Stories to watch: What's next in Southeast Missouri business

As the world faces a new year in 2015, businesses face new challenges, ranging from agricultural commodity prices to the political environment. Here's a look at business stories you'll want to watch in the coming year:

Agriculture

Despite increased 2014 yields over previous years, Southeast Missouri farmers could face a bleak economic picture because of increased supply in the market.

The Chicago Board of Trade listed corn prices at about $3.77 a bushel, wheat at about $9.85 a bushel and soybeans at about $6 a bushel as of 9:15 a.m. Dec. 3. These values represent declines of about 13, 8 and 25 percent respectively from the same time last year, according to CNN Money.

Reduced oil prices and increasing amounts of acreage used for farming globally have contributed to the lower prices in the market, says Dr. Michael Aide, chair of the agriculture department at Southeast Missouri State University.

Natika Rowles and her daughter, Journee, of Cape Girardeau shop for Black Friday bargains Friday, Nov. 28, 2014 at Menards in Cape Girardeau. (Fred Lynch)

"On the crops side, yields were spectacular; prices were not," he says. "We're waiting for prices to take some of those acres back out." As of now, crop farmers face a "razor-edge margin for profitability on their farms," he adds.

In addition, lower commodity prices could cause tractor manufacturers and other producers in the farm equipment industry to have a decline in sales.

A lot of farmers "recapitalized their farm machinery in 2012," when commodity prices were high, Aide says. Now that commodity prices are lower, he says he believes farmers will "not be as assertive in buying equipment."

Capitol Hill

In January, Capitol Hill will have a new look, after the outcome of the 2014 midterm elections.

Dust billows around Frank Milde of Milde Farms Inc. as he harvests a field of corn using a Model 2388 International combine eight row corn head near Jackson.

The Republicans picked up eight United States Senate seats nationally to reclaim the upper chamber from the Democrats. After the elections, the Republicans hold 53 seats compared to the Democrats' 47.

The Republicans are favored to pick up another seat in the Dec. 6 runoff between incumbent Democratic Louisiana Senator Mary Landrieu and her Republican challenger congressman Bill Cassidy. If Cassidy wins, the Republicans would then control 54 seats to the Democrats' 46.

In addition, the GOP expanded its hold on the House of Representatives and picked up multiple governorships, including Governors-elect Bruce Rauner of Illinois and Asa Hutchinson of Arkansas.

Southeast Missouri Congressional Delegation

U.S. Rep. Jason Smith, who represents Southeast Missouri in Congress, has been assigned to a new committee for 2015.

Smith has been assigned to the Ways and Means Committee, which handles revenue and appropriations for the House of Representatives, according to a Nov. 21 release from his office. Smith's priorities on the committee will include "reforming the tax code, promoting free and fair trade, ensuring Social Security solvency, and working to fix our broken health care system," the release states.

U.S. Sen. Roy Blunt has expressed hope that next year's legislative session, with the House and the Senate under Republican leadership, could see significant progress on a spending bill and on tax reform. The senator said there seems to be a lot of interest in addressing tax reform and that the system needs to be "much more transparent, much simpler, much fairer [and] much flatter."

Blunt also expects legislators to take a closer look at health care and the Affordable Care Act in the next session. He previously said the shift to Republican control could provide "the tool to look at some of the spending elements of the president's health care plan."

Without Democratic Sen. Harry Reid holding the reigns as Senate majority leader, Blunt said he expects even Democrats will see more success next year and be able to "bring legislation to the floor [and] have a chance to define themselves as it relate[s] to their state" rather than voting specifically on items defining them "as it relate[s] to the Obama agenda."

The House has passed hundreds of bills over the past two years that never even reached the Senate floor, Blunt said, but he's hoping to see the bills that involved issues such as education and job creation brought back to life next year.

Missouri Democratic Sen. Claire McCaskill said she plans to work with her Republican colleagues on several issues in 2015, including the Keystone XL pipeline, keeping post offices open and tax and trade reforms.

One of her top priorities for the 2015 legislative will be passage of the Campus Accountability and Safety Act, which requires colleges and universities that participate in Title IV programs "to enter into with local law enforcement agencies to clearly delineate responsibilities and share information about certain serious crimes, including sexual violence, occurring against students or other individuals on campus," according to Congress' website.

Currently, the bill is co-sponsored by several Republicans, including Blunt. It has been referred to the Committee on Health, Education, Labor and Pensions.

Immigration

In November, President Barack Obama issued an executive order on immigration. Obama said in a Nov. 21 national address that undocumented immigrants can apply to stay in the United States temporarily if they meet the following conditions:

* They must have been in America for at least five years.

* They must have children who are American citizens or legal U.S. residents.

* They must register with the government, pass a criminal-background check and pay taxes.

Health care

Changes in six key areas, including clinical documentation, human resources, labor, nonlabor, physician solutions and revenue cycle are underway at SoutheastHEALTH, as the regional health care system looks for answers to financial issues caused by cuts in reimbursements and other funding. The goal of the initiative is more efficiency in each of the six areas. An annual $32 million in estimated savings could be seen for the organization if the initiative is successful. Southeast has additionally received positive scores in recent quality of care and patient satisfaction surveys. Despite some financial issues, the organization expanded in 2014 with a new extended-stay outpatient recovery unit, a renovated neonatal intensive care unit, a new medical office building in Dexter, Missouri, and plans to open an emergency department pediatric observation unit in 2015.

Saint Francis Medical Center is in the midst of an expansion project set to be completed in 2016. New construction and renovation are included in the $127 million project, which will transition the hospital to all private rooms and house a new women's and children's pavilion, some medical services, neurosciences and orthopedics. The project, when finished, will bring the Saint Francis campus in Cape Girardeau to 1.4 million square feet. Financial stability at Saint Francis, according to management interviewed in 2014, has allowed the organization to grow.

Retail

In 2014, West Park Mall in Cape Girardeau added three vendors: Don Carlos Restaurant, Luigi's Restaurant and Furniture Factory Liquidators. Christy Easley, assistant general manager of West Park Mall, said in a Dec. 3 email that the mall is happy with the interest it has received from additional outside retailers, but could not go into specifics due to corporate policy.

"We are pleased with the number of shoppers visiting West Park Mall this year and look forward to a strong holiday season and 2015," Easley said in the email.