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Dairy Revenue Protection Program Announced

Dairy Revenue Protection (DRP) is a new federally subsidized insurance plan specifically for dairy producers. DRP protects revenue based on price and production.

 

Coverage is provided on declines in quarterly revenue from milk sales relative to the guaranteed coverage level.

 

DRP is an area-based plan of coverage and does not insure a dairy’s individual milk production. Production for the insurance period will be determined on the state-level with milk production reports from the National Agricultural Statistics Survey.

 

Coverage is available quarterly and can be purchased into the next year. Daily quotes are available for up to five quarters and endorsements may be purchased daily. The chart below details the purchasing windows.

 

 

To determine the level of coverage, dairy producers must decide on the following:

 

The value of the milk protected – class or component pricing

     Class Pricing – uses Class III or Class IV futures prices
     Component Pricing – uses component milk prices for butterfat protein

 

The amount of milk production to cover
     Determined by the producer and can be less than the actual quarterly estimated production.

 

Coverage level from 70-95% with a protection factor up to 150%

 

Quarterly endorsement based on the current sales period

 

Contact your local crop insurance agent to learn more about how Dairy Revenue Protection can work for your operation.

 

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Winners Announced at Greater Peoria Farm Show Antique Tractor Exhibit Judging Sponsored by WHOW

WHOW THE BIG 1520 across Central Illinois, 92-point-3 FM in DeWitt County, and 106-point-5 FM in Logan County, again sponsored the Antique Tractor Show Contest at this week's Greater Peoria Farm Show.

 

Attendees were invited to submit their favorite antique tractors on display, on ballots during the show.

 

WHOW announced those winners today on its Noon Farm Show.  They included first place winner being a Farmall 460 owned by Roger Henderson, of Jacksonville, IL who won a 150-dollars from WHOW.

 

Second place was a 1951 Oliver 77 owned by George Weyrich of San Jose, Illinois, who won a 100-dollars from WHOW.

 

Third place winner was a 1944 VA Case owned by Robert Blue, of Canton, Illinois, who won a 50-dollars from WHOW.

 

WHOW and the Greater Peoria Farm Show thank all the antique tractor owners that brought their machinery to this year's show.

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Five Factors Affecting Local Land Values

For the last four years, the land value benchmark study completed by FCI each summer has shown an overall decline in value. But in certain cases, values have risen year after year. What factors affect the overall trend in your local market? Download the full 2018 report for detailed findings.

 

1. Commodity Prices
Land values typically correlate with commodity prices. When one goes up, the other follows suit, helping fuel the dramatic rise in land values from 2003-2014 and contributing to declining values since 2015.

2. Trade
 Exports are crucial to corn and soybean pricing. Illinois farmers are expected to export 2.225 billion bushels of the 2018-2019 corn crop and 2.04 billion bushels of new crop soybean, according to a July USDA report. If trade negotiations are made, a small correction to commodity prices may prove beneficial. However, if negotiations drag on and tariffs remain, commodity prices will remain low, translating to lower Illinois land values.

3. Rising interest rates
 Historically low interest rates from 2008-2015 made the cost of borrowing money for land owners and farm operators decrease, allowing for increased investment. The cost to borrow money has increased as the FOMC raised rates by a quarter point seven times so far since 2015. Each hike reduces the demand for farmland and increases the competition of other investment opportunities.

4. Supply and Demand
 Currently in Illinois, less than one percent of farmland transfers ownership in a calendar year. A large amount of farmland was sold before the end of 2012 in response to the possibility of changes to capital gains tax law. Since then, the volume of farm sales moderated and remains low. Even with signs of reduced working capital on some farms, there haven’t been many liquidation sales coming to the market. This lower supply coupled with steady demand, have caused prices decrease only slightly.

5. Location

 As with all real estate, location is key. Certain areas of the FCI territory remain closely held by a small number of owners. When a farm becomes available in these areas, there is more than sufficient demand, driving prices above typical market values. 

Factors within and outside your local region contribute to its land values. Overall, farm prices are expected to continue declining moderately in correlation with lower commodity prices, rising interest rates, and lower net farm incomes. However, given your area’s market condition and its specific land class, farmland can deviate from the norm.

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Local Farm Broadcaster Jared White Traveling Central Illinois Recording Combine Reports

Local farm broadcaster Jared White is traveling Central Illinois recording his popular Combine Reports.  He's riding with local farmers in their combine, recording interviews on how this year's growing season went, and how harvest is progressing.

 

 

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Jared is riding in a 2019 Chevy Silverado provided by Baum Chevrolet Buick in Clinton.  The Silverado is the Official Truck of this fall's illinoisfarmradio.com Combine Reports.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The 2019 Chevy Silverado has gotten Jared into fields to visit with Central Illinois farmers in the midst of harvest.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Its solid body style still provides Jared with a smooth ride, even among the corn stalks!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Whether the field is near an oil derrick or a township road, Jared rides in comfort in the 2019 Chevy Silverado provided by Baum Chevrolet Buick in Clinton!  The Silverado is the Official Truck of this year's illinoisfarmradio.com's Combine Reports!

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Special Article: Perception of the Illinois State Fair from a City Girl

Posted September 17, 2018

 

Rebecca Wiggins, a 16-year-old writer from Taylorvillle, attended the Illinois State Fair last month.  She provided illinoisfarmradio.com this article on her perception of the Fair from a city girl's perspective.

 

Here is Rebecca's article:

 

Attending the State Fair has always been an entertaining and enjoyable experience as a long-time resident of central Illinois. As I have grown I've discovered that there is much more to explore than just unique food combinations and thrill-inducing rides. This past week I have had the opportunity to venture through the fairgrounds learning more about agriculture and what makes this industry vital to Illinois.

 

Living in downtown Taylorville for the majority of my life, I did not have much experience when it came to farming, or even realizing how valuable the agricultural industries are to our area. I knew of agriculture and farming from observing our corn and beans growing throughout the summer along Route 48, or watching the grain trucks and tractors pull into the elevator on Route 29. I simply did not realize the impact that agriculture nor those corn and beans had on our global economy.

 

On Thursday, August eighth, I was able to attend the Butter Cow unveiling in the Dairy Building on the grounds of the fair. The reveal was preceded by a press conference, which taught me a bit more about the origins of the creation, as well as why it is such a long-time and noteworthy fair attraction each year. I learned that Illinois has over six hundred dairy farms that generate thousands of jobs. The Butter Cow has been a crowd favorite for nearly a hundred years, bringing the dairy industry to the forefront and allowing a public display of thanks to our farmers.


