Klay Thompson subscribes. You can too for just 11 cents a day for 11 months + receive a free Warriors Championship book. Sign me up!HOUSTON – The Warriors’ initial fears became a reality.Kevin Durant had an MRI on Thursday that confirmed a strained right calf, sidelining him for when the Warriors play the Houston Rockets in Game 6 of the Western Conference semifinals here on Friday. Should the Rockets force a Game 7 for Sunday at Oracle Arena, Durant will miss that game, too.And yet even if …
Share Facebook Twitter Google + LinkedIn Pinterest The 2015 growing season will be memorable for Ohio’s corn growers, with many of those memories being not so positive. That, however, is not the case for the state winners in the National Corn Growers Association 2015 National Corn Yield Contest.The Ohio winner in the No-Till/Strip-Till Non-Irrigated Category was James Jacobs of Bloomingburg with 276.9825 bushels with Seed Consultants SCS 10HR43.“It is not an easy contest and Mother Nature plays a big role. We just had the right weather this year and things turned out very well for us,” Jacobs said. “I know a lot of folks suffered from too much rain in Ohio but we were really blessed this year.”Like most of the state, there was plenty of moisture in the spring on the Fayette County farm.“It was wet early, then we got a dry spell and we were able to start planting corn on May 2. The contest field was no-till and we waited a little longer to plant it — I believe it was May 5. We had a good dry stretch of weather right there,” Jacobs said. “We had one field where we were putting tile in and cleaning a fence row and we planted that corn later. I know it suffered more when we got some rain after planting and that corn wasn’t big enough to handle all the moisture. All of the early-planted corn did really well, though. We had a lot of rain throughout the growing season and we had a good, cool summer and I think that helped with the yields.”The bountiful moisture did boost yields but it also led to nitrogen loss concerns.“The rain was a big issue and nitrogen loss seemed to be a big factor in the growing season this year. We used different management practices to help control that,” he said. “Typically we put down about 20 gallons of 28% with the chemicals in the spring and then we come back and sidedress with around 140 pounds of anhydrous, but in the contest field we put down 160 pounds last year. Then we did put a little more nitrogen on that field at tassel to finish it out. We flew it on. I did not do that in every field but that is something we might take a look at in the future if we get another year where get a lot of rain and nitrogen loss. That is something we may look at to help finish that corn out.”The moisture also created some issues with diseases and fungicides were applied as needed on the farm, including on the winning contest field.The SCS 10HR43 is a corn borer and Roundup resistant hybrid with the ability to tolerate stress, a trait that paid off in 2015.“I picked that hybrid because in the last two years it was up near the top in the Seed Consultants trials. I liked how it handled the stress. It has been really consistent. It did really well for us. I think the winning field averaged 221 bushels over the whole field and we picked the right sweet spot in the field to get that 276,” he said. “Seed Consultants gives you $1,000 if you win first place in your state contest to go toward your seed purchase. You get a trip to Commodity Classic too and this year it is in New Orleans and my wife is excited about that. Down there you get to pick the brains of good corn growers and hear about their production practices to gain some insights. I am a firm believer that you can’t expect to do the same thing year after year and get different results, so it is always nice to go down there and learn about different things to incorporate into your program to get higher yields in the future.”Here are the other top finishers in Ohio by category.In the Non-Irrigated Category, the top Ohio yield was from Adam Smith of North Fairfield with 289.5824 bushels with DEKALB DKC64-89RIB. Ohio’s second highest yield in the category was from Nathan Smith from Marion with 289.1934 bushels with Channel 213-59STXRIB and the third place yield was from Fred Penick from Hebron with 277.9642 with Channel 209-51VT2PRIB.In the No-Till/Strip-Till Non-Irrigated Category, the Ohio winners were Jacobs of Bloomingburg with 276.9825 bushels with Seed Consultants SCS 10HR43; Chris Waymire of Yellow Springs with 268.0480 bushels with DEKALB DKC63-33RIB; and Dale Stewart of Springfield with 256.2333 bushels with DEKALB DKC62-77RIB.In the No-Till/Strip-Till Irrigated Category, Ohio winners were Mike Funderburgh of North Lewisburg with 266.4969 bushels with Pioneer P1197AMTM; Jim Motycka of Napoleon with 257.8354 bushels with Pioneer P0825AMXTTM; and Matt Milless of Amanda with 254.8025 bushels with Seed Consultants 1135.In the Irrigated Category, Ohio winners were Matthew Funderburgh of North Lewisburg with 266.2018 bushels with Pioneer P119AMXTTM; Byron Gearhart from Chillicothe had 253.3042 bushels with AgriGold A6559 VTPRIB; and Dan Watchman of Napoleon had 249.4837 bushels with Seed Consultants 1125AMX.
