Herbicides have helped farmers control weeds for decades. Twenty years ago Monsanto created genetically modified seed that would grow into plants that wouldn’t die if they were sprayed with glyphosate, which is a chemical that will kill all living plants. This technology is referred to as “Roundup Ready,” and it created some of America’s first weed-free farms.
In 2013, a decision over genetically modified organisms, known as “GMO,” caused a significant decrease in the price of corn in America’s markets. Two varieties of genetically modified seed corn created by the company Syngenta led to a stoppage on all U.S. corn exports to China, one of the biggest buyers of American farm crops.
Many landlords and tenants could benefit from better farmland leases. Sometimes, the seemingly simple act of defining each party may be more complex than one assumes.
More complicated agreements such as “hybrid leases,” which contain elements of cash rent and crop-share, rely on formulating payments based on yield and crop prices. Other basic items such as lease duration or payment schedule could create pitfalls if both parties have not clearly established them. A good farmland lease will address these concerns, among others.
Ohio traditionally taxed tangible personal property, which most often affected businesses that used expensive machinery and equipment. After a few changes in the law, the question came up whether grain bins are more like doors and windows, which are taxed as part of real estate, or light fixtures, which are not taxed as real estate.
Crops planted near roadway intersections, often corn, can raise questions regarding who is responsible for an accident if the crops obstruct the view of traffic. Often the landowner or farmer can be found responsible if the crop unreasonably obstructs the view at an intersection.
Weather and other variables affect farmers every year. Commodity payments from the government are meant to offer farmers a safety net.