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Search results for 'Ag Policy'

  • Ag Policy

    Public
    A group for sharing and discussing ag policy updates regarding farm bill programs, conservation programs, crop insurance and just general ag policy out of Washington.
    Interest: Ag Policy

    Impact of Final Opportunity Zone Regulations on Farmers & Agribusinesses

    By Tyler Davis

    Published Jan 8  

    Overall, these final regulations did a great job of answering most of the open farming & agribusiness questions proposed by tax practitioners... However, these proposed regulations failed to address many of the concerns expressed by tax practitioners related to the implications of the Opportunity Zone program for agriculture businesses or farmers... While this conclusion is clear from a traditional commercial real estate perspective, farmers and agribusinesses expressed concern about how to qualify from an agricultural land perspective... So, uncertainty existed around what land investments and land improvements would qualify for the Opportunity Zone program in the agriculture industry... Farmers and agribusiness entities that sell assets used in a trade or business for a capital gain no longer have to wait until the end of the tax year to invest their capital gains into an opportunity zone project...

    Categories: Ag Policy, Agribusiness

    12 Upvotes
    5 Shares
    2 Reposts

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    Tax Agriculture Tax Planning Strategies for Year End 2019 – Part 2

    By Tyler Davis

    Updated May 14  

    This is the second of a two-part series focusing on tax savings, planning opportunities, and other tax considerations for year-end 2019. Part I, published on AgFuse in November of 2019, focused on planning opportunities for farmers with higher than expected earnings in 2019 while Part II focuses on tax planning opportunities for farmers with lower than expected current year performance... One of the major goals in this scenario is to avoid a tax loss for the year because the new loss rules in effect for farmers are much different than they were before the passage of the Tax Cuts and Jobs Act of 2017... Tyler Davis is a CPA who works for SVN Saunders Ralston Dantzler real estate as an asset manager and advisor. SVN Saunders Ralston Dantzler was founded by Dean Saunders in 1996 and is a leading agricultural land brokerage based in Lakeland, FL...

    Categories: Ag Policy, Agribusiness

    6 Upvotes
    5 Shares
    3 Reposts

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    Key Agriculture Tax Planning Strategies for Year End 2019 – Part 1

    By Tyler Davis

    Published Nov 1, 2019  

    This is the first of a two-part series focusing on tax savings, planning opportunities, and other tax considerations for farmers and agriculture businesses for year-end 2019. Part I focuses on when a farming taxpayer has higher than expected earnings in 2019 while Part II, which was published on AgFuse... One of the major tax planning opportunities for farmers is the ability to make an income averaging election, which is discussed in detail in The Top 10 Accounting & Tax Benefits for Farmers & Farming Businesses. As discussed in this article, Certain qualifying farming businesses can elect to be taxed on an average tax rate of their running three years of income... For further details, please see this IRS chart2019 IRA Deduction Limits - Effect of Modified AGI on Deduction if You Are Covered by a Retirement Plan at Work | Internal Revenue Service2017 IRA Deduction Limits - Effect of Modified AGI on Deduction if You Are Covered by a Retirement Plan at WorkOne final tax planning opportunity relating to capital gains triggered in 2019 is to put those capital gains in a Qualified Opportunity Zone Fund...

    Categories: Ag Policy, Agribusiness

    7 Upvotes
    4 Shares
    5 Reposts

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    What does the $2 Trillion Federal Relief Package Mean for Agriculture?

    By Tyler Davis

    Published Mar 28  

    Late in the afternoon on Friday, March 27th, the United States House of Representatives passed the $2 trillion federal relief package called Coronavirus Aid, Relief, and Economic Security Act (CARES)... However, income phase-out limits begin at $75,000 of Adjusted Gross Income (AGI) for a single filer and $150,000 AGI for a married couple filing jointly... This provision is vitally important and will help individual farmers and workers at agribusinesses and farming operations... 5 times their average monthly payroll (with a maximum loan of $10 million). The portion of these loans used on rent, payroll, mortgage, and utilities by the company in the first eight weeks will be forgiven by the Federal government...