Passive House Institute U.S. says that it is now accepting both papers and presenters for its annual North American conference, scheduled this year from September 10-14 at the Marriott San Francisco Waterfront.PHIUS was still firming up its speakers and other conference details, and said it would have registration links posted at its website later in the week.In the meantime, the organization announced the basic framework for the conference, including pre-conference technical workshops on September 10-11 covering topics such as WUFI-Passive, mechanical systems, and multi-family buildings.The main conference takes place September 12 and 13 and will include four two-hour tracks each day. On September 14, there will be a bus tour of projects in the area.An unrelated conference, the North American Passive House Conference, will take place this year in Portland, Maine, also in September. The Maine conference is sponsored by the North American Passive House Network.
What is it?Farm loan waivers are not new to the Indian economy. In 2008-09, the UPA-I government announced a farm loan waiver of ₹60,000 crore (that was the initial estimate, which went up to over ₹70,000 crore later). It hit the exchequer, and not the banks, but it distorted the credit culture since it discouraged farmers from paying up their dues. In addition, when one State offered a waiver, it raised expectations in other States too. Since the BJP took office in May 2014, starting with Andhra Pradesh, several States have joined the farm loan waiver bandwagon, with Uttar Pradesh and Maharashtra being the most recent ones, despite Union Finance Minister Arun Jaitley’s stand that the States would have to foot the bill.Mr. Jaitley had shown resolve to maintain fiscal discipline during his budget speech earlier this year, which was lauded by industry and investors. Hence, he told the States that the Centre would not pay for the waiver. On the other hand, the Reserve Bank of India (RBI) warned about the deteriorating fiscal position of the States. “We need to create consensus so that such loan waiver promises are eschewed. Otherwise, sub-sovereign fiscal challenges in this context could eventually affect the national balance sheet,” RBI Governor Urjit Patel said. He pointed out that if on account of loan waivers, the overall government borrowing went up, yields on government bonds would also be impacted. In a cascading effect, this would crowd out private borrowers as higher government borrowing could lead to an increase in the cost of borrowing for others.How did it come about?Two successive years of below normal rainfall, in FY14 and FY15, are being seen as the main reason for the loan waiver demand. But the recent farmers’ unrest in Madhya Pradesh took place despite a good monsoon that resulted in a bumper crop. However, the prices of farm produce came under pressure because of demonetisation as there were ‘fire sales’ of vegetables — a fact which was acknowledged by the RBI. The sharp decline in food prices in the consumer price index-based inflation was evident. Retail inflation dropped to 2.18% in May as the decline in the prices of food and beverages was sharper in May than April (-0.22% in May against 1.21% in April).Why does it matter?The loan waiver will have a significant impact on the States’ finances. According to a report by the State Bank of India, the impact on Punjab will be the maximum, with the State’s fiscal deficit jumping by an additional 4.8% of the GSDP. The report says that the States will make provisions for farm loan waiver in their budgets in multiple years. In its recent report on the States’ finances, the RBI also pointed to the worsening position of their financial health. It noted that the consolidated finance of the States had deteriorated in recent years, with the gross fiscal deficit to GDP ratio averaging 2.5% in the last five years (from 2011-12 to 2015-16), compared with 2.1% during the previous five-year period.The RBI observed that the State governments faced severe resource constraints as their non-debt receipts were often insufficient for fulfilling their development obligations. There is one positive aspect of the current loan waiver schemes, as highlighted by some economists: the schemes announced in several States have emphasised that loans should be waived only up to a specified threshold limit (mostly ₹1 lakh), and any amount over that will have to be paid.What next?More such schemes will possibly follow as the States going to the polls have started upping the ante for a farm loan waiver. There are protests in several parts of Gujarat demanding a waiver. The State will go to the polls later this year.Bankers have been concerned about this. As SBI Chairman Arundhati Bhattacharya put it: “In case of a farm loan waiver, there is always a fall in credit discipline because the people who get the waiver have expectations of future waivers. Future loans given often remain unpaid.”
zoom First Ship Lease Trust has agreed to dispose of its chemical tanker FSL Tokyo in an effort to reduce outstanding debt facility.The 2006 Japanese-built ship, was sold for a cash consideration of USD 13.8 million. The 20,938 dwt FSL Tokyo has been deployed in the spot market, according to FSL Trust Management, the trusteemanager of FSL Trust.The company said that the net proceeds from the sale will be applied in full to the outstanding loan facility in the first quarter of 2018. FSL Trust will record a related impairment charge of around USD 9 million in the fourth quarter of 2017.“The sale of the vessel was undertaken to further reduce the debt due under the Syndicated Loan facility,” Roger Woods, Chief Executive Officer of FSLTM, said.The amount outstanding under the facility following the application of the sale proceeds of FSL Tokyo will be USD 138 million, down from the debt outstanding in June 2013 of USD 425 million when there were significant changes in the Trust’s Board and Management.