Every time we go buy something now, you know, the tariffs, what I've seen, uh, the tariffs passed down to the consumer. >> So, if you have to go buy a new sprayer, like the one behind you, >> anything that comes from China that's on that sprayer, there's a tariff and they're just going to pass it directly to us. So the tariffs are hitting you more on the purchasing end than they are on the crop sales. ...

Welcome to the 170th annual West Tennessee State Fair in Henderson, Tennessee. Since 1855, the West Tennessee State Fair has been the place where farmers from across the state come to show off their prized livestock and crops. It's where we met Jeffrey Daniels and Franklin Carmarmac, friends since high school.They grow cotton, soybeans, and corn on their family farms. as far back as I've been able to trace, uh, my, uh, my greatgranddaddy's daddy was a sharecropper and then it just got passed down through th ...

US-China Trade Relations & Impact on Agriculture - Trade tensions between the US and China are cooling off, but American farmers are still feeling the effects [1] - A trade truce has raised hopes, but it's not a done deal, with fundamental issues remaining [2][8] - The trade war led China to specifically target US soybeans, causing financial problems for American farmers [3] Soybean Market Dynamics - One farmer, Gaffner, previously sold 40% of his soybean exports to China, which dropped to zero during the trade war [3] - The White House anticipates China will purchase 12 million metric tons of soybeans by the end of the year and 25 million metric tons annually for the next three years [5] - These projected purchases are still less than the nearly 27 million metric tons China bought in 2024 [5] - China maintains a 13% tariff on US soybeans, making them more expensive compared to soybeans from other countries [6] Farmer Sentiment & Actions - Farmers are hopeful for a continuation of smooth trade relations, but recognize the complexities involved [5] - Despite challenges, farmers remain optimistic, with some securing shipments towards the end of their trade trips [5] - American soybean farmers desire a level playing field to facilitate business [6] Policy & Economic Factors - China is taking steps to ease tensions, including suspending port fees and easing curbs on rare earth controls [7] - The latest trade truce has stabilized things for the moment, but fundamental issues persist [8]

Core Insights - The transformation of previously abandoned land into productive agricultural land has led to the successful cultivation and sale of a unique variety of winter melon, known as "fragrant taro winter melon," which has gained popularity in major cities across China [4][5][6]. Group 1: Agricultural Development - The introduction of 3,500 acres of previously idle land for cultivation has resulted in the production of 75 tons of winter melon, which sold out on its first day at Sam's Club [4][6]. - The fragrant taro winter melon, a foreign variety, has a high market value and can be stored for two to three months at room temperature, making it a viable product for long-term sales [5][6]. - The average yield of the fragrant taro winter melon can reach between 6,000 to 10,000 pounds per acre, showcasing its productivity [5]. Group 2: Economic Impact - The cultivation of winter melon has created approximately 80 job opportunities for local villagers, with an average daily wage of 100 yuan, leading to an expected annual labor cost of 2.1 million yuan [8]. - The village collective has generated an additional income of 560,000 yuan within six months from the agricultural activities [8]. - The local economy has improved, with a notable change in community behavior, as residents are now more engaged in productive activities rather than leisure [9]. Group 3: Future Prospects - The supply chain for the fragrant taro winter melon has been established with strict quality control measures, leading to a stable daily shipment of around 12,000 melons, indicating strong market demand [6]. - Plans for expanding production include adopting hanging cultivation methods to enhance the quality and reduce damage to the melons [6]. - The village is also exploring the cultivation of other unique crops, such as a new functional vegetable that combines the taste of traditional vegetables with medicinal properties, indicating a focus on innovation in agriculture [9].

American farmers have long struggled with high costs and low prices for their crops. But this year, there is even greater uncertainty in the fields. China stopped buying all US soybeans in May. Retaliation for President Trump's tariffs. Many American farmers were left without their largest export market. President Trump and China's President Xiinping came to a temporary truce. But farmers told us that whatever happens next with tariffs, the problems on their farms continue to run deep. We went to rural Tenn ...

Market Trends - Farmers are delaying new equipment purchases [1] - China, the world's largest commodities buyer, has been avoiding imports of US crops for months [1]

American farmers have long struggled with high costs and low prices for their crops. But this year, amid trade wars and tariffs, there is even greater uncertainty in the fields. >> I heard it's affecting your health.>> Yes. Four blood pressure pills a day. >> Three different medicines.Two years ago, none. >> What do you think about when you go to bed at night. >> What's going to be left in a year.Am I the one that that broke what started in the late 1800s. ...