    Categories: Ag Policy, Agribusiness

    6 Upvotes
    6 Shares
    4 Reposts

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    Ag Health and Safety Alliance

    By David Sullivan Ag Safety

    Published May 3, 2019  

    We are an international nonprofit organization, registered in the US and Canada, that focuses on health and safety for the next generation of agriculture We collect this data via a survey completed by students. With our international standardized survey we can now compare students from US, Canada, Australia, Denmark and Sweden. Doing our part to help protect the most noble industry on this planet. ...

    Categories: Ag Policy, Agribusiness

    1 Upvote

    Post As

    AgFuse Administrator United States, SC, Blenheim

    Business Title: AgFuse LLC
    Job Title: Adminstrator
    About: AgFuse is a social media network created specifically to connect farmers and agriculture professionals throughout the world.
    Interests: Corn, Cotton, Peanuts, Soybeans, Wheat, Vegetables, Rice, Canola, Sorghum, Beef, Dairy, Poultry, Swine, Cover Crops, Ag Policy, Precision Agriculture, Organic Row Crops, Irrigation, Timber, Marketing, Agribusiness

    1031 Exchanges and Farm Land: 5 Things that Landowners Need to Know

    By Tyler Davis

    Published Aug 2, 2019  

    A 1031 Exchange is a tax-deferred swap program in which farmers and others in the agriculture industry can participate. Farmland, vacant land, and certain agriculture assets are considered real estate assets under the Internal Revenue Code... While there has been extensive guidance and content on 1031 Exchanges in the context of residential, retail, office, and industrial properties, there is a lack of content on how 1031 exchanges apply to the agriculture industry. I have identified five items that all farmers and agriculture business owners should know, as follows:#1 – You’re allowed to do a 1031 Exchange on your Farmland Should you wish to sell your existing farm land and buy like kind property, this exchange should qualify for tax deferred treatment, meaning you don’t have to pay the tax currently... #2 – The Tax Cuts & Jobs Act of 2017 changed the rules for Farmers The Tax Cuts & Jobs Act of 2017 (Tax Reform) brought huge changes to the tax structure in the United States and the agriculture industry was not exempt...

    Categories: Ag Policy, Agribusiness

    4 Upvotes
    7 Shares
    2 Reposts

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    The Tax Benefits of Conservation Easements

    By Tyler Davis

    Published Oct 6, 2019  

    Conservation easements have grown in popularity in recent years, partly due to the impactful tax benefits available to the donor... Certain agricultural workers can take up to 100% of their income as a charitable contribution in a given year (the same carryforward rules apply should the amount of the total conservation easement charitable contribution deduction exceed 100% their taxable income)... Therefore, in order to mitigate the effect of the decreased property value and to encourage landowners to consider this program, the IRS increased the amount of tax benefits associated with the conservation easement initiative in 2015... Internal Revenue Code (IRC) Section 2031(c) allows taxpayers to exclude a percentage of the value of land subject to a conservation easement from the taxpayer’s taxable estate at death (the basic rule is forty percent (40%) but could be slightly modified depending on the fact pattern of the taxpayer... SVN Saunders Ralston Dantzler is leading agricultural land and commercial brokerage and development based in Lakeland, FL...

    Categories: Ag Policy, Agribusiness

    2 Upvotes
    3 Shares

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    Top 10 Accounting & Tax Benefits for Farmers & Farming Businesses

    By Tyler Davis

    Published Sep 11, 2019  

    Farmers and Agribusiness Companies are granted certain tax breaks and industry-specific deductions from the IRS... Farms with less than $25 Million of Average Gross Receipts can use the Cash Basis of AccountingCompanies, including farms, with less than $25 million in average annual gross receipts for the past three years, can elect to use either the cash or accrual method of accounting... Farmers with under $25m in average gross receipts are allowed to use the cash method, which allows them to record crop sales in the year the cash is received and to record expenses when the payments are actually made... Unit-Livestock-Price MethodFarmers who use this method for valuing livestock must group livestock together by their type and age. Then, the taxpayer must apply a standard price for each type or group of animals/age...

