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Name: Mark A. Keller, ASA, SR/WA, CCIM  Chapter:   AZ ASFMRA Member Since:   2002 Current Employer: Salt River Project When did you begin your career in agriculture? Why? As the new real property appraiser at Salt River Project in 2001, the Phoenix Metropolitan area was rapidly expanding into the West Valley and also into northern Pinal County. Salt River Project was projecting substantial facilities needs in terms of infrastructure and right of way. At that time, huge tracts of agricultural and desert land were available and I needed a professional organization of appraisers to provide agricultural valuation and expertise, so I became ...
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Snow, Freezing Temperatures Threaten Northern U.S. Corn, Soybeans Plunging temperatures and heavy snow forecast for the upper U.S. Plains from Friday to Sunday are likely to damage unharvested corn and soybean crops in parts of North Dakota, South Dakota, Minnesota, Nebraska, and Iowa, meteorologists said on Wednesday. The winter-like blast could dump up to 3 feet of snow in central and eastern North Dakota and send temperatures plunging into the 20s Fahrenheit in Nebraska, western Iowa, southwest Minnesota, and the Dakotas, said Kyle Tapley, senior agricultural meteorologist with space technology company Maxar. Read the Full Story. The Big Players ...
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Struggling Farmers See Bright Spot in Solar U.S. farmers are embracing an alternative means of turning sunlight into revenue during a sharp downturn in crop prices: solar power. Solar panels are being installed across the Farm Belt for personal and external use on land where growers are struggling to make ends meet. The tit-for-tat tariffs applied by the U.S. and China to each other’s goods have cut demand for American crops. Futures prices for corn, soybeans and wheat are all trading around their lowest levels since 2010. Making matters worse, record spring rainfall left many farmers no time to plant a decent crop. Read the Full Story. Why ...
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How a Manhattan Scion Built a Rural Empire Stefan Soloviev is in his “western office”—the passenger seat of a Chevy Silverado bouncing along a dirt road near the Kansas-Colorado border, his farm manager at the wheel. It’s a far cry from his desk on the 45th floor of 9 W. 57th St. in Manhattan, a skyscraper famed for its Central Park views, private equity tenants and irascible owner—Soloviev’s 91-year-old father, billionaire developer   Sheldon Solow . Out here, the son is the empire builder. In ball cap and T-shirt, flexing elaborately tattooed arms, he works the phone as the four-ton truck kicks up a dust cloud between the wheat fields. His wheat ...
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Name: Norm Edwards, ARA Chapter: AZ and SD ASFMRA Member Since: 1973 Current Employer:  Self Employed Currently Retired State and Federal Governmental Appraiser When did you begin your career in agriculture? Why? I grew up on a ranch in the Black Hills of South Dakota and Wyoming. I was exposed to a more diversified farm and ranch eco-system when I studied Agricultural Economic and received my B.S. from South Dakota State University. I applied for a position for the State of South Dakota and began my career in Appraising. I almost immediately found the challenges in evaluating properties and justifying the value of interest in the properties ...
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Protecting Farmers in the Path of Hurricane Dorian When major disasters strike, USDA has an emergency loan program that provides eligible farmers low-interest loans to help them recover from production and physical losses. USDA also offers additional programs tailored to the needs of specific agricultural sectors to help producers weather the financial impacts of major disasters and rebuild their operations.  Read the Full Story. FDIC Approves Increase in Residential Appraisal Threshold The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved the final rule titled “Increase the Appraisal Threshold for Residential Real Estate ...
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Machinery Cost Estimates for 2019 Estimated machinery costs often are used to set custom rates when one individual performs a field operation for another individual.  We provide machinery cost estimates which may be useful in setting custom rates.  An additional amount for profit should be added to our cost estimates, as we have not added an amount for returns. Read More Here Women Are Big Part of AgTech Generation Innovation It would be overly simplistic to state that this is a tough time for growers in the U.S. The number of farms and ranches continues to decline, with a growing number of farms being sold off as farmers are faced with the rising ...
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The United States Department of Agriculture and the National Agriculture Statistics Service published its 2019 state-by-state and national averages for the value of farmland, cropland and pasture. You can  view its entire report here
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9 Things Every Landowner Must Do Before Renting Land It’s almost time for farmers and landlords to begin negotiating their leases for the 2020 growing season. With 40% of U.S. farmland rented, this market is worth $32 billion. As you begin to consider the next growing season, you have the opportunity to make adjustments and gain new insight into the health of your land. To help you make the most of this time leading up to farmland lease termination dates, here are nine things you need to address ahead of the 2020 growing season: Read More Here. California Farmers are Planting Solar Panels as Water Supplies Dry Up Jon Reiter banked the four-seat ...
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Report Shows 2019 Crop Continues to Lag Cooperative fall weather is always important to Upper Midwest farmers. It will be especially important this year, with most area crops still far behind their normal development. The weekly crop progress report, released July 22 by the National Agricultural Statistics Service, an arm of the U.S. Department of Agriculture, found that the maturity of area crops, especially corn and soybeans, continues to lag their five-year averages. Will Lag Continue? China To Allow Some Buys of U.S. Corn, Cotton and Pork Tariff-Free Bloomberg reports the Chinese government has approved several of its companies to buy U.S. corn, ...
