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Showing posts from September, 2017

Friday’s USDA Grain Stocks Unlikely to Change Corn Market

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Friday’s USDA Grain Stocks Unlikely to Change Corn Market
Todd Hubbs, Agricultural Economist - University of Illinois Friday the United States Department of Agriculture will close out last fall’s harvest and marketing year with the release of the fourth quarter Grain Stocks report. Todd Gleason reports it is not expected to impact the price of corn.

Fall Garden Mums in the Garden

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Fall Garden Mums in the Garden
Kari Houle, Extension Horticulture - University of Illinois
read blog postIt’s easy to buy potted mums in the fall, but did you know you can put them right into the ground. Next year they’ll come back. Todd Gleason has more from the University of Illinois…

Planting Trees in the Fall

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Planting Trees in the Fall
Beth Allhands, University of Illinois ExtensionWith a few exceptions fall is the best time to plant trees. Todd Gleason has more on the reasons why and some how-to advice from the University of Illinois.

Margin Protection Crop Insurance Decision Due

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Margin Protection Crop Insurance Decision Due
Gary Schnitkey, Extension Agricultural Economist - University of IllinoisFarmers have until the end of this month to decide if they’d like to take USDA’s new Margin Protection Crop Insurance plan. Todd Gleason has more…Known as M-P, the program most closely aligns…
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1:18 radio self-containedKnown as M-P, the program most closely aligns with the current A-R-P, or Area Revenue Protection crop insurance plan. University of Illinois Agricultural Economist Gary Schnitkey says while there are difference the one of note is the price setting period. It locks in input prices (the margin) based on corresponding futures traded in Chicago for urea, DAP, diesel fuel, and interest rates. Schnitkey :18 …that would be an advantage.Quote Summary - The other side of it you might be interested in is setting a projected price now versus in February. We know that our projected prices for Margin Protection insurance are $3.96 for corn and…

Plan for Big Medicare Premiums After Big Income Years

If you’re on Medicare and happen to have an unusually high taxable income year it will raise your premiums, but not right away. Todd Gleason has more from the University of Illinois Tax School. Two years after a big income year the Federal government takes some of that money back by increasing Medicare premiums says Bob Rhea (ray), a presenter for the U of I Tax School.Quote Summary - For people who are drawing Medicare and paying Medicare premiums the IRS has a rule that says if you have a large income in one year, we wait two years and then look back and determine if you need to pay a higher Medicare premium because you had high income two years prior. Rhea says a typical Medicare Part B and Part D prescription drug plan runs about $150 per month or about $3,600 per year for a married couple. He says it is possible for that to balloon to as much as $12,000 for a single year event because of the sale of a business or other asset. Quote Summary - And we don’t find that out until two y…

Plan for Big Medicare Premiums After Big Income Years

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Plan for Big Medicare Premiums After Big Income Years
Bob Rhea, University of Illinois Tax School Lecturer | FBFMIf you’re on Medicare and happen to have an unusually high taxable income year it will raise your premiums, but not right away. Todd Gleason has more from the University of Illinois Tax School. Two years after a big income year the Federal…
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1:17 radio self-contained Two years after a big income year the Federal government takes some of that money back by increasing Medicare premiums says Bob Rhea (ray), a presenter for the U of I Tax School.Rhea :20 …had high income two years prior. Quote Summary - For people who are drawing Medicare and paying Medicare premiums the IRS has a rule that says if you have a large income in one year, we wait two years and then look back and determine if you need to pay a higher Medicare premium because you had high income two years prior. Rhea says a typical Medicare Part B and Part D prescription drug plan runs about $1…

Big Income Years Impact Medicare Premiums 2 years Out

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Big Income Years Impact Medicare Premiums 2 years Out
Bob Rhea, University of Illinois Tax School Lecturer | FBFMFarmers, business owners, and others on Medicare might find a bigger bill in the mail than expected. Todd Gleason has more on how big income years produce big Medicare premiums two years later.

Margin Protection Insurance | an interview with Gary Schnitkey

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Margin Protection Insurance | an interview with Gary Schnitkey
Gary Schnitkey, Extension Agricultural Economist - University of IllinoisGary Schnitkey assesses the value of Margin Protection Insurance against ARP and RP plans.