    Categories: Ag Policy, Agribusiness

    5 Upvotes
    5 Shares
    2 Reposts

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  • AgFuse Administrator United States, SC, Blenheim

    Business Title: AgFuse LLC
    Job Title: Adminstrator
    About: AgFuse is a social media network created specifically to connect farmers and agriculture professionals throughout the world.
    Interests: Corn, Cotton, Peanuts, Soybeans, Wheat, Vegetables, Rice, Canola, Sorghum, Beef, Dairy, Poultry, Swine, Cover Crops, Ag Policy, Precision Agriculture, Organic Row Crops, Irrigation, Timber, Marketing, Agribusiness

    Ryan Sorrels United States, OK, El Reno

    Business Title: Sorrels Farms, Canadian Hills Produce, And Sorrels Custom Harvesting
    Job Title: Owner
    Interests: Cotton, Soybeans, Wheat, Vegetables, Canola, Sorghum, Beef, Cover Crops, Ag Policy, Precision Agriculture, Irrigation, Marketing, Agribusiness

    Mike Kollat United States, WI, Oshkosh

    Interests: Corn, Soybeans, Wheat, Vegetables, Beef, Dairy, Ag Policy, Marketing, Agribusiness

    Jacquelynn Beckers United States, PA, Phoenixville

    Business Title: Thin Cow Inc.
    Job Title: Other Ag Professional, Marketing Specialist
    Interests: Corn, Cotton, Peanuts, Soybeans, Wheat, Vegetables, Rice, Canola, Sorghum, Beef, Dairy, Poultry, Swine, Cover Crops, Ag Policy, Precision Agriculture, Organic Row Crops, Irrigation, Timber, Marketing, Agribusiness

    Sam Baker United States, AZ, Tucson

    Business Title: Farm Flight
    Job Title: CFO
    About: Hi! I am a partner at Farm Flight LLC. Our goal as a company is to provide farmers with valuable insights and data that will help them cut costs and increase yields. With the use of drones, we are able to gather data such as plant counts, survey grade geographical data, NDVI maps, weed detection and much more! Come check us out at farmflightaz.com
    Interests: Corn, Cotton, Peanuts, Soybeans, Wheat, Vegetables, Rice, Canola, Sorghum, Cover Crops, Ag Policy, Precision Agriculture, Organic Row Crops, Irrigation, Marketing, Agribusiness

  • Ag Policy

    Public
    A group for sharing and discussing ag policy updates regarding farm bill programs, conservation programs, crop insurance and just general ag policy out of Washington.
    Interest: Ag Policy

    AgFunder

    Public
    A digitally native foodtech and agtech venture capital firm with an active media arm in AgFunderNews.com
    Interest: Cover Crops, Ag Policy, Precision Agriculture, Organic Row Crops, Irrigation, Timber, Marketing, Agribusiness

    Agriculture, AgriTech And FoodTech

    Public
    Connected Business enterprises, SMEs, Social Enterprises, Nonprofit Organizations and Start-ups to Funding, Grants and Business opportunities in Agriculture, Livestock, Agrifood, AgriTech and FoodTech
    Interest: Corn, Cotton, Peanuts, Soybeans, Vegetables, Rice, Canola, Sorghum, Beef, Dairy, Poultry, Swine, Precision Agriculture, Organic Row Crops, Irrigation, Agribusiness

    Pakistani Agriculturist

    Public
    Pakistani Agriculturist, A group for Pakistani farmers to share success stories and ask questions.
    Interest: Ag Policy, Agribusiness, Marketing, Organic Row Crops, Precision Agriculture, Timber, Canola, Corn, Cotton, Sorghum, Peanuts, Rice, Soybeans, Vegetables, Wheat, Beef, Dairy, Swine, Poultry

