9 minute read
Farm Programs
THIESSE, from pg. 24
86 percent.
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Final 2023 ARC-CO revenue per acre is determined by the final 2023 county yield multiplied by the final 2023 market year average price.
ARC-CO payment per base acre is the benchmark revenue guarantee minus 2023 final revenue times 85 percent. (If the final revenue is higher than the benchmark revenue, there is
See THIESSE, pg. 26
PLC and ARC-CO Farm Program Comparison Table
2023 Farm Program Sign-Up Deadline is March 15
PROGRAM DETAILS PRICE LOSS COVERAGE AG RISK COVERAGE — COUNTY (PLC) (ARC-CO)
Base Price • Crop Reference Price • Benchmark (BM) Price. • Reference Prices for 2023: • Higher of the Reference Price or Corn = $3.70/bu. the five-year “Olympic” ave. price. Soybeans = $8.40/bu. (2017-2021 Final MYA Price) Wheat = $5.50/bu. • 2023 BM Prices: Corn = $3.98/bu. Soybeans = $9.57/bu. Wheat = $5.50/bu.
Final Price • 12-month national market year • Same as for PLC. average (MYA) price for 2022-23. • 2022-23 MYA Price Est. (as of Sept. 1, 2023 to Aug. 31, 2024 Jan. 1, 2023) for corn and soybeans. Corn = $6.80/bu. June 1 to May 31 for Wheat. Soybeans = $14.00/bu. Wheat = $9.20/bu. Payment Yield • Farm Unit FSA program yields. • County Benchmark (BM) Yields. The FSA program yields on Five-year (2017-2021) rolling individual farm units that were “Olympic” average. County last updated in 2020. RMA yield (Trend Adj.). 2023 — No increased yields • Harvest yield is the final county available. average yield (RMA data). Payment Revenue N/A • BM Revenue = County BM Yield times BM Price • Revenue Guarantee = BM revenue times 86 percent (.86) Payment Acres • 85 percent (.85) of Base Acres • 85 percent (.85) of Base Acres for an eligible crop. for an eligible crop. Payment Formula • PLC Payment per Base Acre = • ARC-CO Payment per Base Acre = (Ref. Price minus Final MYA Price) Revenue Guarantee minus Final times FSA Yield times .85 County Revenue (Final Co. yield times • If the final MYA price is higher final MYA price) times .85 than the Ref. Price, there is no PLC • If the final County Revenue payment for that crop. is higher than the Revenue Guarantee, there is no ARC-CO payment for that crop. Maximum Payment • (Ref. Price minus Nat. Loan Rate) • County BM Revenue times .10 (Per Crop Base Acre) times FSA Yield times .85 times .85 Payment Limits • $125,000 per individual or entity. Same as PLC. • $900,000 max. adjusted gross income on Federal Tax Return. SCO Insurance • Available up to 86% coverage. N/A Coverage • Must sign-up by March 15. FSA Farm Program Details on MYA prices, benchmark prices and yields, etc. are available at Data and Information www.fsa.usda.gov/arc-plc
2023 Subscription Form
Please complete the form below. Sign and date, include your check and put it in the mail.
I own or operate 80+ acres of Minnesota and/or Northern Iowa ag cropland, raise 25+ head of livestock or am actively involved in agribusiness. Full Year Voluntary Subscription: $49 Other
I do not qualify but would like a one-year subscription. Full Year Subscription: $49
Important – Please check all boxes that best match your farming operation. Acres 1-99 100-249 250-499 500-999 1000+
Corn Soybeans Alfalfa Wheat Sugar Beets TOTAL ACRES
Livestock Head
Hogs marketed
1-99 100-249 250-499 500-999 1000+
Sheep raised
1-99 100-249 250-499 500-999 1000+
Beef Cattle marketed
1-99 100-249 250-499 500-999 1000+
Dairy Cattle milked
1-50 51-99 100-199 200+
Data will NOT be sold.
Mail to: THE LAND 418 South Second Street • Mankato, MN 56001
PLEASE PRINT Name ______________________________________________________________________________
Mailing Address ____________________________________________________________________
City, State, Zip______________________________________________________________________
Phone # ____________________________________________________________________________
E-mail Address _____________________________________________________________________
NYSTROM, from pg. 23
Other changes on the balance sheet included exports falling by 55 million bushels to 1.99 billion bushels. The residual line was lowered by 4 million bushels resulting in a 10 million bushel drop in ending stocks to 210 million bushels. Ending stocks dropped 10 million bushels from last month to 210 million bushels, the lowest in seven years, and compared to 236 million estimated. The stocks-to-use ratio went from 5 to 4.8 percent and the average farm price rose 20 cents to $14.20 per bushel. December 1 soybean stocks were 3.022 billion bushels and 110 million lower than the 3.132 billion bushel trade guess and below the lowest outlook. The miss was the largest vs. estimates in at least 33 years.
World ending stocks were 103.52 mmt vs. 101.69 mmt estimated and 102.71 mmt last month. The USDA slashed Argentina’s soybean production by 4 mmt to 45.5 mmt. Their exports were lowered 2 mmt to 5.7 mmt. The BAGE has it at 41 mmt while the Rosario Grain Exchange has it at a dismal 37 mmt. Their soybean crop is rated just 4 percent good/excellent with 23 percent blooming, according to the BAGE.
