With the recent harvest price releases for Barley, Canola, Wheat and Sunflowers in certain states, be sure to double check your policies for a potential revenue claim. Revenue only losses must be submitted no later than 45 days after the release date. Contact your trusted ProAg agent today for more information.
Farm income and credit conditions continued to weaken in the first quarter of 2018, but at a slower pace than in previous quarters. According to the Tenth District Survey of Agricultural Credit Conditions, reduced farm income contributed to intensifying cash-flow concerns and tightening lending standards. Cash-flow shortages continued to limit the availability of working capital, and financing needs continued to rise.
Our resident Old Farmer is back with another #ThoughtfulThursday quote. "Do what you can, with what you have, where you are." - Theodore Roosevelt
Agriculture Future of America (AFA) recently sat down with AFA Campus Ambassador Julia Maddock to talk about her experience interning with ProAg. We appreciate Julia participating in our internship program and look forward to possibly being a part of her bright future!
As a new study published by the Thomas Jefferson Institute shows, it is hard to understate the value of Federal Crop Insurance, which involves a partnership including farmers, who pay insurance premiums, private insurance companies, which bear part of the risk and perform the job of assessing damage and paying claims, and the federal government which acts as a final reinsurance backstop for the program. This partnership is a far cry from former federal policy that put the entire cost of farm policy on the taxpayer.
Saturday’s LA Times article pointed out that, “But starting Friday, U.S. soybeans entering China face an extra 25% tariff on top of the 3% duty assessed on all imported soybeans. The threat of tariffs already has cost American farmers as soybean prices have fallen and Chinese orders have virtually stopped in recent weeks.
“Instead China has been buying more from Brazil and Argentina, among other sources. And on July 1, Beijing dropped the 3% duty for soybean imports from Bangladesh, India, Laos, South Korea and Sri Lanka, to encourage those countries to export more to China.”