    Agribusiness Insurance Advisors

    Public
    We are an insurance agency dedicated to providing competitive insurance and risk transfer solutions that protect farms, families and agribusiness companies that we serve.
    Interest: Corn, Cotton, Peanuts, Soybeans, Wheat, Vegetables, Sorghum, Beef, Dairy, Poultry, Marketing, Agribusiness, Ag Policy, Cover Crops, Irrigation, Organic Row Crops, Precision Agriculture, Timber, Canola, Rice, Swine

    AgTech News By Agroop

    Public
    News, articles and opinion pieces on AgTech.
    Interest: Precision Agriculture

    AgFuse Exclusive Content

    Public
    This group contains content that is exclusive to AgFuse members only.
    Interest: Agribusiness

    Ag Talk With The Ag Doc

    Public
    All things agronomy! Get the latest news, research, and interviews with leaders in the world of agriculture. Hosted by Dr. Curtis Livesay, CCA, of Dynamite Ag.
    Interest: Corn, Soybeans, Wheat, Vegetables, Cover Crops, Ag Policy, Agribusiness

    Precision Ag

    Public
    GPS, precision soil sampling, UAV\\\'s (drones) data acquisition and management, etc
    Interest: Precision Agriculture

  • Impact of Final Opportunity Zone Regulations on Farmers & Agribusinesses

    By Tyler Davis

    Published Jan 8  

    Overall, these final regulations did a great job of answering most of the open farming & agribusiness questions proposed by tax practitioners... However, these proposed regulations failed to address many of the concerns expressed by tax practitioners related to the implications of the Opportunity Zone program for agriculture businesses or farmers... While this conclusion is clear from a traditional commercial real estate perspective, farmers and agribusinesses expressed concern about how to qualify from an agricultural land perspective... So, uncertainty existed around what land investments and land improvements would qualify for the Opportunity Zone program in the agriculture industry... Farmers and agribusiness entities that sell assets used in a trade or business for a capital gain no longer have to wait until the end of the tax year to invest their capital gains into an opportunity zone project...

    Categories: Ag Policy, Agribusiness

    12 Upvotes
    5 Shares
    2 Reposts

    Post As

    Tax Agriculture Tax Planning Strategies for Year End 2019 – Part 2

    By Tyler Davis

    Updated May 14  

    This is the second of a two-part series focusing on tax savings, planning opportunities, and other tax considerations for year-end 2019. Part I, published on AgFuse in November of 2019, focused on planning opportunities for farmers with higher than expected earnings in 2019 while Part II focuses on tax planning opportunities for farmers with lower than expected current year performance... One of the major goals in this scenario is to avoid a tax loss for the year because the new loss rules in effect for farmers are much different than they were before the passage of the Tax Cuts and Jobs Act of 2017... Tyler Davis is a CPA who works for SVN Saunders Ralston Dantzler real estate as an asset manager and advisor. SVN Saunders Ralston Dantzler was founded by Dean Saunders in 1996 and is a leading agricultural land brokerage based in Lakeland, FL...

    Categories: Ag Policy, Agribusiness

    6 Upvotes
    5 Shares
    3 Reposts

    Post As

    Key Agriculture Tax Planning Strategies for Year End 2019 – Part 1

    By Tyler Davis

    Published Nov 1, 2019  

    This is the first of a two-part series focusing on tax savings, planning opportunities, and other tax considerations for farmers and agriculture businesses for year-end 2019. Part I focuses on when a farming taxpayer has higher than expected earnings in 2019 while Part II, which was published on AgFuse... One of the major tax planning opportunities for farmers is the ability to make an income averaging election, which is discussed in detail in The Top 10 Accounting & Tax Benefits for Farmers & Farming Businesses. As discussed in this article, Certain qualifying farming businesses can elect to be taxed on an average tax rate of their running three years of income... For further details, please see this IRS chart2019 IRA Deduction Limits - Effect of Modified AGI on Deduction if You Are Covered by a Retirement Plan at Work | Internal Revenue Service2017 IRA Deduction Limits - Effect of Modified AGI on Deduction if You Are Covered by a Retirement Plan at WorkOne final tax planning opportunity relating to capital gains triggered in 2019 is to put those capital gains in a Qualified Opportunity Zone Fund...