In a quest for even more knowledge, I looked to my friends, the Future Farmers of America (FFA), who brought a new attribute to learning, enthusiasm. I decided to hop onto the Ag Tour cart, which was being pulled by a tractor, and my journey began. The tour was extremely informational, traveling across the fairgrounds explaining several aspects of farming along the way. From dairy farming, to horse racing, to the traditional grain industry, agriculture was affirmed as the heart of the Illinois economy. The guides providing the narrative made the tour interesting, telling jokes and asking many questions to ensure we were entertained as we deepened our knowledge. I learned that successful farmers must be self-motivated and hard-working, giving me a newfound respect for them. I also discovered, after our tractor had a minor issue, that a golf cart can pull a tractor and a cart full of people!


The final stop of my pursuit to learn more about the industry was Conservation World, which was filled with educational kiosks focusing on topics across the spectrum from fishing to natural resources. Children were able to engage in fishing clinics and study about Illinois sport and native species, even participating in a hands-on experience which allowed them to touch the fish. In the Illinois Department of Natural Resources (IDNR) Education Tent, we were gifted with a pack of seeds to plant to start a pollinator garden, and learned more about the significance of natural pollinators. IDNR Forest Resources specialists were more than happy to assist in answering any questions I had about keeping our wildlife protected, and also gave me additional information on this topic.


The Illinois State Fair was an exceptional and enjoyable experience! I learned more than I ever could've anticipated in this fun and adventurous setting. I now have a profound level of appreciation for agriculture and the world around me thanks to the farmers of Illinois.

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illinoisfarmradio.com Broadcasts Live From Ag Day at Illinois State Fair August 14

illinoisfarmradio.com broadcast live from Agriculture Day at the Illinois State Fair on Tuesday, August 14th.  The broadcast featured interviews with many commodity and ag leaders across the state, to spotlight the importance of agriculture as the state's largest industry.  Current issues facing agriculture were also discussed with the guests.

 

Here are pictures of a couple of the many guests we interviewed:

 

 

Local farm broadcaster Jared White (left) interviewing Aaron Carlson with the Illinois Corn Growers Association.

 

 

Jared (right) interviewing Jim Martin, a board member with the Illinois Soybean Association.

 

Here is what the 40-minute broadcast sounded like:

 

 

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Davis Receives Friend Of Farm Credit Award: AgriBank District Farm Credit Council Honors Illinois Congressman During Annual Gathering in Washington, D.C.

Pictured above from L to R: Rod Stoll, Farm Credit Illinois vice president of marketplace engagement; Jessica Barkley; Bradley Barkley, Macoupin County farmer-veteran; Karen Neff, Farm Credit Illinois board member and St. Clair County farmer; Rep. Rodney Davis of Illinois; Steve Thursby, Macoupin County farmer-veteran; Brandi Thursby

Farm Credit Illinois farmer-veteran members were present Wednesday as the AgriBank District Farm Credit Council (ADFCC) conferred its 2018 Friend of Farm Credit Award to U.S. Rep. Rodney Davis of Illinois, who has served on the House Agriculture Committee since coming to Congress in 2013 and currently serves as chairman of the Subcommittee on Biotechnology, Horticulture, and Research.

Davis received the award for his important work on behalf of rural communities, agriculture, and the Farm Credit System. ADFCC members are in Washington to meet with members of Congress about issues important to farmers and ranchers in AgriBank’s Midwestern District. The current deliberations on the Farm Bill are foremost on their agenda. 

“The leadership Congressman Davis provides through his service on the House Agriculture Committee is critical to the well-being of our rural communities and our agricultural producers across the country,” said Karen Neff, a grain and livestock farmer from near Belleville, Ill.; a board member of Farm Credit Illinois; and ADFCC member. “We especially appreciate Congressman Davis’s efforts to ensure the crop insurance program remains an effective risk management tool to help producers deal with the uncertainties of weather and the markets. In addition to the counter-cyclical programs that are so important to producers, crop insurance is a vital component of ensuring an adequate safety net. Through his leadership on the House Committee on Agriculture, Congressman Davis ensured the crop insurance provisions remained strong in the House version of the Farm Bill.”

“It’s always an honor to be called a friend of farmers because they truly are some of the hardest working people I know,” Davis said. “What our farmers do is crucial to our economy and feeding the world. I’m proud to support their hard work in Congress by fighting to pass another Farm Bill that protects crop insurance and other policies critical to agriculture. I appreciate the Farm Credit Council and members, like Karen Neff, who continue to be a strong voice for farmers throughout Illinois.”

Farm Credit supports rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow. Farm Credit has been fulfilling its mission of helping rural America grow and thrive for more than a century by providing farmers with the capital they need to make their businesses successful and by financing vital infrastructure and communication services. For more information about Farm Credit, please visit www.farmcredit.com.

The AgriBank District Farm Credit Council represents Farm Credit farmers and ranchers in a 15-state area from Wyoming to Ohio and Minnesota to Arkansas and including Illinois. About half the nation’s cropland is located within the AgriBank District.

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Hawk, Reetz, & Strohl Join Farm Credit Team

Farm Credit Illinois recently three new employees throughout its 60-county territory – Rachel Hawk, of Bloomington, Dylan Reetz, of Cissna Park, and Jon Strohl, of Sigel.

Rachel Hawk

Rachel Hawk

Hawk started June 5 as a human resources generalist in the human resource department based at the financial cooperative’s headquarters in Mahomet. She was raised on her family’s grain farm and graduated from Mercer County High School before receiving her bachelor’s degree in agricultural and consumer economics from the University of Illinois at Urbana-Champaign. Prior to joining the Farm Credit team, Hawk worked for two years as a human resources intern at Farm Credit Illinois in Mahomet and as a development intern for two months at American Farmland Trust in Washington, DC. She is an active member of the Illinois Farm Bureau Yong Leaders and Illinois FFA Alumni Association. Hawk is the daughter of Mark and Shelly Hawk of Aledo.

Dylan Reetz

Dylan Reetz

Reetz began May 21 as a sales service specialist at the Watseka regional office. The Watseka office serves farm families and rural landowners in Iroquois and northern Ford Counties. He was raised on his family’s Iroquois County grain farm and graduated from Cissna Park High School before receiving his bachelor’s degree in agriculture and consumer economics from the University of Illinois at Urbana-Champaign. Prior to joining the Farm Credit team, Reetz worked as a summer intern for CoBank based in St. Louis and a Farm Credit Illinois intern based out of the cooperative headquarters in Mahomet for two years. He is the son of Bob and Betty Reetz of Cissna Park.

Jon Strohl

Jon Strohl

Strohl started May 21 as an assistant vice president of crop insurance at the Effingham regional office.  The Effingham office serves farm families and rural landowners in Clay, Cumberland, Effingham, Fayette, Jasper, Marion and Shelby Counties. He was raised on his family’s Shelby County grain and livestock farm and graduated from Neoga High School before receiving his associate’s degree in social science from Lake Land College. Prior to joining the Farm Credit team, Strohl worked for more than four years as a sales consultant at Crop Production Services in Neoga. Strohl resides in Sigel with his wife Elissa with their three children – Liam, Griffin, and Ada.

