Illinois farmers and ranchers in a number of counties may be able to shield themselves from a big tax hit after severe weather forced them to sell off their livestock. The IRS announced Friday that qualified farmers and ranchers whose drought-sale replacement period was scheduled to expire on Dec. 31, now have until the end of their 2020 tax year to replace the livestock, deferring gains taxes from the forced sales. (The Center Square)

U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Donald “DJ” LaVoy today announced that USDA is investing $251 million to upgrade rural electric systems in 13 states. The funding includes $38.2 million to finance smart grid technologies that improve system operations and monitor grid security. (USDA)  

China is still open to reaching a partial trade deal with the U.S., an official with direct knowledge of the talks said, signaling that Beijing is focused on limiting the damage to the world’s second-largest economy. (Bloomberg)

Following the 2020 U.S. Census, a priority for many county governments will be the requirement to redraw district boundary lines. Data gathered from the U.S. Census will show population changes. This means some districts will gain residents, and some will lose them. District boundaries will be redrawn to ensure each district has the same number of people so that each voter has an equal say. Participation in the U.S. Census count has long-lasting impact on all levels of government. (FarmWeekNow)

With the rising popularity of CBD products, farmers are growing hemp. Some see it as a way to ride out President Trump’s fight over trade. Others fear it may not last. (New York Times)

Governor JB Pritzker’s office received a fund from the Small Business Administration. A total of $700,000 will be used to grow Illinois exports. This will help Illinois small businesses expand their presence abroad. The state of Illinois’ State Trade and Export Promotion Program provides financial assistance to those small businesses expanding to international markets. (WICS/WRSP)