Government data shows that U.S. farmers again exported a record amount of soybeans, shipping 2.6 billion bushels to international buyers in the 2016-17 marketing year. Valued at more than $28 billion, the milestone represented the second year in a row that exports exceeded 60 percent of U.S. soybean production. However, the United Soybean Board warns that record U.S. production is no longer enough to ensure markets for U.S. farmers. A USB board member points out that soy production is growing worldwide, giving buyers more choice. Derek Haigwood of Arkansas says the U.S. needs to “differentiate our product and farmer practices to customers” to position the U.S. as a preferred supplier in the future. He suggests that improvements to meal and oil will help the U.S. “keep a strong foothold” in overseas markets.

The American Farm Bureau Federation announced Tuesday that President Donald Trump will address the AFBF 99th Annual Convention in Nashville, Tennessee, next month. AFBF President Zippy Duvall says AFBF is “honored to host our nation’s president,” in noting that Trump has said he would “make sure agriculture has a seat at the table” when it comes to top issues facing farmers and ranchers. Duvall says: “Now, it is our privilege to reserve a spot for him at our podium.” Duvall considers President Trump’s announced speech as a sign of the high regard in which the nation’s chief executive holds America’s farm and ranch families. The speech comes after three consecutive years of decline in farm sector profits as farmers are facing prolonged economic challenges. AFBF says action on key issues on the president’s agenda could help farmers turn the corner as they head into the new year. George H.W. Bush was the last president to address the AFBF Annual Convention in 1992 in Kansas City, and before that, in 1990 in Orlando. The 2018 AFBF Annual Convention takes place January 5-10.

The National Council of Farmer Cooperatives praised lawmakers for their work in providing a fix for the repeal of the section 199 Deduction. NCFC applauded Senator John Hoeven of North Dakota and Senator John Thune of South Dakota for their work in adding the language to the tax bill, along with Senate Agriculture Committee Chairman Pat Roberts. Previously, NCFC said the tax legislation would result in a tax increase on farmers if the deduction was removed in the bill, as planned. National Milk Producers Federation President Jim Mulhern says the final bill still repeals the deduction, but “allows cooperative members to claim a new 20 percent deduction on payments from a farmer cooperative.” Cooperatives would also be able to claim the 20-percent deduction on gross income less payments to patrons, limited to the greater of 50 percent of wages or 25 percent of wages plus 2.5 percent of the cooperative’s investment in property. Mulhern says the favorable treatment for gross income “will help minimize any potential increase in the tax burden on farmer-owned cooperatives.”

The Environmental Protection Agency plans to complete formal repeal of the Waters of the U.S. Rule in April 2018. Politico reports an updated regulatory agenda from the White House also shows a replacement rule is scheduled for proposal in May. A final version of the rule is not expected until June 2019. President Donald Trump issued an executive order earlier this year repealing WOTUS, a move EPA Administrator Scott Pruitt told the American Farm Bureau Federation at the time would bring certainty in water regulation for farmers and ranchers. AFBF has been calling on the EPA to “ditch the rule” since it was proposed during the Obama administration. National Corn Growers Association public policy director Ethan Matthews has previously said it was important that the new rule doesn’t say “everything under the sun” falls under the jurisdiction of the Clean Water Act, noting that corn growers farm over 90 million acres in the country, meaning they have a big role to play in the nation’s water quality.

(NCGA) Improved seed varieties, advanced production techniques and innovative growing practices helped corn growers achieve ever-higher yields in the National Corn Growers Association 2017 National Corn Yield Contest. Again, this year, five national entries surpassed the 400-plus bushel per acre mark. The National Corn Yield Contest is now in its 53rd year and remains NCGA’s most popular program for members. “So many corn farmers initially join the National Corn Growers Association for the chance to participate in the National Corn Yield Contest,” said John Linder, chair of NCGA’s Engaging Members Committee. “Yet, as they become more familiar with the breadth of activities NCGA carries out on the behalf of farmers, these members become increasingly involved and supportive. Just as the contest promotes the on-farm techniques developed by many single growers to benefit all corn farmers, NCGA’s grassroots efforts join the single voices of members together to create positive change and real opportunities for our industry.” Winners receive national recognition in publications such as the NCYC Corn Yield Guide, as well as cash trips or other awards from participating sponsoring seed, chemical and crop protection companies. The winners will be honored during Commodity Classic 2018 in Anaheim, CA. You can visit the National Corn Growers Association website www.ncga.com for the complete list of National and State winners.

The Farm Credit Administration released a quarterly report on economic issues affecting agriculture and updated the financial condition of the Farm Credit System. The report says the USDA is predicting farm income will stabilize near its historical average. The USDA is predicting an increase in farm income, rising from $93.3 billion in 2016 to 96.9 billion in 2017. Factors driving the gain include stronger cash receipts for cattle and calves, hogs, broilers, and dairy. Cash receipts for most crops are forecast lower for 2017. With inflation adjustment factored in, net-cash income is near the long-term average (1960 to 2016) for the second-straight year. The report also says several economic and policy issues could affect the Farm Credit System. Strong crop production levels are dragging down prices. That means increasing demand will be a key for the crop and protein sectors. The report also says changes to farm and trade policy could affect farm income and the ability of farmers to manage risk. Concerns remain about whether or not farmers have enough liquidity to cover farm expenses and pay loans. Overall, the report says the System is safe and financially sound, and should be able to face the risks posed to agriculture.

More than 70 agricultural groups sent a letter to congressional leaders asking for an increase in the agricultural budget for the 2018 Ag Appropriations Bill that Congress is developing. The Hagstrom Report quotes the letter as saying the coalition includes groups from the food, agriculture, scientific, academic, veterinary, and consumer sectors. The letter says, “We urge you to substantially increase the discretionary budget cap for domestic programs and provide an allocation for the 2018 appropriations bill of five percent of the total domestic discretionary budget cap increase.” The groups point out that the food and agricultural sectors alone contribute nearly $1 trillion to the nation’s economy every year, or about 5.5 percent of the nation’s GDP. The sector also supports over 22 million American jobs, about 15 percent of overall employment in the U.S. They say more support for the Ag sector is necessary for America to maintain its leadership position in global food production. The letter also points out that, “Since 2010, the inflation-adjusted agricultural appropriations budget has fallen by 20 percent, while most other allocations have either grown or not faced the same depth of cuts.

The Organization for Competitive Markets has filed a lawsuit against the U.S. Department of Agriculture over the withdrawal of the interim final rule, which was an update to the Grain Inspections, Packers, and Stockyards Act of 1921. The OCM sees the rule as protection for family farmers and ranchers in sales of live animals to meat and poultry processors. Meating Place Dot Com says the interim final rule was known as the Fair Farmer Practice Rule, a set of regulations the processing industry widely opposed. The lawsuit seeks to reinstate the interim final rule. In a news release, OCM says those rules, “prohibit major meat and poultry producers who contract with farmers from engaging in unfair and deceptive practices.” The group also says the rule would have allowed farmers and ranchers to hold businesses accountable for practices like retaliation, bad faith cancellation of contracts, or attempting to force farmers out of the market. The Organization for Competitive Markets filed the suit as a Petition for Review in the Eighth Circuit of the U.S. Court of Appeals.