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Farm Credit Mt. Vernon Supports County Extensions

The Farm Credit Illinois Mt. Vernon regional office recently awarded $500 to the Jefferson County University of Illinois Extension and $725 to the White County University of Illinois Extension.

In 2017, FCI invested more than $270,000 in youth, community, and ag literacy initiatives throughout its 60-county territory. The Mt. Vernon regional office annually supports Extension initiatives which further agricultural and youth development in rural communities.

 

Pictured above from L to R: Craig Koors (FCI), Amy McCarty (White County Extension program coordinator), Donnie Seitz (White County livestock committee member)

The funds gifted to White County will provide new gutters for the 4-H Livestock Barn on the fairgrounds, increasing the lifespan of the building and allowing 4-H members to continue showing annually.

Pictured above from L to R: Caitlyn Wagner, Lilyanne Eastham, Karli Verheyen (FCI)

 

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King Retires From Farm Credit After 20 Years

Sue King, of Sheldon, is retiring from Farm Credit Illinois June 29, after 20 years providing support to generations of farm families in the Watseka area. King is a sales and service specialist based at the Watseka regional office serving Iroquois and northern Ford Counties.

King was raised on a grain and livestock farm in Kentland, Ind. Before joining the workforce, she received a business certificate from Indiana Business College. King and her husband Steve have two children – Jodie (Bryan) Havens and Darrin (Amanda) – and two grandchildren – Evan and Leah. The Farm Credit Illinois team is grateful for King’s leadership and service to farm families and rural communities. 

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From 100 Bushels Per Acre Soybeans To No Longer Farming - The Story Of Dan Arkels

In the Fall of 2014, LaSalle County farmer Dan Arkels felt like he won the World Series.  He was the first Illinois farmer to have reached the 100 bushels per acre mark in the Illinois Soybean Association's Yield Challenge, but now ... he's no longer farming.  
 
NAFB Broadcaster, Jared White, has more...
 
 

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Farm Credit Celebrates 2018 Agriculture Scholars: Thirty High Schools Seniors Receive $2,000 to Pursue Ag Careers

The class of 2018 Farm Credit agriculture scholars was recognized during a scholarship luncheon at Farm Credit Illinois (FCI) in Mahomet Thursday, May 31.

A total of $60,000 of scholarships were awarded to 30 high school seniors. Each scholar receives $2,000 from FCI to pursue a degree in the field of agriculture. Twenty-seven of the students attended the recognition program.

Pictured above from left to right: Back row: Travis Kaeb of Buckley (Iroquois County), Noah Benedict of Dewey (Champaign County), Jebediah Baumgart of Norris City (White County), Jake Wente of Sigel (Cumberland County), Seth Mitchell of Olney (Richland County), Julissa Garcia of Gilman (Iroquois County), Bridget Payne of Harrisburg (Saline County); Middle row: Remington Henson of Wayne City (Wayne County), Tucker Marrs of Paris (Edgar County), Nicholas DeVries of New Douglas (Montgomery County), Clayton Smith of Sumner (Lawrence County), Peyton Tester of Witt (Montgomery County), Dillon White of Jacksonville (Morgan County), Tyler Hollis of Columbia (St. Clair County), Reed Jostes of Maroa (Macon County); Front row: Cole Herrmann of Hoyleton (Washington County), Megan Finfrock of Clinton (DeWitt County), Becca Royer of Oakland (Coles County), Parker Karrick of Patoka (Marion County), Alexis Ruemker of Columbia (Monroe County), Abigail Wagner of Milford (Iroquois County), Sarah Richey of Medora (Jersey County), Jenna Wheeler of Jacksonville (Morgan County), Cierra Crowell of Lincoln (Logan County), Sophia Hortin of Fisher (Champaign County), Benjamin Polo of Carlinville (Macoupin County)

This marks the fifteenth year of the Farm Credit agriculture scholarship program, which has awarded $400,000 to 329 students in central and southern Illinois since 2004. Scholarship selections are based on a combination of academic achievement, participation and leadership in school and community organizations, and the applicant’s commitment to an agricultural career.

 

“Farm Credit Illinois is proud to provide positive opportunities and lend support to young people with a passion for agriculture,” says Rod Stoll, vice president of marketplace engagement for FCI. “These scholars will assume careers that shape the future of agriculture and Rural America, in turn Helping Farm Families Succeed.”

Scholars not pictured above: Ryder Flener of Elizabethtown (Hardin County), Leah Hall of Carbondale (Jackson County), Callie McClay of Oakdale (Washington County), Calyssa Richie of New Berlin (Sangamon County)

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McGrew Retires From Farm Credit After 36 Years

Bonnie McGrew is retiring from Farm Credit Illinois May 31, after 36 years providing support to generations of farm families in the Champaign area. McGrew is a senior sales and service specialist based at the Mahomet regional office serving Champaign, Douglas, Ford, Piatt, and Vermilion Counties. 

McGrew was raised in Ford County. Before joining the workforce, she studied at Northern Illinois University. During her Farm Credit career, McGrew was based in Paxton, Gibson City, and Champaign offices, before moving to the newly purchased cooperative headquarters and Mahomet regional office in 2008.

McGrew and her husband Lance have one daughter – Holli Applegate – and two grandchildren – Austin and Arin. The Farm Credit Illinois team is grateful for McGrew’s leadership and service to farm families and rural communities.

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Seven Join Farm Credit Association Team

Farm Credit Illinois recently hired seven employees throughout its 60-county territory: Michael Burns, of Bloomington, Jon Cook, of Normal, Megan Humphres, of Toledo, Chea Mueller, of Highland, Clayton Reiser, of Champaign, Karli Verheyen, of Woodlawn, and Jenny Walker, of Cerro Gordo. 

Michael Burns

Michael Burns

Burns started Jan. 22 as a loan associate in the commercial lending department based at the financial cooperative’s central office in Mahomet. Burns was raised in McLean County and graduated from Normal Community High School before receiving his bachelor’s degree in accountancy from Southern Illinois University. Burns then earned a master’s degree in MBA from Southern Illinois University. Prior to joining the Farm Credit team, Burns worked for over three years as a senior credit analyst at Heartland Bank and Trust in Bloomington. Burns resides in Bloomington with his fiancé Maria Nunez. He is the son of Roger and Debbie Burns of Bloomington.

Jon Cook

Jon Cook

Cook began April 13 as a vice president for the large and agribusiness team in the credit service division and is based at the financial cooperative’s central office in Mahomet. Cook was raised in McLean County and graduated from Bloomington High School before receiving his associate’s degree from Heartland Community College. Cook then earned a bachelor’s degree in finance from Illinois State University. Prior to joining the Farm Credit team, Cook worked for 10 years as a commercial loan portfolio manager at Heartland Bank and Trust Company in Bloomington. He is the son of Randy and Marilyn Cook of Bloomington.

