Issue 3 June 2021

INTERESTing Times How The Growing Government Debt and Fed Balance Sheets May Impact Your Farm's Risk Appetite

The COVID-19 pandemic continues to have adverse effects on employment and economic growth, prompting the Federal Reserve to leave rates unchanged at near zero. As the Fed continues to increase their balance sheet and absorb new debt, learn how to protect your farm business from the potential risk of future higher rates. Learn How to Protect Your Farm Business

Weather Outlook Update Cool Illinois Spring Shifts to Early Mid-Summer Heat

While most of Illinois’ crops thrive in favorable temperatures and soil moisture values, large parts of the eastern and western Corn Belt are experiencing significant soil moisture deficits. A build-up of heat is expected to hit in early June, which may make up for the cooler spring temperatures and provoke a pattern of summer storms. Watch the Latest Weather Outlook Update

Financial Relief Resources PPP Loan Forgiveness Applications Available

Loan Forgiveness Applications

FCI began accepting forgiveness applications for 2020 PPP loans on April 1, 2021 and for 2021 PPP loans on June 1, 2021. All borrowers who participated in the PPP through FCI and are seeking loan forgiveness must submit a PPP Loan Forgiveness application.

Learn More

2021 FreshRoots Directors Cup Recipients Announced $5,000 Award Recognizes Beginning Farmers with Bright Futures

Six young and beginning farmers and farm couples were named the FreshRoots Directors Cup honorees – celebrating their commitment to continuous learning and intentional living for a brighter future for their farm family business and community.

Meet the 2021 Honorees

Crop Insurance Deadlines Approaching Contact Your Agent Today with Questions

MAY 31 OR JUNE 5* Corn Final Plant Date – last date to plant with full coverage   JUNE 20 Soybean (NFAC) and Grain Sorghum Final Plant Date – last date to plant with full coverage   JULY 1 Wheat Premium Billing Date – interest on unpaid bills begins accruing after July 31   JULY 5 Soybean (FAC) Final Plant Date – last date to plant with full coverage   JULY 15 Corn & Soybean Acreage Reporting – last date to submit signed acreage reports for all spring-planted policies   *Contact FCI agent for county-specific dates Contact Your Crop Insurance Agent

Stockholder Leadership Opportunities Submit Interest Form by June 15

Ever considered serving in FCI’s cooperative leadership? Complete a candidate interest form to submit your name and information by June 15. Following the deadline, the 2021 nominating committee will review potential candidates to present at the Association’s annual meeting.

Candidate Interest Form

Cash Patronage Coming Soon #MembershipPays

Nearly 8,000 borrowers will receive their share of a $30 million cash patronage the week of June 14. This will be FCI’s second patronage distribution in 2021, with a total of $42.7 million of patronage distributed this year.

Learn More About Cash Patronage

Ag Innovation Challenge American Farm Bureau Accepting Applications

Farm Bureau and Farm Credit have partnered up in a hunt for innovative solutions to agricultural challenges. Apply for a share of $165,000, which will be awarded to startup companies addressing and solving issues in the agriculture industry.

Learn More About Ag Innovation Challenge

New Agriculture Center Opens at Lincoln Land FCI Supports Innovation and Collaboration Spaces

The newly opened Kreher Agriculture Center at Lincoln Land Community College (LLCC) in Springfield is a $7.5 million privately funded facility made possible by annual distributions from the Kreher Farm Charitable Trust. The building features “Innovation and Collaboration Rooms” sponsored by Farm Credit Illinois. These on-campus spaces will be used as classrooms and host a variety of meetings, seminars, contests, and conferences for students and the agriculture community.

Kreher Agriculture Center, a 19,750 square foot building CEO Aaron Johnson and Director Adam Brown tour the new facility

Raffles & Reactions Enter to Win Your Choice of a Mesh Cap or Rain Gauge

Ten winners will be selected to choose between the Richardson brand trucker cap and a magnifying rain gauge. This grey and black cap is the perfect companion to protect you from the sun on a hot summer day while the rain gauge can help you keep tabs on recent precipitation with its magnifying, durable make.

Enter to win

Congratulations to the winners of the backpack coolers following Issue 2:   William Lewis of White County Darrell Maxheimer of Sangamon County Linda Zumbahlen of Effingham County Paul Richert of Summit County, Ohio Joel Rogier of Madison County Gregory Smith of Lawrence County Jason Headen of Morgan County Karen Brown of Macon County Larry Luth of Edgar County Nick Voorhees of Jersey County In Issue 2 of Essentials in 2021, we asked readers about their perception of the COVID-19 vaccine. Here are the results from 250 respondents.

Ag Economy Barometer - from Purdue Producer Sentiment Declines to 158 in May

The Ag Economy Barometer measures the health of the U.S. agriculture economy with an index value based on a survey of agricultural producers on economic sentiment. A score of 100 means producer sentiment is unchanged from the six-month baseline research period; a score higher than 100 means sentiment improved from the base period; a score lower than 100 means sentiment declined versus the base period.

Learn More About the Barometer's Latest Reading

Staff in the Spotlight Welcome Aboard & Milestones

Get to know FCI’s newest team members and join us in giving a special tribute to employees who reached significant milestones in their years of service to members and rural communities.

Spotlight Slideshow

Illinois FFA Hosts 93rd State Convention Chapter Members Honored Over Two Weeks

With a 2021 theme of “Dare to Be,” the Illinois FFA State Convention honors achievements in-person at three different outdoor venues. The first session recognized chapter members from Districts 1 and 2 in Bloomington. The remaining sessions will be held in Carbondale – highlighting District 5 – and Springfield – naming the Stars Over Illinois, National Chapter winners, and Districts 3 and 4 honorees. State officer elections will also be held in Springfield. During the convention, FCI coordinates the Farm Credit Newsroom to capture images and publish news releases for awardees and new major state officers.