Posted on November 26, 2019
If China agreed to purchase “$40 to $50 billion” of U.S. farm goods in “the next two years,” as President Donald J. Trump announced Oct. 11, the futures market—where market reality is quickly sorted from political talk—literally wasn’t buying it.
In fact, November soybean futures, the nearby contract, opened Monday, Oct. 14 at $9.405 per bu. and […]
Posted on October 29, 2019
If government and private estimates are accurate, hundreds of millions of American farm acres will have new owners in the next 15 years.
For example, the National Agricultural Statistics Service, the Department of Agriculture’s (USDA) survey takers and record keepers, predicts that 100 million acres of today’s farmland will be sold by its current owners by 2023.
Posted on October 16, 2019
Some years ago, I wrote a column on how farm groups sternly preached the value of what they reverently called “sound science” but, in fact, usually endorsed only “science that sounds good” to the groups.
Not coincidentally, I noted, most of that good-sounding science was “science” tied to research bought-and-paid-for by the groups themselves.
Examples of this […]
Posted on August 29, 2019
On the farms of our youths, the dog days of August featured actual dogs and not a whole lot of anything else.
Given the unsettled state of today’s growing season, commodity markets, and politics, maybe the best way to get through this August is to slide back to that era and just not say […]
Posted on July 31, 2019
Look out, rural America, Congress is headed your way during its annual month-long break in August and its members want to talk trade, trade, and trade.
They don’t, however, want to talk about America’s flagging 2019 ag exports or the still-in-place, retaliatory tariffs that are clipping U.S. exports.
No, rural America’s almost entirely Republican […]
Posted on June 5, 2019
It’s a truism in American agriculture that food-growing technology undergoes an industry-shaking metamorphosis every generation.
When Grandpa (both yours and mine) farmed, hybrid seed corn came in and oat-eating horsepower went out. His sons, our fathers, were early adopters of anhydrous ammonia, 2,4-D, and, whoa, combines.
Twenty-five years later, our generational farm-changing moment arrived with […]
Posted on May 30, 2019
Decades ago, when discussing the complexity of U.S. tax code, an ag lobbyist friend noted that all he wanted in any tax reform “was to pay the same taxes the generals paid: General Mills, General Motors, General Dynamics…”
He’d still take that deal. In 2018, General Dynamics had an effective tax rate of 17.8 […]
Posted on May 2, 2019
If what we’re seeing now is the Trump trade “strategy”—cram trade talks between the U.S. and China, the U.S. and Japan, and the U.S. and European Union (E.U.) into an ever-tightening window—export-dependent American farmers and ranchers are in serious trouble for several reasons.
The first reason is the relentless calendar. Trade talks require years […]
Posted on March 22, 2019
To most farmers and ranchers, “sustainable” is a word that, like exercise or vacation, has a dictionary definition and a personal definition. The difference between the two, however, often is the difference between the county fair and the World’s Fair.
These folks aren’t alone. Almost everyone and everything from commodity groups to coal companies make […]
Posted on March 14, 2019
One of the oldest theoretical constructions in economics declares that in a perfect market, short term profits and losses eventually even out so that, in the long term, all profits are zero.
Famed 20th century English economist John Maynard Keynes gets credit for restating this jargon-rich theory into clear, concise language when, in 1923, he wrote, […]