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Crop Insurance Decision Tool
This program calculates premiums, evaluates insurance payments, and provides historical data useful when making crop insurance decisions for multiple crops. Estimates are for crops in midwest and southeast states. Learn…
Crop Insurance Premium Calculator
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Latest farmdoc Daily Articles
How the EU Deforestation Rule Will Affect Agriculture in Brazil
Agricultural producers with goals of continuing exports to the European Union (EU) have 6 months to comply with new rules set by the EU to curb deforestation. As the EU is Brazil’s second-largest trading partner, accounting for 16% of Brazil’s total trade, the rules will have an effect on Brazilian ag producers. The products specified by the EUDR account for 30% of the total value of Brazilian trade in 2023, with Europe purchasing more than a third of these exports.
More of the Same: Productivity Gains again Offset Cuts to Farrowings
The USDA’s June Hogs and Pigs report places the June 1 inventory of all hogs and pigs at 74.5 million head, up 0.22% from last quarter and 1.27% higher than a year ago. Likewise, market hog inventories are up 0.25% from last quarter and 1.68% higher than a year ago. This price series is forecast to average $92.61/cwt for the 3rd quarter of 2024, falling to $77.24/cwt by the 4th quarter and $77.36/cwt for the 1st quarter of 2025, before rising to $88.83/cwt for the 2nd quarter of 2025.
How California’s New Locomotive Regulation Could Impact Midwest Agriculture
California’s In-Use Locomotive Regulation establishes new requirements and standards for locomotives that operate in the state, which, if authorized, could have economic implications beyond the state’s borders and negatively impact agricultural producers that rely on rail transport, particularly those in the Midwest. This article examines those potential impacts, which include increased transportation costs and shifts in logistic strategies.
The Range of New-Crop Price Expectations Is Narrowing Early
Current options-implied price distributions for 2024 new-crop corn and soybeans reveal that the range of expected price outcomes has narrowed more quickly in 2024 than in recent years. This market trend suggests a more bearish outlook compared to previous years, with implications for farmers’ marketing decisions as the likelihood of a significant growing-season rally in new-crop futures is shrinking.
US Inflation and Labor
The rate of increase in the nominal (i.e. not adjusted for inflation) cost of US labor has been increasing since 2015. It is higher now than at any time since the late 1980s. Moreover, no long-term upward trend exists in US labor productivity. Caution is thus in order when speculating that the increasing cost of US labor is a temporary event and that artificial intelligence will increase US labor productivity and dampen its cost.
Revised 2024 Illinois Crop Budgets
In this farmdoc daily article, we present revisions to the 2024 Crop Budgets for Illinois, highlighting changes from our January release for high-productivity farmland in central Illinois while discussing the more general trends across regions. We have revised corn and soybean prices down, while cost adjustments were mixed. Farmer return projections for corn are improved across regions, while soybean return expectations are improved for southern Illinois but similar or lower for other regions.
Latest Farm Policy News Articles
John Deere Laying Off 600+ More Employees
Fox Business’ Michael Dorgan reported this past Saturday that “John Deere, the world’s largest seller of tractors and crop harvesters, has announced another wave of layoffs Friday, telling around 610…
Corn Acres Down, Soybeans Up Over Last Year
FarmWeek’s Daniel Grant reported Friday that “a challenging planting season apparently didn’t stop U.S. farmers from seeding a hefty amount of corn and soybeans, according to USDA’s much-anticipated June acreage…
USDA to Pay Dairies For Milk Loss Due to Bird Flu
Progressive Farmer’s Chris Clayton reported Thursday that “USDA will now pay dairy farmers for lost milk production if their herds have been infected with H5N1 highly pathogenic avian influenza.” “Starting…
Iowa Regulators Approve Summit Carbon Pipeline Permit
The Des Moines Register’s Kevin Baskins reported that “after a 2½-year process filled with controversy, the Iowa Utilities Board on Tuesday approved Summit Carbon Solutions’ request to build a carbon…
House Farm Bill Provision Could Block Roundup Lawsuits
The Washington Post’s Tony Romm reported late last week that “the approximately 1,000-page House version of the (Farm Bill) contains a single section — drafted with the aid of Bayer…
Denmark Implementing Novel Tax on Farm Emissions
Bloomberg’s Sanne Wass reported Monday that “Denmark will introduce a levy on farm emissions in what is set to be one of the world’s first carbon taxes on agriculture, helping…