Economics
Estate planning for farm ground
In the February issue of Wheat Life, I discussed what kind of entity farm ground should be held in. I have had several people follow up, asking how to transition their farm ground without setting up an entity like an LLC. While I believe an LLC has several advantages, it…
Looking ahead
Last month, Dr. David Kohl warned producers that a period of extreme economic volatility is approaching, but along with the challenges it will bring, there will also be opportunities for producers who are prepared. “I think it’s a new era of prosperity if you follow a certain management mindset. If…
Future uncertainty will require careful management
The financial bottom line will be a key element in any farm and ranch game plan in 2022 and beyond. While the past two years have been both financially and mentally challenging, managing through uncertainty has had a silver lining. Prices for many commodities increased dramatically prior to inflating costs,…
Estate tax woes
Farmers in Washington state face an extra tax at death that most other farmers in the U.S. do not. That is a Washington state estate tax. Oregon also has this tax, along with about 15 other states, primarily in the Midwest or back East. Even California no longer has an…
ARC or PLC?
Randy Fortenbery, a Washington State University agricultural economics professor, is well known for his presentations on the markets. He appeared last month in a 2022 Agricultural Marketing and Management Organization (AMMO) seminar, but he also writes a regular column in Wheat Life, which in this issue, is very similar to…
Caution: Market opportunities ahead
In the past decade, South and Southeast Asia have become one of the U.S. wheat industry’s most important markets, accounting for nearly a quarter of all U.S. wheat shipments. Despite some significant challenges over the past year, Joe Bippert, assistant regional director for U.S. Wheat Associates (USW), believes there is…
Questions to ask before signing a farm lease
As the end of the year approaches, it’s a good time for landlords to review their farm leases. The Center for Agriculture and Food Systems at the Vermont Law School has developed an online Farmland Access Legal Toolkit to provide a resource for both landlords and farm tenants. The toolkit…
A view of the farm from the road, cyberville
The song, “On the Road Again,” by Willie Nelson would be very appropriate for my summer travels engaging with producers, lenders and agribusinesses. The spectrum of audiences and events ranged from multiday young farmer and rancher conferences to lending schools, online events and the occasional strategic planning venue where I…
Where to find marketing tips for beginners
Nonfarming landlords and beginning farmers who want to learn to market their own wheat have options…it might just take a little leg work. “The secret is education and understanding what it is you are doing and the ramifications of your decisions,” explained Kevin Duling, co-founder and manager of KD Investors,…
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