Megan Humphres

Megan Humphres

Humphres started Feb. 5 as an assistant vice president of crop insurance at the Effingham regional office. The Effingham office serves farm families and rural landowners in Clay, Cumberland, Effingham, Fayette, Jasper, Marion, and Shelby Counties. Humphres spent time on her extended family’s Coles County grain farm and graduated from Kansas High School. She earned an associate’s degree in agriculture from Lake Land College before transferring to Illinois State University and completing a bachelor’s degree in agribusiness and agronomy management. Prior to joining the Farm Credit team, Humphres worked as a crop insurance specialist at First Neighbor Bank in Neoga. Humphres resides in Toledo with her fiancé Lance Moses. She is the daughter of Kevin and Julie Humphres of Kansas, Ill.

Chea Mueller

Chea Mueller

Mueller started Jan. 2 as a sales and service assistant at the Highland regional office. The Highland office serves farm families and rural landowners in Bond, Clinton, Madison and Washington Counties. Mueller was raised on her family’s Bond County grain farm and graduated from Greenville High School before completing a bachelor’s degree in plant and soil science from Southern Illinois University Carbondale. Prior to joining the Farm Credit team, Mueller worked for one year as a program aide at Bond County Community Unit #2 in Greenville. Mueller resides in Highland with her husband Aaron. She is the daughter of Rich and Ronda Reeves of Greenville.

Clayton Reiser

Clayton Reiser

Reiser began March 5 as a crop insurance assistant vice president at the Decatur regional office. The Decatur office serves farm families and rural landowners in DeWitt, Macon, and Moultrie Counties. Reiser was raised in Champaign County and graduated from St. Thomas More High School before receiving his bachelor’s degree in agribusiness with a concentration in markets and management from the University of Illinois at Urbana-Champaign. Prior to joining the Farm Credit team, Reiser worked for more than three years in agronomy sales at Effingham Equity in Arcola and two years at DuPont Pioneer in seed corn production in St. Joseph.

Karli Verheyen

Karli Verheyen

Verheyen started April 12 as a sales and service specialist in the Mt. Vernon regional office.  The Mt. Vernon office serves farm families and rural landowners in Edwards, Franklin, Hamilton, Jackson, Jefferson, Perry, Wayne, and White Counties. Verheyen was raised on her family’s Jefferson County livestock farm and graduated from Mt. Vernon High School before receiving her associate’s degree in ag business and production from Rend Lake College. Prior to joining the Farm Credit team, she worked for three years as a member service representative at GenFed Financial Credit Union in Mt. Vernon.

Jenny Walker

Jenny Walker

Walker began Dec. 18 as a sales and service specialist at the Decatur regional office. The Decatur office serves farm families and rural landowners in DeWitt, Macon and Moultrie Counties. Walker was raised on her family’s Piatt County farrow-to finish-swine and grain farm. She graduated from Cerro Gordo High School before completing a bachelor’s degree in animal sciences from the University of Illinois at Urbana-Champaign. Prior to joining the Farm Credit team, Walker worked for one year as a clinical research associate at the Decatur Memorial Hospital Cancer Care Institute and as a medical transcriptionist for seven years at SafeWorks Illinois in Champaign. She was also an assistant farm manager at Quality Swine Farm in Hammond for 15 years. Walker resides in Cerro Gordo with her husband Brandon. They have three children – Jarrett (18), Kali (16), and Lucas (9).

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Farm Credit Family Scholars Named

Twelve recipients of the 2018 Farm Credit Illinois Family Scholarship – administered by the Community Foundation of East Central Illinois – were recently named. Each scholar receives $3,000 towards their college education. The selection criteria emphasize scholastic achievement, leadership and community contributions, career vision and goals, and financial need. Farm Credit Illinois (FCI) serves farm families, agribusinesses, and rural communities in the central and southern 60 counties of Illinois.

Applicants for the Family Scholarship are children or grandchildren of Farm Credit Illinois employees, up to age 26, and registered as full-time college students in the fall of 2018.

Fletcher Bell

Fletcher Bell

Fletcher Bell, of Cerro Gordo, Ill., is pursuing a medical degree at Columbia University’s Vagelos College of Physicians and Surgeon – ranked as the 7th leading medical school in the country. He graduated from Monticello High School and is the son of Ellen (Neher) – FCI Decatur vice president of lending – and Jerry Gregg of Cerro Gordo. He is the grandson of Donald M. Neher of Higginsville, Mo.

Cassidi Collins

Cassidi Collins

Cassidi Collins, of Mahomet, will be a freshman at the University of Kentucky in the physician’s assistance program in the fall. In May she graduates from Mahomet-Seymour High School and is the daughter of Tammi (FCI crop insurance service division service specialist) and Ted Collins of Mahomet.

 

Ellie and Emily Detmer

Ellie and Emily Detmer

Sisters Ellie and Emily Detmer, of Breese, are two recipients. Ellie will be enrolled at Lindenwood University – Belleville as a graduate student in school and professional counseling this fall after completing her undergraduate education this spring. Emily will continue her studies in mathematics – with an actuarial science emphasis – at Belmont University in Nashville, Tenn.  Ellie and Emily graduated from Central Community High School and are the daughters of Chris (FCI Highland sales and service specialist) and Jeff Detmer of Breese.

 

Haley Giles

Haley Giles

Haley Giles, of Teutopolis, is attending Maryville University in St. Louis, Mo., in the occupational therapy graduate program. She graduated from Teutopolis High School and is the daughter of Bridgot (FCI Effingham regional manager) and Doug Giles of Teutopolis.

 

Britni Gortner

Britni Gortner

Britni Gortner, of Monticello, is continuing her studies in business and finance at the University of Missouri – Columbia. She graduated from Monticello High School and is the daughter of Niki Moore (FCI credit assistant in the credit services division) and Mark Gortner.

 

Annie Heinz

Annie Heinz

Annie Heinz, of Tuscola, is continuing her studies in accounting at Illinois State University. She graduated from Tuscola High School and is the daughter of Brad Heinz (FCI Highland appraiser) and Fran Heinz.

Jennifer Nigh

Jennifer Nigh

Jennifer Nigh, of Anchorage, Alaska, is continuing her pursuit of a bachelor’s degree in nursing science at the University of Alaska Anchorage. She graduated from Paxton-Buckley-Loda High School and is the daughter of Barbara (FCI credit assistant in the credit services division) and Timothy Hess of Paxton.

Maclaren Ranstead

Maclaren Ranstead

Maclaren Ranstead, of Mahomet, will graduate from Mahomet-Seymour High School in May and pursue a degree in the architecture program at Ball State University in the fall. She is the daughter of Stacy Schweighart (FCI senior sales and service specialist in the commercial lending department) and Paul Ranstead.

