The Conference report on the final version of the Tax Cuts and Jobs Act, passed the House Tuesday on a 227-203 vote, with 12 Republicans voting with the opposition. The House immediately sent the bill to the Senate for consideration, which stayed late to hash out its final debate on the bill before voting on the bill. The Senate approved the Conference Report by a party line 51 to 48 vote- but made three technical changes to the bill- forcing a second vote in the House that will happen this morning around 10 AM Central time.

The White House has signaled that a News Conference will happen midday today with the President responding to Congress on the historic vote. Once he signs the measure, it will give the American people the most sweeping changes to our tax code in more than 30 years as a gift just in time for Christmas.

While Republicans are touting this massive legislative undertaking as a major win for the American people, National Cattlemen's Beef Association Tax Specialist Danielle Beck says when it comes to agriculture - she gives it a B.


"For agriculture, you know, I would give it about a B," she said. "We're not in a terrible position but we're not in the best ever. I hate to say that but that's just where we are right now."

According to Beck, the new tax deal brokered by lawmakers in Washington has kept the step up in basis in its present form. This issue was critical to producers' priorities regarding tax reform. Beck says NCBA members were very vocal over the past year at their annual meetings to ensure this provision was preserved. Another issue pushed by NCBA equally hard, was a complete and full repeal of the Death Tax. Unfortunately, this is one area where Republican leaders fell short of their campaign promises. Rather than repealing it, Beck reports the new reform package only doubles the tax exemption for individuals and couples from $5 to $10 million and up roughly to $20 million, respectively, plus an index for inflation. What is worse - this doubling of the exemption will sunset after just eight years.

Down the road, Beck says the challenge will be to turn these temporary gains into permanent gains for cattle producers and others.

Listen to Danielle Beck of NCBA and I unpack the new tax reform changes, on yesterday's Beef Buzz - click here.

MEANWHILE- Senate Ag Committee Chairman Pat Roberts praises the final product- and he has several things that he believes is good for agriculture:

• Improves ability of the agricultural community to use the cash method of accounting, which provides flexibility in managing cash flow
• Creates a new system for small business passthroughs. The majority of farms and ranches are set up as passthroughs and the unique features of agricultural taxation are accommodated including attention to how the new rules will treat farmer cooperatives.
• Doubles the exemptions from the estate and gift tax, up to $22 million per couple.
• Protects the current ability for agricultural organizations and other charities to raise funds for operations.

The complete release from the Kansas Senator can be read by clicking or tapping here.

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. Click here to see the announcement from AFBF released yesterday.

The RaboResearch Food and & Agribusiness group recently published a new report on the continued global demand for wheat with a higher protein content. While this is good news for Canada's wheat export business, it is also a boon to canola producers.

Accordingly, demand for canola oil is expected to provide higher margins than for wheat. Due to overall demand for canola oil, domestic crush of Canadian canola is anticipated to increase over the next eight years.


"The total harvested area for grains and oilseeds in Canada has reached a new record in 2017, at over 25.6 million hectares (63.3 million acres)," notes RaboResearch Food & Agribusiness, Senior Grains & Oilseeds Analyst Sam Funk. "It was also the first year that canola held the largest share of planted area."


Funk asserts that it is critical Canadian producers take advantage of the high protein wheat while there is still a premium for it in the global market. He believes shifts in global vegetable protein and oil markets, specifically soybean and palm, will eventually show its impact on domestic crush and export demand for Canada's canola crop.

Oklahoma's sorghum industry was well-represented this year in the 2017 Yield Contest hosted by the National Sorghum producers.

Farmers from 24 states entered to win this year's contest. Producer yields are highlighted in 10 different categories.

Winners among the various categories from our state included Zachary Rendel, Ottowa Co.; Dan Herald Farms, Texas Co.; Kevin Pshigoda, Beaver Co.; Fischer & Fischer, Texas Co.; Drew Allen, Cimarron Co.; Neal Hofferber, Texas Co.; Ron & Mark Clancy Farms, Texas Co.; Double A Irrigation, Cimarron Co.; Nathan Miller, Custer Co.; Ed Regier Farms, Garfield and Grant Co.; and Scotty Herriman, Nowata Co.

"Congratulations to the 2017 NSP Yield Contest Winners. I look forward to meeting each one at the upcoming Commodity Classic," said NSP board of directors Chairman Don Bloss. "The yield contest highlights the continued efforts of sorghum growers and their dedication to yield and production enhancements across the nation."

The 2017 first place winner of the NSP Yield Contest was Winter Johnston of Pennsylvania in the Dryland Conventional-Till category with a yield of 228.07 bushels per acre.

NSP also recognized Ki Gamble as its newest inductee into the Sorghum Yield Contest Hall of Fame. Gamble had the highest yield in the 2003, 2007 and 2012 contests in the irrigated conventional-till category planting Pioneer 84G62 in Kiowa County, Kansas.

To see a complete list of the NSP Yield Contest national, state and county results, or to learn more about the contest, click here.

 

Missouri has announced fines for herbicide applicators stemming from 2016 dicamba investigations in the Southeast corner of the state. All the announced fines are for applicators in Dunklin County, in Missouri's bootheel region, bordering Arkansas. One applicator was cited for an alleged 149 violations, with a civil penalty settlement amount of $62,250.

The fines started at $1,500, and totaled more than $145,000 for eight applicators, in what the state calls the first wave of civil penalties. In 2016, the Missouri Department of Agriculture completed 121 complaint-based dicamba investigations. Federal investigators are also looking into six of the complaints from 2016 in the state.

Neighboring Arkansas in 2016 issued seven warnings and 47 civil penalties in 2016, and is investigating nearly 1,000 dicamba misuse complaints reported in 2017.

Missouri is investigating more than 300 complaints reported in 2017.