Billionaire philanthropist Bill Gates is pouring money into helping small-scale farmers adapt to climate change and address a gap in funding for food production. https://t.co/GgAJ3YnWTd ...

Financial Data and Key Metrics Changes - For Q3 2025, Tejon Ranch reported net income of $1.7 million, or $0.06 per share, compared to a net loss of $1.8 million, or $0.07 per share, in the same period last year [8] - Total revenues increased by 10% year-over-year to $12 million, while total costs and expenses declined by nearly 5% [8][12] - Adjusted EBITDA for the year-to-date period was $13.9 million, up 7.3% from the same period last year [12] Business Line Data and Key Metrics Changes - Farming operations saw revenues improve by more than 50% year-over-year, with GAAP operating losses reduced by 40% [10] - Real estate, commercial, and industrial revenues increased by 4% to $3.1 million, with operating income rising 7% to $976,000 [9] - Mineral resources produced operating income of $1.1 million on revenues of $3.2 million, stable year-over-year [10] Market Data and Key Metrics Changes - The industrial portfolio at Tejon Ranch Commerce Center remains 100% leased, while the commercial portfolio is 95% leased, and the Outlets at Tejon maintain a 90% occupancy [6] - The TA Petro joint venture remains the highest-performing profit center, generating $1.9 million in the quarter despite reduced traffic impacting sales [7][10] Company Strategy and Development Direction - The company aims to enhance transparency and communication with shareholders, marking the first quarterly earnings call as part of this initiative [4][5] - Tejon Ranch is focused on developing master plan communities, with the Grapevine Master Plan community currently advancing through design [7] - The company is exploring additional residential developments around TRCC, including multifamily housing [55] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that while the quarter showed positive results, there is still significant work to be done to improve operational efficiency and profitability [14] - The company is committed to cost discipline, having recently completed a workforce reduction that will save over $2 million annually [15] - Management believes that the combination of resilient operating assets and growing rental income positions Tejon Ranch well for future growth [13] Other Important Information - Total assets increased to $630 million from $608 million at year-end, with total debt standing at $91.9 million, resulting in a debt-to-total capitalization ratio of approximately 16% [12] - Year-to-date capital investment was $49.9 million, primarily tied to the construction of Terra Vista and infrastructure at TRCC East [12] Q&A Session Summary Question: Should the company sell land and buy back stock? - Management emphasized the goal of creating long-term shareholder value through master plan communities, while remaining open to monetizing land holdings if compelling opportunities arise [16] Question: What is the policy on disclosing detailed cost information? - The company provides information on material cash requirements and estimated costs in SEC filings, but specific capital cost estimates for initial development phases have not yet been disclosed [18][20] Question: Will the company disclose accounting policies for community development? - Accounting for construction costs is done in accordance with GAAP, with costs capitalized while activities are in progress [22] Question: What is the expected absorption level for the first phases of development? - Absorption is considered when proceeding with development, with expectations for a joint venture partner to drive market rate returns [23] Question: Will the sale of land in phase one result in a profit or loss? - Initial phases of development are likely to incur significant upfront infrastructure costs, making it unlikely to include a book profit [24] Question: What is the company's plan for Mountain Village and Centennial? - Management plans to seek joint venture partners for both projects to avoid shareholder dilution and expects a timeline of 18 to 24 months for Mountain Village to start generating revenue [30][31] Question: Why not focus on TRCC instead of MPCs? - Management stated that TRCC remains the focus, with significant capital deployed there over the past five years, and the casino expected to enhance traffic and growth [37] Question: When will shareholders see returns? - Management aims to implement a plan to create shareholder value, including potential dividends or share repurchases in the future [40][41] Question: What is the company's stance on governance and board size? - Management plans to address governance issues in a future meeting, emphasizing a commitment to shareholder value [42] Question: What caused the decrease in equity and earnings from joint ventures? - Reduced traffic on Interstate 5 impacted sales at the TA Petro joint venture, leading to decreased earnings [48]

Group 1 - The discussion highlights the impact of Obamacare subsidies on insurance premiums, noting that individuals earning $100,000 receive $13,000 in subsidies, while those making $225,000 receive only $1,500, indicating a disparity in subsidy distribution [3] - A proposal is suggested to change the Orisa law to allow large retailers like Amazon and Costco to sell insurance, which could create a larger risk pool and potentially lower premiums for consumers [4][5] - The current tariff situation is negatively affecting farmers, particularly in the soybean sector, leading to concerns about financial stability and the potential for widespread payment deficiencies among farmers [7][9][10]