 

David and Elizabeth Rhode

David and Elizabeth Rhode

Siblings David and Elizabeth Rhode, of Mahomet, are two of 12 recipients. David is pursuing his medical doctorate at the University of Illinois College of Medicine at Chicago. Elizabeth is pursuing a bioengineering degree at the University of Illinois at Urbana-Champaign. David and Elizabeth graduated from Morton High School and are the children of Bob (FCI general counsel) and Rebekah Rhode of Mahomet.

 

McKenna Steineman

McKenna Steineman

McKenna Steineman, of Effingham, will graduate from St. Anthony High School in May and attend St. Olaf College in Northfield, Minn., to pursue a degree in literature and music performance in the fall. She is the granddaughter of Dave Ragan (FCI Effingham appraiser) and daughter of Daniel and Angela Steineman of Effingham.

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Farm Credit Awards Grants To 4-H & FFA Youth: Checks Totaling $20,000 Support Community Improvement Projects

4-H clubs and FFA chapters throughout central and southern Illinois will implement valuable improvement projects in their communities with help from grants provided by Farm Credit Illinois. FCI awarded $400 grants to 50 4-H clubs and FFA chapters to deliver projects that will make their local communities better places to live.

This is the 10th year FCI has funded community improvement grants; the total amount awarded is nearly $110,000. Examples of this year’s award-winning projects include managing community gardens, improving fairgrounds, and constructing roadside welcome signs.

“Farm Credit is grateful to team-up with youth organizations to invest in the health of their communities, fulfilling our mission to support Rural America and agriculture,” says Rod Stoll, vice president of marketplace engagement for FCI. “We congratulate the 2018 grant recipients and salute them for making positive, tangible contributions to their local communities.”

The following 4-H clubs and FFA chapters are 2018 community improvement grant recipients: 

  • Liberty 4-H Club (Bond County): Enhance show rings, water hydrants, and benches along Midway at the Bond County Fairgrounds
  • Old Ripley 4-H Club (Bond County): Landscape, plant vegetables and flowers, and clean-up at Old Ripley Church of Christ
  • Hardin Busy Bees 4-H Club (Calhoun County): Build display stands for the Calhoun County Fair’s 4-H and Education Building
  • Fantastic 4-Hers of Fisher 4-H Club (Champaign County): Build cedar planter boxes to beautify downtown Fisher
  • Mahomet Happy Helpers 4-H Club (Champaign County): Plant flowers along Main Street in Mahomet
  • Mahomet-Seymour FFA Chapter (Champaign County): Partner with local civic groups to improve the community landscapes at Barber Park
  • Philo 4-H Friends (Champaign County): Create butterfly education and promotion exhibit for the public at Philo Library
  • Sadorus All Stars 4-H Club (Champaign County): Improve East Side Park in Tolono with quality windbreak and shade trees
  • Casey Achievers 4-H Club (Clark County): Install recycled benches and green trash barrels at Martinsville Fairgrounds
  • Golden Star 4-H Club (Clark County): Improve Martinsville Fairgrounds
  • 4-H Clovers and Cloverettes (Clinton County): Plant and maintain trees and create new pollinator garden at Germantown Veterans Park
  • Carlyle FFA Chapter (Clinton County): Deliver a honeybee project in East Clinton County
  • Clinton County 4-H Federation (Clinton County): Create flower farming area for honeybees in West Clinton County
  • Springpoint Rebels 4-H Club (Cumberland County): Fix-up playground at Lillyville Church
  • Edwards County FFA Chapter (Edwards County): Revive the flower bed in the visitor center parking lot at Beall Woods State Park
  • Ellery Panthers 4-H Club (Edwards County): Complete beautification project at Little Prairie Christian Church
  • Independent 4-Her’s (Franklin County): Complete beautification project within Whittington
  • Carrollton FFA Chapter (Greene County): Grow flowers to plant around town square in Carrollton
  • Greenfield FFA Chapter (Greene County): Plant a “Taste the Rainbow Garden” at Greenfield Elementary School
  • Barbwire Gang 4-H Club (Hamilton County): Build “Barbwire Gang Gives Back” boxes at the Hamilton County GIFT Garden
  • Hamilton County 4-H Federation (Hamilton County): Build a Farmers Market sign at Randolph and Jackson Streets
  • Piopolis Busy Bees 4-H Club (Hamilton County): Assist with repairs to McCoy Memorial Library
  • Corn Fed Clovers 4-H Club (Hardin County): Install recycled bench and expand Community Garden
  • Cissna Park FFA Chapter (Iroquois County): Plant and maintain Community Garden at Cissna Park High School
  • Milford FFA Chapter (Iroquois County): Deliver a recreational project at Milford Park
  • Jackson County Wranglers 4-H Club (Jackson County): Help create new horse arena at the U of I Extension Center
  • TRICO FFA Chapter (Jackson County): Build and maintain flower beds at TRICO High School
  • Northwestern Green Machines 4-H Club (Macoupin County): Implement community recycling program at Northwestern Elementary School
  • Athens FFA Chapter (Menard County): Build the Athens Warriors Food Garden Phase 3 Arboretum at Athens High School
  • West Menarders Ag 4-H Club (Menard County): Host a work day at the Menard County Fairgrounds
  • Agri-Stars 4-H Club (Morgan County): Plant and maintain a community garden for Morgan County at Hadden Farms
  • Berea Ag 4-H Club (Morgan County): Provide community outreach at First Baptist Church
  • East Side Jr’s 4-H Club (Morgan County): Construct shelves for cages in the new poultry building at the Morgan County Fairgrounds
  • Sullivan FFA (Moultrie County): Install safe sturdy gates for Moultrie-Sullivan Fairgrounds
  • Pope County Clover Crew 4-H Club (Pope County): Upgrade and continue the community garden at Coonhunter’s Club
  • River Rats 4-H Club (Pope County): Provide new outdoor student seating at Pope County Elementary School
  • Steeleville High School FFA Chapter (Randolph County): Host a beautification day at Steeleville High School
  • Southern Smilers 4-H Club (Richland County): Beautify board building at Richland County Fair
  • West Side 4-H Club (Sangamon County): Build community picnic tables for the Sangamon County Fairgrounds
  • Williamsville FFA Chapter (Sangamon County): Plant and maintain a community garden at Williamsville High School
  • Moweaqua Rustlers 4-H Club (Shelby County): Provide facelift to livestock barns at Shelby County 4-H and Junior Fairgrounds
  • Shelbyville Cloverbuds 4-H Club (Shelby County): Beautify Shelby County Senior Center
  • Stewardson-Strasburg FFA Chapter (Shelby County): Establish Mr. Wildman’s Memorial Garden at Stewardson-Strasburg High School
  • Strasburg Tailtwisters 4-H Club (Shelby County): Plant trees at Shelby County 4-H and Junior Fairgrounds
  • Lick Creek 4-H Club (Union County): Restore Ebenezer Hall Cemetery
  • Wayne City FFA Chapter (Wayne County): Provide hands-on horticulture opportunities at Wayne City High School
  • 76 Clovers of Norris City (White County): Clean-up trash cans in White County
  • Centerville Ripsnorters 4-H Club (White County): Add landscaping to the front of the showers area at Burrell Woods
  • Crossville Prizewinners 4-H Club (White County): Build portable poultry and rabbit judging tables at White County Fairgrounds
  • Mad Hatters 4-H Club (White County): Build raised garden beds for senior living residents at Heritage Apartments

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Farm Credit Names 2018 Agriculture Scholars: Thirty High Schools Seniors Receive $2,000 to Pursue Ag Careers

Farm Credit Illinois recently awarded a total of $60,000 in scholarships to high school seniors throughout central and southern Illinois to pursue agriculture-related majors and careers. Each of the 30 high school seniors received a $2,000 agriculture scholarship; two of the recipients were designated as Urban Agriculture Scholars.