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USMCA Advocacy If you’re interested in contacting your representatives in the House of Representatives and Senate regarding the impact on agriculture of the United States-Mexico-Canada Agreement (USMCA), you may wish to use   this template  endorsing its ratification.   No matter your position, you can find contact information for your House representative  here , and for your state’s Senators  here . Selling Land to Reduce Debt? Consider an Opportunity Zone Fund For years, farmers have used the tax strategy of Section 1031 Tax-Deferred Exchanges (also known as like-kind exchanges). It can be a great option to defer the gain on the ...
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USDA Crop Progress Report Grades Corn Condition Slightly Better The U.S. corn and soybean crops made slight improvements vs. a week ago, but remain behind five-year averages for silking and emergence, according to the USDA’s weekly Crop Progress Report released Monday. The overall condition of the corn crop is rated at 58% good to excellent in the top 18 corn producing states, compared with 57% a week ago. USDA pegged just 17% of the corn crop was in the silk stage, compared with a 42% five-year average. As of Sunday, Illinois had just 19% of its corn crop in the silk growth stage, Indiana 10% and Iowa 8%. 110˚F Weather To Take Toll on Late-Planted ...
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Perspectives on Corn Belt Farmland Values An update last month from Iowa State University (ISU) Extension’s Wendong Zhang and Steven Johnson (“Agricultural professionals expect lower land values and stable crop prices“) stated that, “Over 270 agricultural professionals attended the 2019 ISU Soil Management Land Valuation (SMLV) Conference this past May…Over 150 participants provided their estimates of future land values as well as future cash corn and soybean prices in their primary county in Iowa via an online Qualtrics survey. Where Will Values Go? On the Edge: Farmland Values Treading Water The future of the farmland market continues to be ...
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Corn Acres May Not Fall As Much As Forecast USDA's last Crop Progress report shows 92% of corn is now planted and 77% of soybeans. Farmers from across the midwest are weighing in on those numbers asking what 92% really means. During an interview with AgDay's Clinton Griffiths, Sam Hudson of Cornbelt Marketing stressing that planted acres are an unknown. "Well until we see an actual printed number from USDA you almost have to focus on just the production potential in general," says Hudson. "As opposed to [here's] what I think acres are and that's where I think yield could be." What Will Happen to Corn Acres? Arlan Suderman: USDA Should Have Never ...
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USDA To Allow Farmers To Harvest Prevent Plant Cover Crops Sept. 1 As the growing season marches on and farmers are expected to file prevent plant claims on a record number of acres, USDA is easing cover crop harvest rules to ensure livestock producers have adequate feed supplies. In 2019, farmers who planted cover crops on prevent plant acres will be permitted to hay, graze or chop those fields on Sept. 1 instead of Nov. 1. “We recognize farmers were greatly impacted by some of the unprecedented flooding and excessive rain this spring and we made this one-year adjustment to help farmers with the tough decisions they are facing this year,” said USDA undersecretary ...
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On the Edge: Farmland Values Treading Water … for Now The future of the farmland market continues to be a guessing game. So far, values have been supported by low interested rates and a strong buyer pool for limited land for sale. But numerous financial metrics point to a deterioration of farmers’ financial health, according to a semi-annual market update from Farmers National Company. “As 2019 unfolds, the land market will remain on edge watching farm finances, weather, and trade issues,” says Randy Dickhut, senior vice president of real estate operations for Farmers National. “The outcome of these and other unknowns will guide which direction land values ...
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Rules for Planting Cover Crops or Second Crops with Prevent Plant A recent Farm Journal Pulse indicates that about one-third of U.S. farmers will take prevent plant this season. With the potential for millions of acres to be barren you might be wondering what you can do to prevent erosion or provide feed opportunities for cattle. Know the rules before you drop a seed into the ground after prevent plant. This is one area with no “gray” area, according to Cara Riekhof, agent with Crop Insurance Solutions, Inc., in Higginsville, Mo. Get to Know the Rules. Hot Springs Hemp Company First to Secure Farming in Arkansas New Age Hemp LLC of Hot Springs ...
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12 Great Plains Bankers Share Economic Insights Farm income and agricultural credit conditions continue to deteriorate, according to the latest Ag Credit Survey by the Federal Reserve Bank of Kansas City. “With low income weighing on farm finances, the pace of decline in farm loan repayment rates increased slightly,” write Nathan Kauffman, vice president and Omaha branch executive, and Ty Kreitman, assistant economist, for the Federal Reserve Bank of Kansas City. “In addition, carry-over debt increased again for many borrowers and bankers continued to restructure debt and deny a modest amount of new loan requests due to cash flow shortages.” Read what ...
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The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) released their new textbook, Valuing Rural America: Foundations of Data Analysis. This new textbook expands and updates methodology for appraisers of all career stages and experience levels and takes the body of knowledge in rural appraising to a new level. Chief writer, Justin Bierschwale, ARA, MAI explained, “Most of the published literature in the appraisal profession deals with urban appraisal topics. Few resources address rural property appraisal, and those that have been published really focus on production agriculture.” Today’s appraisers also deal with mountain and recreational land ...
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Experts: SGMA Begins to Affect Land Values By now one would suspect that the California Sustainable Groundwater Management Act (SGMA) is “old news,” something that is firmly ensconced in the minds of farmers and real estate investors as the first of several deadlines loom. Nevertheless, I understand from rural appraisers attending the recent Outlook Conference – the annual meeting of the California chapter of the American Society of Farm Managers and Rural Appraisers – that SGMA was apparently not on the minds of everyone considering a farm real estate transaction last year. Each year the California chapter publishes its Trends Report, a synopsis of farm ...
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