Growmark Introduces Simulator to Train Drivers

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Growmark Introduces Simulator to Train Drivers
Erik Wilcox, Equipment Manager - GrowmarkWe often hear about pilots using simulators to train before they actually fly. As of this year Growmark FS is using a simulator to train its sprayer operators. Todd Gleason has more. This month the company invited reporters to its…
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1:40 tv cgThis month the company invited reporters to its training center in Bloomington, Illinois and after a brief introduction invited them to take a spin in their brand new RoGator. Not a real one, but a simulator that seems pretty darned real even, says Growmark Equipment Manager Erik Wilcox, to those that drive the sprayer for a living. Wilcox :18 …we are headed in the right direction.Quote Summary - I’ve had a lot of doubting Thomases come in and say, “this is just a video game and not anything worthwhile” and with each and every one of them I challenge them to just get on and give me the feedback. Every on…

Corn and Soybean Production Outlook in 2017–18

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Corn and Soybean Production Outlook in 2017–18
Todd Hubbs, Agricultural Economist - University of Illinois Given the price reaction, the market remains uncertain about the USDA’s September forecast of 2017 corn and soybean production. Todd Gleason has more with the commodity markets specialist from the University of Illinois.

$45 Million for Photosynthesis Research

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$45 Million for Photosynthesis Research
(R) IL 13th, Representative Rodney Davis - United States CongressLast Friday (week / Sep 15, 2017), as Todd Gleason reports, political and agricultural leaders gathered on the University of Illinois campus to see transformative work by scientists in photo-synthetic efficiency. Actually it’s a project called R.I.P.E (ripe)….
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2:02 tv cgActually it’s a project called R.I.P.E.. That stands for Realizing Increased Photosynthetic Efficiency. It is a $45 million, five-year reinvestment from the Bill & Melinda Gates Foundation (BMGF), the Foundation for Food and Agriculture Research (FFAR), and the U.K. Department for International Development (DFID). Illinois Congressman Rodney Davis, a member of the House of Representatives ag committee toured there research facilities, fields, and labs. He says he was impressed (tv skip to soundbite #2).Davis :41 …on less land to feed more people years fro…

Reducing Regs Would Benefit Low-Income Households & Farmers

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Reducing Regs Would Benefit Low-Income Households & Farmers
Craig Gundersen, Agricultural Economist - University of IllinoisThe Senate Ag Committee Thursday (today/yesterday) held a hearing on USDA’s food and nutrition programs and how they relate to the farm bill. On that subject, Todd Gleason reports, a University of Illinois agricultural economist thinks the divide between farmers and those using SNAP, the Supplemental Nutrition Assistance Program sometimes called food stamps, should probably close ranks around a couple of issues, including governmental regulations.1:39 radio
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TV VOICERThe U of I’s Craig Gundersen says there’s plenty of common ground for farmers and low-income households to plow and it all involves back pocket issues. Gundersen :35 …would have a huge benefit for low-income households.Quote Summary - One of the keys ways that we can eliminate food security in the United States is to make sure food prices are low. Low food pr…

Storing Corn and Soybeans in 2017

The current price structure of corn and soybean futures markets indicate positive carry in both markets and raises the question of whether producers should make decisions about grain sales. Todd Gleason reports the decision by producers to store corn or soybeans should be determined by the returns to storage.There will be a lot of corn around this fall…
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Storing Corn and Soybeans in 2017
Todd Hubbs, Agricultural Economist - University of Illinois
read blog postThere will be a lot of corn around this fall. USDA projects about sixteen-and-half billion bushels when you add what’s leftover from last year to this year’s harvest. It is projecting about four-point-eight billion bushels of soybeans. That’s a lot of both crops, but University of Illinois agricultural economist Todd Hubbs isn’t worried about running out of space to store it. In fact, the market is urging farmers to go ahead and store both crops at the moment by pricing futures con…

Interviews from the Farm Progress Show

How Harvey Will Impact Fuel Supply Infrastructure
Dave Chatterton, Powerline Group - Champaign, IllinoisMonday Todd Gleason spoke with Dave Chatterton at the Powerline Group about how Hurricane Harvey is impacting the nation’s fuel supply infrastructure.Southern States Crop Tour Review
Jeremy Wilson, Crop IMS - Effingham, Illinois The corn crop in the south is good. Very good in fact. Todd Gleason talks with Jeremy Wilson from Crop IMS.Discussing Dicamba Damage with Robb Fraley
Robb Fraley, Monsanto Company - St. Louis, Missouri Doug Maxwell, Crops Researcher - University of IllinoisMonsanto’s Robb Fraley dropped by the University of Illinois tent at the Farm Progress Show to talk about dicamba and soybeans. Todd Gleason has more…Recruiting Higher Ed Ag Students to Illinois UniversitiesRecruiters from Illinois State, Southern Illinois, Western Illinois, and the University of Illinois are planning to work together to keep more agricultural students in state. Todd Gleason discussed the …