This is the 15th year of the Farm Credit agriculture scholarship program which has awarded a total of $400,000 to 329 students since 2004. Scholarship selections are based on a combination of academic achievement, participation and leadership in school and community organizations, and the applicant’s commitment to an agricultural career.

“Farm Credit Illinois is proud to provide positive opportunities and lend support to young people with a passion for agriculture,” says Rod Stoll, vice president of marketplace engagement for FCI. “These scholars will assume careers that shape the future of agriculture and Rural America, in turn Helping Farm Families Succeed.”

The following students were selected to receive a 2018 Farm Credit agriculture scholarship: 

  • Jebediah Baumgart of Norris City (White County) will graduate from Norris City-Omaha-Enfield High School and attend Rend Lake College to study agricultural business and agricultural production and management. His mother is Cindy Baumgart.
  • Noah Benedict of Dewey (Champaign County) will graduate from Mahomet-Seymour High School and attend the University of Illinois at Urbana-Champaign to study agribusiness markets and management. His parents are Chad and Becky Benedict.
  • Cierra Crowell of Lincoln (Logan County) will graduate from Lincoln Community High School and attend Southern Illinois University Carbondale to study equine science. Her parents are Jerry and Lotis Crowell.
  • Nicholas DeVries of New Douglas (Montgomery County) will graduate from Mount Olive High School and attend the University of Illinois at Urbana-Champaign to study agribusiness markets and management. His parents are Kevin and Sondra DeVries.
  • Megan Finfrock of Clinton (DeWitt County) will graduate from Clinton Community High School and attend the University of Illinois at Urbana-Champaign to study crop sciences, concentrating in crop agribusiness. Her parents are Marvin and Shelley Finfrock.
  • Ryder Flener of Elizabethtown (Hardin County) will graduate from Hardin County High School and attend Oklahoma State University to study animal science. His parents are Janetta Flener and the late Randy Flener.
  • Julissa Garcia of Gilman (Iroquois County) will graduate from Iroquois West High School and enroll in the Parkland Pathways program to study animals sciences. Her parents are Hilario and Domitila Garcia.
  • Leah Hall of Carbondale (Jackson County) will graduate from Carbondale Community High School and attend Southern Illinois University Carbondale to study animal science. Her mother is Me-Chelle Hall.
  • Remington Henson of Wayne City (Wayne County) will graduate from Wayne City High School and attend Rend Lake College to study agricultural business and agricultural production and management. His parents are Shannon and Nicole Henson.
  • Cole Herrmann of Hoyleton (Washington County) will graduate from Nashville Community High School and attend Kaskaskia College to study pre-agricultural engineering. His parents are Carl and Charlene Herrmann.
  • Tyler Hollis of Columbia (St. Clair County) will graduate from Columbia High School and attend Missouri University of Science and Technology to study mechanical engineering. His parents are Rich and Gail Hollis.
  • Sophia Hortin of Fisher (Champaign County) will graduate from Fisher High School and attend the University of Illinois at Urbana-Champaign to study agricultural leadership and science education. Her parents are Mark and Shanna Hortin.
  • Reed Jostes of Maroa (Macon County) will graduate from Maroa-Forsyth High School and attend Southern Illinois University-Carbondale to study agricultural education. His parents are Josh and Heidi Jostes.
  • Travis Kaeb of Buckley (Iroquois County) will graduate from Cissna Park High School and attend Parkland College to study agricultural business, concentrating in precision agriculture. His parents are Warren and Jill Kaeb.
  • Parker Karrick of Patoka (Marion County) will graduate from Patoka Community High School and attend Kaskaskia College to study agriculture business. Her parents are Leslie and Angela Britt.
  • Tucker Marrs of Paris (Edgar County) will graduate from Paris High School and attend Lake Land College as an agriculture production transfer student. His parents are Wayne and Nancy Marrs.
  • Callie McClay of Oakdale (Washington County) will graduate from Nashville Community High School and attend the University of Illinois at Urbana-Champaign to study agricultural communications. Her parents are Steve and Denise McClay.
  • Seth Mitchell of Olney (Richland County) will graduate from Richland County High School and attend Lake Land College in agriculture. His parents are Aaron and Deborah Mitchell.
  • Bridget Payne of Harrisburg (Saline County) will graduate from Harrisburg High School and attend Southeastern Illinois College to study agriculture education. Her parents are Eric and Cheree Witges.
  • Benjamin Polo of Carlinville (Macoupin County) will graduate from Gillespie High School and attend Southern Illinois University Carbondale to study pre-veterinary medicine and science. His parents are Kevin and Therese Polo.
  • Sarah Richey of Medora (Jersey County) will graduate from Southwestern High School and attend Illinois Central College in the agriculture transfer program. Her parents are Joseph and Lynn Richey.
  • Calyssa Richie of New Berlin (Sangamon County) will graduate from New Berlin High School and attend the University of Illinois at Urbana-Champaign to study agricultural communications. Her parents are Bill and Ann Richie.
  • Becca Royer of Oakland (Coles County) will graduate from Oakland High School and attend Lake Land College in the agriculture transfer program. Her parents are Leann and Ruben Royer.
  • Alexis Ruemker of Columbia (Monroe County) will graduate from Waterloo High School and attend the University of Illinois at Urbana-Champaign to study agricultural leadership and science education. Her parents are Clem Ruemker and Cindy Rehmer-Ruemker.
  • Clayton Smith of Sumner (Lawrence County) will graduate from Oblong High School and attend Lincoln Trail College to study process technology and welding. His parents are Randy and Janette Smith.
  • Peyton Tester of Witt (Montgomery County) will graduate from Hillsboro High School and attend the University of Illinois at Urbana-Champaign to study farm management. His parents are Dan and Ann Tester.
  • Abigail Wagner of Milford (Iroquois County) will graduate from Milford High and attend Joliet Junior College in the agriculture transfer program. Her parents are Luke and Shelly Wagner.
  • Jake Wente of Sigel (Cumberland County) will graduate from Teutopolis High School and attend Lake Land College to study ag business. His parents are Tim and Betty Wente.
  • Jenna Wheeler of Jacksonville (Morgan County) will graduate from Jacksonville High School and attend Lake Land College in the agriculture transfer program. Her parents are Dennis and Joy Wheeler.
  • Dillon White of Jacksonville (Morgan County) will graduate from Jacksonville High School High School and attend John Wood Community College to study animal science. His parents are Zachary and Tammy White.

