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Crop Talk
by Crop Insurance Specialists on November 18, 2011
If only we had a crystal ball to predict the future, our decisions in agriculture would be so much easier. Who could have predicted in early June we would go from ideal crop prospects, to widespread wind and hail, to record floods and then near all time record heat and drought. The volatility in our weather and markets is why crop insurance is so important in managing your risk. Please take the time to sit down with your Crop Insurance Specialist and review your coverage and all policy information. This will allow for accuracy and help to not only cover your input costs, but also achieve the goals of your marketing plan. We probably say this in every newsletter, but crop insurance is no longer a “one size fits all” program. Do yourself a favor and give your Crop Insurance Specialist the time it takes to be sure you have the coverage you need when you need it.
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Business ¢ents
by Dennis Roddy on November 18, 2011
Business planning is crucial for business managers and should take place all year long when possible. Several factors may be affecting you this fall that you normally don’t have to deal with. Some of those may include less carryover of grain, collecting crop insurance proceeds and the sale of livestock due to drought, all of which may affect your taxes significantly.
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Leasing Residual
by Joe Metzen on November 18, 2011
What People Leased this Year and Why
Grain Facilities: Frontier Farm Credit’s pricing special combined with simple collateral requirements and 100% financing worked great this year on grain facilities. A couple of situations even allowed the younger generation to put a bin or bulk seed system on land they did not own without encumbering that land.
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Of Intere$t
by Tony English on November 18, 2011
Harvest is finishing up after some pretty tough growing conditions in much of eastern Kansas. Economic conditions also continue to be pretty tough. Unemployment remains high and economic growth is precarious at best. The difference between slow growth and an actual double-dip recession is probably very small. There is still a contagion threat from Europe and a worldwide economic slowdown looms over any recovery here in the United States. Politics will rule the day as the election cycle begins in earnest. Political maneuvering will affect not only economic policy for the near future but also government programs. The next Farm Bill debate will not only have a record number of stakeholders at the negotiating table, but also will be shaped by the shadow of record government deficits.
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President's Corner
by Doug Hofbauer on November 18, 2011
Celebrating 95 years of the Farm Credit System
Frontier Farm Credit is part of the $180 billion Farm Credit System. The system formed in 1916 and today is the oldest and most successful GSE (Government Sponsored Enterprise). Started with government seed money, all government funds have long since been repaid and the Farm Credit System today is a totally private cooperative funded through the national money markets and governed by a customer-elected board of directors.
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Business ¢ents
by Dennis Roddy on September 22, 2011
Given this season’s weather conditions and circumstances, livestock producers faced with marketing production early and culling breeding stock due to drought should be aware of three tax rules in place that guard against tax problems caused by a forced sale of livestock.
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Business ¢ents
by Dennis Roddy on August 4, 2011
Given this season’s weather conditions and circumstances many of our customers are experiencing drought this year and may be interested in how their crop insurance proceeds will affect their taxes. Farmers interested in deferring crop insurance proceeds must have a normal business practice of typically deferring the sale of crops to the following year. The IRS guidelines on normal business practice are 50% or more of the crop sales must normally be deferred into the following year. Each crop is examined on an individual basis. It is important to note that if you are eligible to defer your crop insurance proceeds, all of those proceeds from that eligible deferred crop must be deferred.
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Crop Talk
by Crop Insurance Specialists on August 2, 2011
Frontier Farm Credit’s crop insurance experts want to remind farmers that the level of aflatoxin in corn may qualify the production for quality adjustment under their MPCI crop insurance policy.
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President's Corner
by Doug Hofbauer on May 31, 2011
When we formed Frontier Farm Credit on 01/01/01, one of our founding principles was dependably and consistently serving customers both in good times and in bad times. I’ve long held the view that Farm Credit is the lender of choice to serve the industry of agriculture. We proved that during the financial crisis of 2008, the downturn for pork producers in 2008 and 2009, and now the green industry in 2011. For those of us who experienced the 80’s, it has been gratifying to prove that being a customer of the committed and dependable Farm Credit System is the right decision for producers.
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Leasing Residual
by Joe Metzen on May 31, 2011
There seems to be a lot of new shiny metal going up in the country. Both on-farm and commercial storage seems to be trying to play catch up with increasing yields. Bin builders are busier than ever, even with increasing steel prices.
With the costs of permanent storage ranging $1.75 per bushel to $3.00 per bushel, one might ask what options there are for paying for these improvements. People always think of conventional loans or paying cash, but leasing is another option that offers some benefits. As with any financial decision, there are a multitude of factors involved, but researching all the options can uncover some benefits. Let’s walk through some of the pluses to leasing your next storage facility.
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