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Commodity Communicator Weekly

June 22, 2012

HOUSE AG COMMITTEE BUMPS FARM BILL TO JULY. . . . .The House Agriculture Committee announced earlier this week that it was postponing its consideration of a farm bill draft until July 11. The committee was originally slated to take the legislation up next week.  House Agriculture Committee Chairman Frank Lucas (R-Okla.) said the main reason for the delay is the Congressional Budget Office’s ongoing review of the House draft.
 
Politico article  


WHITE HOUSE THREATENS VETO OF HOUSE AG APPROPRIATIONS
. . . . .President Barack Obama on Thursday said he would veto the House’s version of the 2013 Agriculture Appropriations bill if it comes across his desk.  The administration’s biggest problem with the bill is that it falls far short of the funding Obama recommended for the Commodity Futures Trading Commission. The Wall Street reform law gave the commission significant additional oversight authority.  “The bill severely undermines key investments in financial oversight in a manner that would cripple Wall Street reform,” the White House said in a Statement of Administration Policy. “It also imposes harmful cuts in rural economic development, renewable energy development, nutrition programs, food safety and international food aid.”
 
Statement of Administration Policy    
       
The Hill article  

House Appropriations Committee news release 


MEMO HIGHLIGHTS NEEDS FOR TAX EXTENDERS. . . . .A memo released earlier this week from the Joint Committee on Taxation shows that unless Congress acts before the end of the year to extend a slew of expiring tax provisions, like those related to bonus depreciation and small business expensing, many small business owners will find themselves owing the IRS big.  According to the JCT, in 2013, nearly 1 million business owners will have incomes that put them in the top two tax rates, 36 percent or 39.6 percent. In addition, marginal rates on more than half of all S corporations, partnerships and small proprietors would go up.  Farm Bureau’s biggest tax priority for 2012 remains a continuation of the current estate tax exemption of $5 million per person, indexed to reflect land values, maintenance of the spousal transfer and an extension of the top tax rate of 35 percent.  Farmers and ranchers consider the extension of a number of other tax incentives to be important as well, including those related to renewable fuels, charitable food donations and equipment depreciation, to name just a few.
 
 
PURDUE RELEASES DETAILS OF AIR EMISSIONS STUDY. . . . .Agricultural engineers ran testing equipment continuously during 2007 to 2009 in their quest to evaluate the level of air emissions emanating from 20 selected farms and 35 barns in eight states across the country. The monitoring program took readings from the majority of these farms, which included five dairies, five pork production sites, three egg layer operations and one broiler ranch, according to Al Heber, professor in Purdue University’s Agricultural and Biological Engineering Department and principal investigator along with Richard Grant, professor of agronomy at Purdue.
From those emissions results, Heber says it appears in the two years that it took to compile and analyze the massive amount of statistical data, pork producers stand an overall good chance of not having to implement pollution controls on their farms. They may need to report emissions of one or two pollutants. (Excerpt from National Hog Farmer, Joe Vansickle)

To read the article, click on the following link: National Hog Farmer - Air Emissions Study


CORN WEBINAR THURSDAY AT 11 AM. . . . .Recordings of the weekly corn producer webinars are available online at http://www.arfb.com/media-communications/webex/default.aspx  The first two webinars covered fertilizer timing, nutrient deficiencies, insect threats and more.  The series will continue throughout the growing season on Thursdays at 11a.m.  To join the conference, follow the instructions below:

You have 3 options to join:
Option 1:  Download WebEx Ap and Join from Smartphone or Tablet
             Click the link: https://arfb.webex.com/arfb/j.php?ED=198284012&UID=0&PW=NMzEzZTJkMmI3&RT=MiM3
            OR
            Open the Ap: Enter Meeting Number: 572 822 694 and Password: WCPU12
Option 2:  Call 1-877-668-4490
            enter Meeting Number/Access Code: 572 822 694
            when asked for attendee ID press #

Option 3:  Join from Computer  
            Click the link: https://arfb.webex.com/arfb/j.php?ED=198284012&UID=0&PW=NMzEzZTJkMmI3&RT=MiM3
            Enter your name and email when prompted and click "Join Now".
            Say Yes or OK to any boxes which pop up
            Click Join using computer or enter your phone number area code first to have WebEx call you back


GENERAL MOTORS PRIVATE OFFER
. . . Members can save $500 on qualifying 2011/2012 model year Chevrolet, GMC or Buick vehicles. Complete details at http://www.arfb.com/member_services/

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