illinifarmradio.com Archives for 2018-04

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.

0
comments


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

0
comments


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.

0
comments


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!

0
comments


Local Weather