The trade group Anec says Argentina has been buying Brazilian soybeans in what was described as “atypical” purchasing. Brazil’s production was raised 1 mmt to 153 mmt and exports were raised 1.5 mmt to 91 mmt. Conab updated Brazil’s soybean production by trimming it to 152.7 mmt, still a record and 27.2 mmt higher than last year. China’s imports were cut 2 mmt to 96 mmt and their production was raised 1.9 mmt to 20.3 mmt.
March soymeal zipped to match the contract high to begin the week before moving sideways before the report. March soyoil showed upside promise to begin the week but traded to its lowest price since Dec. 19 in pre-report trading. Soybean carries narrowed on the board throughout the week. Argentine growers have sold an estimated 80.4 percent of last year’s soybean crop compared to 81 percent sold by this date last year, according to their ag ministry.
Weekly export sales were 26.4 million bushels and within expectations. Total commitments at 1.632 million bushels are up 4.6 percent from last year. The USDA is forecasting a decline of 7.85 percent in yearon-year exports based on the updated export outlook of 1.99 billion bushels. Outlook: November soybeans traded at $14.00 or higher every day this week but failed to close above it. This will be first resistance for this contract. The weather in Argentina and southern Brazil will be a featured focus in the coming weeks as it has been for the last few months. If the weather turns around, crop estimates may improve.
For the week, March soybeans rallied 35.25 cents to $15.27.75, July gained 23.25 cents to $15.25, and November fell 4.25 cents to $13.93 per bushel.
Weekly price changes in March wheat for the week ended Jan. 12: Chicago wheat eked out a quartercent gain to $7.43.75, Kansas City was 11.75 cents higher at $8.43.75, and Minneapolis was 10.25 cents higher at $9.12 per bushel. v
no 2023 ARC-CO payment.)
Refer to the adjoining tables (2023 Farm Program Decision Table and PLC and ARC-CO Farm Program Comparison Table) for key points the regarding 2023 farm decision for corn, soybeans and wheat for the 2023 crop year.
For official information on PLC and ARC-CO programs, and other farm program details, go to the FSA farm program website at www.fsa.usda.gov/arcplc. For a listing of 2023 benchmark yields for all crops, refer to www.fsa.usda.gov/programs-and-services/arcplc_program/arcplc-program-data/index.
Some good farm program decision tools to assist producers are available from North Dakota State University (www.ag.ndsu.edu/farmmanagement/ farm-bill); Kansas State University (www.agmanager.info/ag-policy/2018-farm-bill); University of Minnesota Extension (https://extension.umn.edu/ business/farm-bill); and the University of Illinois FarmDoc website (https://farmdocdaily.illinois.edu/ category/areas/agricultural-policy/farm-bill).
Kent Thiesse is a government farm programs analyst and a vice president at MinnStar Bank in Lake Crystal, Minn. He may be reached at (507) 726-2137 or kent.thiesse@minnstarbank.com. v
Good program information is available online
THIESSE, from pg. 25
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Feed Seed Hay
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FOR SALE: Alfalfa 60 small squares, fine stemmed, no rain. Goat Hay, also meadow grass hay. Evenings 507380-9374
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Bins & Buildings
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ADVANCE NOTICE
Thank You Farmers!
507-236-9446
PRIME BLUE EARTH COUNTY DECORIA TOWNSHIP FARMLAND AUCTION
TUESDAY, FEBRUARY 14, 2023 –10A.M. SALE LOCATION: THE UPTOWN TAVERN, ST. CLAIR, MINNESOTA
PROPERTY LEGAL DESCRIPTION: S ½ OF NE ¼ EXC E1R AND EXC. S 505 FEET
Land Auction
Thursday, February 2nd - 11:00 am Auction held at: Fairfax Community Center 300 Park St S, Fairfax, MN
This is a magnificent chance to own wooded land with Fort Ridgely Creek running through it, a farm site, and approximately 13.12 ac of tillable land. You do not want to miss this auction! Location of property within Renville County: Camp Township, Section 13 This property will sell as one parcel:
37.32 total acres, approx. 13.12 acres tillable. Productivity Index: 71 Farm Site Address: 45738 630th Ave, Fairfax, MN The farm site has a driveway, utilities, and a few outbuildings. An easement is in place along an existing field road on the east side of the property for access to the land north of this parcel.
*Note: All acres are published based on Renville County Online Records & FSA records. All maps are a representation.
In case of severe weather, listen to 860 AM KNUJ & 107.3 FM SAM 8:30 the morning of the auction for postponement & rescheduling info.Blizzard Date is February 7th ~ 11:00 am METHOD OF SALE: THE PROPERTY WILL BE OFFERED IN ONE TRACT OF 73.5 ACRES MORE OR LESS FOR MORE DETAILED INFORMATION GO TO WEBSITE: CLARKAUCTIONS.COM
CROP PRODUCTIVITY INDEX RATING :92
OWNERS: ROBERT AND KAREN BUESING
AUCTIONEER: CLARK AUCTION SERVICE, LLC STEVEN FAUSCH – 507-399-6062 • JERRY CLARK – 515-320-2213 DAVID GUERDET – 712-363-4799
Owner: Judy Farrell
Listing Auctioneer: Matt Mages, 507-276-7002, Lic 52-22-018
Auctioneers: Matt Mages, Larry Mages, Joe Wersal, Joe Maidl, John Goelz, & Ryan Froehlich Broker/ Clerk: Mages Land Co. & Auction Service, LLC. Not responsible for accidents at auction or during inspection. Everything sold “AS IS”. Everything to be settled immediately after the auction. For all full terms and bidding go to magesland.com. magesland.com
