Minding Ag's Business

Truth Serum for Crop Insurance Costs

Tue, 21 May 2013 20:52:00 GMT

Big $17 billion in indemnities on the 2012 drought don't equate to true cost for taxpayers. Some years taxpayers make a profit on crop insurance, so the 12-year average is closer to $5 billion.

Foreign Ownership Ban Retained

Mon, 20 May 2013 20:39:00 GMT

Wisconsin state legislators have blocked an effort by Gov. Scott Walker to lift the state's long-time limits on foreign ownership of farmland, legislative staffers and lobbyists tell DTN.

Tea Party Isn't Only IRS Victim

Fri, 17 May 2013 16:35:00 GMT

Mild-mannered CPA Andy Biebl has complained in pastDTN columnsabout the increasing mischief he's observed in IRS audits, leaving some small business ownerswith six-figure tax bills when they have 100% of the law on their side.

Crop Insurance Rebuttals

Wed, 15 May 2013 20:26:00 GMT

Critics like Iowa State University economist Bruce Babcock argue crop insurance overhead and premiums subsidies are bloated (see DTN's "Raising Cain Over Crop Insurance," http://goo.gl/5BnR7 in top news.) In a recent study for the Environmental Working Group, he contends that the harvest-price adjustment used in popular revenue insurance products more than doubled the cost of 2012's claims.

Insurance Tilts Toward Planting

Mon, 13 May 2013 19:33:00 GMT

Late planting already is generating buzz about what crop insurance will and won't cover, especially around the saturated Prairie Pothole region of the upper Midwest. It's worth reviewing the rules because in some instances, eligibility for prevented planting will be determined on a case by case basis, the Risk Management Agency tells DTN.

Ag Employers Unite on Immigration

Mon, 06 May 2013 16:43:00 GMT

Members of the Agricultural Workforce Coalition remain optimistic that their version of a new farm guest worker program will be a centerpiece of the Senate's immigration reform bill when markup starts this week.

Do Your Homework on Health Care Law

Tue, 30 Apr 2013 23:02:00 GMT

Small business owners may escape the "pay or play" employer mandates when Obamacare reforms become effective January 1, 2014. But it's worth doing your homework now so you know which mandates apply to you as phase-in of the Affordable Care Act (ACA) law gears up.

What Really Moves Farmland Values

Mon, 29 Apr 2013 21:06:00 GMT

Some of my readers blame crop insurance first and foremost for the unprecedented runup in land values. So I went back to college to check the facts.

Farmland Apocalypse?

Wed, 17 Apr 2013 22:27:00 GMT

There's little disagreement we're in a farmland bubble now. The only controversy is how it will end and whether it will be tougher on renters or owners.

Affluenza Strikes Again

Wed, 17 Apr 2013 22:27:00 GMT

Affluenza struck most grain farms again in 2012, catapulting the average 883-acre Southwest Minnesota farmer to about $375,000 income levels for the first time in history, up 38% above 2011's record, according to a new report from the SW Minnesota Farm Business Management Association.

More Haircuts for Crop Insurance

Thu, 11 Apr 2013 22:01:00 GMT

President Obama's proposed 2014 budget released this week outlines five potential cuts in crop insurance subsidies. Altogether they'd trim an estimated $11.7 billion from crop insurance's federal budget over 10 years, with some targeted at raising the cost of producer premiums and others raising administrative costs of private insurers.

Ag Logjam on Immigration Reform

Wed, 10 Apr 2013 16:29:00 GMT

Congressional leaders appear close to striking a deal on key parts of immigration reform, but about the only thing that agriculture players can agree on is the need for reform, not the solution. That means somebody--organized labor, employers or closed-border advocates--will need to bend or be left in the cold.

Monitor Your Marketing Plan

Mon, 08 Apr 2013 19:07:00 GMT

If J.P. Morgan Chase-- or its trader known as the London Whale--really understood its market exposure, perhaps the company wouldn't have lost $6 billion in that convoluted synthetic credit default swap deal last year.

Can We Trust Government Statistics?

Tue, 02 Apr 2013 20:02:00 GMT

Big corn yield swings in neighboring counties meant more than a $600/acre difference in insurance payouts on identical policies. That has some farmers questioning NASS numbers.

Growers Buy Up 2013 Insurance

Fri, 22 Mar 2013 18:51:00 GMT

Official reports aren't yet tallied, but farmers are likely to have insured higher levels of revenue coverage for 2013 crops when they enrolled in crop insurance March 15. More than half of the 439 farm subscribers surveyed by DTN in early March planned to buy the same level of revenue coverage as in 2013; another 29% intended to boost their insurance levels.