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Interesting Times: Are You At Risk of Becoming a Frog in a Pot of Warming Water?

FOMC Update

The Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) met March 20-21 and voted unanimously to increase the federal funds rate by 0.25%. The move was once again anticipated and the immediate market impact on interest rates was uneventful. The FOMC cited continued strengthening of the labor market, strong employment gains, and continued pickup in economic activity as the primary drivers of current economic conditions. Effective March 21, the prime rate increased to 4.75%.

The FOMC also continued its previously approved policy to slowly reduce its balance sheet of both Treasury securities and mortgage-backed securities by reinvesting less than the amounts maturing, explained in a previous edition of INTERESTing Times. This action will place more supply of these securities in the open market (and presumably increase the interest rate cost on these securities as the FOMC becomes less of a buyer). Combined, the roll-off from the Fed’s balance sheet will increase from $20 billion per month to $30 billion per month beginning in April. This also comes at the same time the federal government is increasing its borrowing as a result of the recent budget agreement to spend more money and the recent tax cut legislation which will result in less tax revenue.

The next Fed meeting is May 1-2. The futures market currently projects a less than 5% chance of a rate hike at this meeting and but is projecting a more than 80% chance of a rate hike during the June 28-29 FOMC meeting. At present time, the market is anticipating three total quarter-point increases by year-end with a small probability (30%) of a fourth hike in December this year.

Updated Economic Projections

The Federal Reserve Board members released their quarterly economic projections at the March meeting. There were some changes from December projections with real gross domestic product growth increased to 2.70% for 2018 – from 2.5% in December – and tapering down to a long-run growth rate of 1.80%. This year, the Fed projects a rise in the federal funds rate by an additional 0.50% (in two quarter point increments), three quarter point increases in 2019, and two more quarter point increases in 2020 to reach 3.40%  – a 0.30% increase from December projections.

However, the FOMC continues to project a long-run federal funds rate of 2.80-3.00% – a forecast below the rate projected for 2020. Today, the federal funds rate is 1.75%. If the Fed projections are correct, we are about half-way through this tightening cycle.

Impact on Interest Rates – Don’t be a Frog in a Pot of Slowly Warming Water

You’ve heard the metaphor that a frog placed in a pot of water that is slowly warmed to the point of boiling will not perceive the danger and will eventually be cooked. While biologists may dispute the accuracy of this fable, don’t become the frog in the metaphorical story by sleeping on opportunities.

Variable rate loans have increased along with the federal funds rate. The Wall Street Journal prime rate is now at 4.75%. However, the market for longer-term loans has not increased as much as expected with the increases in short-term rates. This has kept long-term loan rates such as home mortgages and fixed-rate farm real estate loans much lower than anticipated. How much longer this phenomenon will last continues to be an INTERESTing question.

This was the sixth increase during this interest rate tightening cycle and the fed funds rate is now 1.50% higher than it was before the Fed began increasing rates. On a $1 million loan, that translates into an additional $15,000 of annual interest expense. Is the slow increase in interest expense making you feel like a frog in a pot? While you may not be able to do much to mitigate this risk on operating loans, you do have options to fix rates on term loans. Explore them before the water gets too hot!

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IllinoisFarmRadio.com Hosts Outlook Meeting (Audio)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WHOW / WTIM / IllinoisFarmRadio.com hosted a 2018 Market Outlook Meeting Wednesday night in Clinton.  Featured on the panel (left to right) were: Todd Hubbs, U of I Ag Economist; Chip Nelliger, Blue Reef Trading; and Curt Kimmel, Bates Commodities.  The event was emceed by Todd Gleason of WILL-AM.

 

Hear the full event here:

 

 

 

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Neff Named Outstanding Cooperative Director

Karen Neff, past-chair of on Farm Credit Illinois’ Board of Directors, was named the 2017 Illinois Cooperative Council’s Outstanding Cooperative Director.

Neff and her husband own and operate a grain and livestock operation in St. Clair County. As a member of the FCI Board of Directors for more than 10 years, Neff has demonstrated a deep passion for cooperation in agriculture. She served as the vice-chair for two years before becoming FCI’s first female board chair in 2013 and served in that role for four years.

“Karen believes in FCI’s cooperative mission and core purpose of Helping Farm Families Succeed and advocates from the boardroom for innovative ways for the Association to deliver value to members,” says Beth Bolger, FCI Marketplace Initiatives Manager and 2017 Illinois Cooperative Council Chair. “The Council commends and congratulates Karen for her leadership and service to FCI member-owners.”

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Farm Credit Illinois Reports 2017 Financial Results

Farm Credit Illinois released the cooperative’s audited financial results for the 2017 fiscal year, which were highlighted by strong credit quality, increased net income, and stable loan growth.

  • Credit quality strong: Acceptable credit quality remained strong at 97.50 percent for all loans owned and managed by the Association.
  • Net earnings growth: Increased patronage from the Association’s funding bank, AgriBank, and moderate increases in loan balances, net earnings increased 5.30 percent from $69.6 million in year-end 2016 to $73.3 million for the year ending Dec. 31, 2017.
  • Steady loan volume: The loan volume owned and managed by the Association grew 2.20 percent from 2016 despite current farm economic conditions.

“Farm Credit Illinois stayed committed to its mission of lending support to farm families, rural communities, and agribusinesses through both the prosperous and challenging economic cycles,” says Tom Tracy, President & CEO of Farm Credit Illinois. “Another year of strong credit quality and earnings at FCI is a direct reflection on the overall sound management skills of our cooperative members.”

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Farm Credit Launches FreshRoots: Young & Beginning Farmers Program Supports Next Generation

Farm Credit Illinois introduced an initiative to support new farmers during two young and beginning farmer forums, attended by more than 250 farmer participants in Springfield and Effingham this week.

Farm Credit Illinois’ Steve Witges announces the FreshRoots program during the young and beginning farmer forum in Effingham Wednesday.

The FreshRoots young and beginning farmers program provides lending assistance and learning incentives to farmers up to age 40 or in their first 10 years of farming. Eligible borrowers receive loan pricing discounts for five years on up to $1 million in farm real estate loans and $500,000 in operating loans. Participants earn up to $2,000 in FreshRoots stipends for attending learning workshops and can apply for one of the $5,000 Directors Cup awards, which annually recognize farmers demonstrating personal growth and professional development. 

