Iowa State Extension agronomists say there are at least two strategies farmers can consider in 2023 to address this phenomenon, especially if they expect to be hit by hot, dry weather conditions again next summer.
"Just as we should demand that the food we eat is produced on American soil, we must also demand that the energy we consume is produced in our own country," says Ron Rabou, president of Rabou Farms.
One of the largest deductions for farmers is depreciation, which can be misunderstood in how it works. The tax code allows you to deduct your farm purchases in three ways.
Corn and wheat end the day higher, but will there be any follow-through buying? Live cattle were mostly higher too. Chuck Shelby of Risk Management Commodities chats with AgDay's Michelle Rook.