    Categories: Ag Policy, Agribusiness

    7 Upvotes
    4 Shares
    5 Reposts

    Post As

    What does the $2 Trillion Federal Relief Package Mean for Agriculture?

    By Tyler Davis

    Published Mar 28  

    Late in the afternoon on Friday, March 27th, the United States House of Representatives passed the $2 trillion federal relief package called Coronavirus Aid, Relief, and Economic Security Act (CARES)... However, income phase-out limits begin at $75,000 of Adjusted Gross Income (AGI) for a single filer and $150,000 AGI for a married couple filing jointly... This provision is vitally important and will help individual farmers and workers at agribusinesses and farming operations... 5 times their average monthly payroll (with a maximum loan of $10 million). The portion of these loans used on rent, payroll, mortgage, and utilities by the company in the first eight weeks will be forgiven by the Federal government...

    Categories: Ag Policy, Agribusiness

    6 Upvotes
    6 Shares
    4 Reposts

    Post As

    Ag Health and Safety Alliance

    By David Sullivan Ag Safety

    Published May 3, 2019  

    We are an international nonprofit organization, registered in the US and Canada, that focuses on health and safety for the next generation of agriculture We collect this data via a survey completed by students. With our international standardized survey we can now compare students from US, Canada, Australia, Denmark and Sweden. Doing our part to help protect the most noble industry on this planet. ...

    Categories: Ag Policy, Agribusiness

    1 Upvote

    Post As

    1031 Exchanges and Farm Land: 5 Things that Landowners Need to Know

    By Tyler Davis

    Published Aug 2, 2019  

    A 1031 Exchange is a tax-deferred swap program in which farmers and others in the agriculture industry can participate. Farmland, vacant land, and certain agriculture assets are considered real estate assets under the Internal Revenue Code... While there has been extensive guidance and content on 1031 Exchanges in the context of residential, retail, office, and industrial properties, there is a lack of content on how 1031 exchanges apply to the agriculture industry. I have identified five items that all farmers and agriculture business owners should know, as follows:#1 – You’re allowed to do a 1031 Exchange on your Farmland Should you wish to sell your existing farm land and buy like kind property, this exchange should qualify for tax deferred treatment, meaning you don’t have to pay the tax currently... #2 – The Tax Cuts & Jobs Act of 2017 changed the rules for Farmers The Tax Cuts & Jobs Act of 2017 (Tax Reform) brought huge changes to the tax structure in the United States and the agriculture industry was not exempt...

    Categories: Ag Policy, Agribusiness

    4 Upvotes
    7 Shares
    2 Reposts

    Post As

    The Tax Benefits of Conservation Easements

    By Tyler Davis

    Published Oct 6, 2019  

    Conservation easements have grown in popularity in recent years, partly due to the impactful tax benefits available to the donor... Certain agricultural workers can take up to 100% of their income as a charitable contribution in a given year (the same carryforward rules apply should the amount of the total conservation easement charitable contribution deduction exceed 100% their taxable income)... Therefore, in order to mitigate the effect of the decreased property value and to encourage landowners to consider this program, the IRS increased the amount of tax benefits associated with the conservation easement initiative in 2015... Internal Revenue Code (IRC) Section 2031(c) allows taxpayers to exclude a percentage of the value of land subject to a conservation easement from the taxpayer’s taxable estate at death (the basic rule is forty percent (40%) but could be slightly modified depending on the fact pattern of the taxpayer... SVN Saunders Ralston Dantzler is leading agricultural land and commercial brokerage and development based in Lakeland, FL...

    Categories: Ag Policy, Agribusiness

    2 Upvotes
    3 Shares

    Post As

    Top 10 Accounting & Tax Benefits for Farmers & Farming Businesses

    By Tyler Davis

    Published Sep 11, 2019  

    Farmers and Agribusiness Companies are granted certain tax breaks and industry-specific deductions from the IRS... Farms with less than $25 Million of Average Gross Receipts can use the Cash Basis of AccountingCompanies, including farms, with less than $25 million in average annual gross receipts for the past three years, can elect to use either the cash or accrual method of accounting... Farmers with under $25m in average gross receipts are allowed to use the cash method, which allows them to record crop sales in the year the cash is received and to record expenses when the payments are actually made... Unit-Livestock-Price MethodFarmers who use this method for valuing livestock must group livestock together by their type and age. Then, the taxpayer must apply a standard price for each type or group of animals/age...