“Our members and Board of Directors voiced their desire for FCI to help equip today’s young and beginning farmers for a healthy start in their farming careers,” says Tom Tracy, FCI President & CEO. “As a member-owned and driven cooperative, we heard their requests and specifically tailored a FreshRoots program dedicated to Helping the Next Generation of Farm Families Succeed.”

“The FreshRoots learning incentives motivate participants to embrace an attitude of lifelong learning and offer an opportunity to see firsthand how beneficial half-day workshops are for their growth and development in their young farming careers,” says Steve Witges, FCI regional vice president. “Participants can use what they learn in the workshops when submitting a farm balance sheet and business plan with their loan application. We want to guide young and beginning farmers to evaluate their business, set goals, and create action plans as they start growing FreshRoots.”

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Farm Credit Supports Local FFA

The Farm Credit Illinois Red Bud regional office recently supported the Christ Our Savior and Red Bud FFA chapters, awarding $250 to each. The donations are part of the financial cooperative’s ongoing support of rural communities and agriculture.

Above: Members of the Christ Our Savior FFA chapter accept the gift from Jacob Fishbein (FCI)

Above: Members of the Christ Our Savior FFA chapter accept the gift from Jacob Fishbein (FCI)

In 2017, FCI invested more than $235,000 in youth, community, and ag literacy initiatives throughout its 60-county marketplace.

Above from L to R: Zacary Michels, Alec Hahn, Logan Cowell, Blake Durbin, Treyton Jones, Laura DuFrenne (FCI), Joe Goeddel, Matt Wiegard, Patrick Sondag, Caleb Crain, Dylan Falkenhain, Joseph Kingsley, Dominick Liefer, Vance Schmidt, Katie Davis, Madilyn Hoock, Micheal Chausse, Nicole Boyke

The funds will be used to build raised garden beds for each chapter’s greenhouse. The Red Bud regional office annually supports local FFA chapter initiatives which further agricultural and youth development in rural communities.

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 About Farm Credit Illinois

Farm Credit Illinois is a farmer-owned and directed agricultural lending cooperative serving 8,500 farm families, agribusinesses, and rural landowners in the southern 60 counties of Illinois with competitive and flexible financing and crop insurance expertise. The Association manages a $4 billion loan portfolio, provides 1.4 million acres of crop insurance coverage, and employs 210 staff based in the Mahomet central office and 14 regional office locations. The U.S. Farm Credit System supports rural communities, farm families, and agriculture with reliable, consistent credit and financial services today and tomorrow.

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Farm Credit 2018 Scholarship & Grant Programs For Youth Available: Supporting the Future of Agriculture and Healthy Rural Communities

High school seniors pursuing a career in agriculture are invited to apply for a $2,000 Farm Credit Illinois Agriculture Scholarship.
2017 FCI agriculture scholars

2017 Agriculture Scholar recipients at recognition luncheon

Thirty scholarships will be given in 2018 with two recipients designated as Urban Agriculture Scholars. Recipients are selected based on a combination of academic achievement, participation and leadership in school and community organizations, and the applicant’s commitment to an agricultural career. Applicants must be high school seniors enrolling in a college or university during the 2018 fall semester to pursue an agriculture-related academic major and career. Applicants must reside in – or immediate family must farm in – one of 60 central and southern counties in Illinois served by FCI. Recipients will receive $1,000 for the fall 2018 semester and $1,000 for fall 2020.

Farm Credit Illinois also invites 4-H Clubs and FFA Chapters organizing projects to apply for a $400 Community Improvement Grant.

 

Fifty $400 grants will be awarded to assist youth members in bringing positive change to their local community. Clubs should choose a project that delivers tangible value where the outcome is visible. Farm Credit encourages collaboration with other local organizations to develop and complete the improvement project.

Online applications for the scholarship and grant programs are available at www.farmcreditIL.com and must be submitted by Feb. 28. Questions or requests for additional information may be sent to ask@farmcreditIL.com.

“Farm Credit was created with one special mission – to support rural communities and agriculture – and that extends beyond financial services,” says Tom Tracy, FCI President & CEO.

Clovers and Cloverettes 4-H Club

Clovers and Cloverettes 4-H Club

 

“The Agriculture Scholarship program promotes positive opportunities for tomorrow’s leaders who will shape the future of agriculture while the Community Improvement Grant program helps local clubs and chapters make positive and tangible contributions to the health of Rural America.”

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Farm Credit Illinois is a farmer-owned and -directed agricultural lending cooperative serving 11,000 farm families, agribusinesses, and rural landowners in the southern 60 counties of Illinois with competitive and flexible financing and crop insurance expertise. The Association manages a $4.2 billion loan portfolio, sells 1.4 million acres of crop insurance coverage, and employs 220 staff based in the Mahomet central office and 14 regional office locations. The U.S. Farm Credit System supports rural communities, farm families, and agriculture with reliable, consistent credit and financial services today and tomorrow.

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Is Your Crop Insurance Coverage Right For You?

Winter is a time to plan for the next growing season. While it may be easiest to simply renew existing crop insurance policies, you may be leaving money on the table and exposing your farm to extra risk. By annually revisiting a farm’s risk management strategy and asking your crop insurance agent questions, you’ll optimize your coverage decisions.

1. How have the multi-peril crop programs changed?

The national crop insurance program is constantly evolving. Examining these changes annually can uncover new opportunities and potential savings. For example: Did you know the definition of "replant" is changing in 2018? Or that coverage on irrigated and non-irrigated acres can be customized?

2. Have recent changes on the farm affected your expected planted acres?

As farms seize opportunities to expand their farmland or sell off non-income producing assets, their coverage needs change. This can be true if added acres have a strong production history that may change your guarantee. To ensure you have the correct coverage, share any farm business or personal changes with your crop insurance agent. These changes may include adding or removing partners, changing crop mix, forming a new entity, and changing your marital status.

3. How much risk should your farm business endure this year?

Establishing an estimated cost of production gives you two pieces of critical information – how much money is required to grow your crops and how much insurance is needed to cover this investment in case of a crop failure. While the current agriculture economic cycle continues, you may want to consider increasing coverage levels to mitigate risk and maintain equity in the event of a substantial loss.

4. How can crop insurance bolster your marketing plan?

By establishing your cost of production and planting intentions for 2018, you can begin to use crop insurance to aid your marketing plan. If you choose a Revenue Protection policy, you can forward market confidently because of the bushel guarantee.

5. Can educational programs teach about new options?

Winter is the perfect time to brush up on your skills, explore new techniques, and learn from other farmers in your region. Crop insurance companies will likely host informational winter meetings to share updates on the federal crop insurance program – much like Farm Credit Illinois‘ Fielding Forward crop insurance meetings.

Evaluating crop insurance coverage options annually helps you understand the best policies for your farm business’s needs. Having a frank and timely conversation with your crop insurance agent is the most effective way to develop a risk management plan to protect your farm business.

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