary Schnitkey makes the observation that the significantly lower guarantees expected for the 2014 crop demonstrates the inappropriate nature for crop insurance to be the lone safety net for agriculture.
“For the first time in human history, income will have a greater influence than population growth on food security,” said Hertel, distinguished professor of agricultural economics. “While the global population is estimated to jump from 7 billion people to 9 billion in the next four decades, the rate of population growth rate is slowing.
Babcock said corn prices would drop about 5% as a result of reduced mandates, or about 25 cents per bushel. Corn production would fall by about 100 million bushels, and ethanol production would drop by about 11% from reduced mandates.
Whether budget negotiators will be able to tap into the farm bill's savings is a point of contention, however. Some key lawmakers, including House Speaker John Boehner (R., Ohio) say the farm-bill savings should be on top of whatever the budget negotiations produce.
Ohio cropland value rose 12 percent this year, with bare cropland averaging $5,600 an acre, said Barry Ward, production business management leader for OSU Extension