    Categories: Ag Policy, Agribusiness

    5 Upvotes
    5 Shares
    2 Reposts

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    Is Your Farm a Hobby or a Business for IRS Tax Purposes?

    By Tyler Davis

    Updated May 13  

    Many taxpayers are surprised to find out that the IRS taxes hobby income. We all have hobbies... As previously mentioned, the income from a farming hobby is reported directly on page 1 of Form 1040... The time and effort you spend on farming indicate you intend to make it profitable How many hours on average did the farmer spend on this hobby? What steps were taken to enhance profitability? Documentation of hours spent & activities performed is paramount... SVN: Saunders Ralston Dantzler is a leading agricultural land brokerage based in Lakeland, FL...

    Categories: Ag Policy, Agribusiness

    5 Upvotes
    3 Shares
    2 Reposts
    2 Comments

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    Delaware Statutory Trust – Implication to Landowners & Farmers

    By Tyler Davis

    Updated Sep 15  

    The Delaware Statutory Trusts (DST) is a newer investment vehicle that allows real estate property owners, including farmers and ag landowners, to purchase tenants in common ownership in passive investment properties... Delaware Statutory Trusts have many advantages over traditional real estate purchases and traditional 1031 Exchanges... It’s another advantage of a DST compared to other Section 1031 exchange assets. Rather than having to play landlord and collect rent each month from tenants, the DST is allowed to be the property manager and oversee property operations on behalf of the investors... Investors who are used to having total control of investments (either real estate or stock/bond investments) might not like the fact that a management group of experts in deciding which properties to invest in with their money...

    Categories: Ag Policy, Agribusiness

    6 Upvotes
    6 Shares
    1 Repost

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  • Posted By Organic Farming
    Oct 9  

    https://www.capitalpress.com/ag_sectors/organic/organic-farmers-want-seat-at-the-table-in-climate-discussions/article_aa730692-04df-11eb-9b5d-3face42da7f5.html

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    Posted By Ag Policy
    Oct 8  

    https://www.dtnpf.com/agriculture/web/ag/blogs/ag-policy-blog/blog-post/2020/10/08/usda-disaster-program-whip-plus-2

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    Posted By Gary Marsh
    21 hours ago  

    https://www.agri-pulse.com/articles/14716-trump-admin-claims-successes-in-china-phase-one-pact
     

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    Posted By Ag Policy
    Oct 20  

    https://www.dtnpf.com/agriculture/web/ag/crops/article/2020/10/20/usda-seeks-comments-bt-cotton-trait
    1 Upvote
    1 Repost

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    Posted By Ag Policy
    Oct 14  

    https://www.dtnpf.com/agriculture/web/ag/blogs/ethanol-blog/blog-post/2020/10/14/supreme-court-nominee-barrett-laws

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    Posted By Poultry Farming
    Oct 14  

    https://www.farmprogress.com/business/pilgrims-doj-reach-plea-deal

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    Posted By Canola Growers
    Oct 9  

    https://www.realagriculture.com/2020/10/u-s-canola-industry-pushes-for-renewable-fuel-credits/

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    Posted By Conservation
    Oct 9  

    https://www.no-tillfarmer.com/articles/10052-nrcs-rule-change-could-help-producers-implement-more-conservation-activities
    1 Upvote
    1 Share
    1 Repost

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    Posted By Cotton News
    Oct 9  

    https://www.cottonfarming.com/production-2/epa-proposal-could-drastically-change-bt-cotton-resistance-management/

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    Posted By Poultry Farming
    Oct 8  

    https://www.farmprogress.com/poultry/chicken-industry-price-fixing-probe-expands

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