Seven Springs Farms: Enterprises Come & Go As Market Demands Dictate

For years, Brian Scott tried to grow corn and soybeans on a rented farm that featured nine acres of sandy soils fit for a Florida beach. In 2017, he bought the farm, and in 2021, he seeded the sandy patch to a prescribed pollinator mix and enrolled it in CRP. “We figure by the third year, we’ll make a little money,” he says. “If nothing else, we're reducing fertilizer, energy and pesticide costs.”

If the farmer originally deducted the input, then the rebate will increase taxable income when it is received. If the farm input was not deducted because it was used for personal purposes, then the rebate does not increase taxable income.

On Monday, USDA Secretary Tom Vilsack announced $325 million of funding for a second round of climate-smart ag pilot projects. The funding includes 71 smaller projects targeting underserved producers and partnerships with minority-serving academic institutions.

We're learning more about the impact two hurricanes had this year on Florida's orange crop. Details in today's AgDay Minute.