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With this program, the user can (1) estimate the costs of planting corn and soybeans by planting date, (2) estimate the net returns from replanting, (3) prevented planting payments, and (4) compare crop rotations.
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The Market Facilitation Program: A New Direction in Public Agricultural Policy?
On November 15, USDA announced issuance of the second tranche of Market Facilitation Program (MFP) payments for 2019. As of November 18, 2019, USDA reports that MFP 2019 has paid $6.898 billion of the announced $14.5 billion; MFP 2018 is…
Has Ethanol Increased Total US Corn Use?
Corn processed into US ethanol has grown dramatically, and accounted for 37% of total US corn use during the 2018 market year (USDA (US Department of Agriculture), Office of the Chief Economist, November 2019). A related, but broader issue is,…
Projected Net Incomes on Illinois Grain Farms in 2019 and 2020
Due to lower corn and soybean yields, 2019 net farm incomes on Illinois grain farms are projected to decline more than $80,000 per farm from 2018 levels. The low yields are partially offset by higher corn and soybean prices and…
Soybean Crush Prospects
The release of the NOPA soybean crush estimates last Friday indicated crush levels picked up substantially in October. Driven by a moderate export pace for soybeans and a decent crush margin, soybean crush appears back on track for the 2019-20…
When Creating 2020 Budgets, Keep in Mind Family Living Costs
In 2018, the total noncapital living expenses of 1,306 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) average was $77,999–or $6,500 a month for each family. This average was 2.3 percent lower than in 2017. Another…
The Conservation Question, Part 4: An Overview of Acres
Throughout its history, conservation policy can be understood, in part, as representing attempts at achieving balance. Policies have involved balancing the demands for producing crops with the limits of, and impacts on, natural resources; they have also tried to achieve…
Latest Farm Policy News Articles
Propane Supply Pressures Amid Late Harvest, Add to Unsettling Farm Economic Indicators
DTN writer Russ Quinn reported on Friday that, “As if the 2019 growing season didn’t have enough weather challenges, corn harvest has come to a complete halt for some farmers as propane for crop drying has been hard to secure.…
As Phase One Talks Continue, China Purchases Some U.S. Farm Products, While USDA Announced a Second Tranche of MFP Payments
Last week, Financial Times writer James Politi reported that, “President Donald Trump threatened a new escalation of the trade war with China, saying US tariffs on Chinese goods would be ‘raised very substantially’ if no truce was reached with officials…
Federal Reserve Ag Credit Surveys- 2019 Third Quarter Farm Economy Conditions
Last week, the Federal Reserve Banks of Chicago, St. Louis, Kansas City and Minneapolis released updates regarding farm income, farmland values and agricultural credit conditions from the third quarter of 2019. And earlier this year, the Federal Reserve Bank of Dallas released…
Wet Spring and Fall Complicating 2019 Harvest, and Could Impact 2020 Planting- Compounding Difficulties
Grace Zaplatynsky reported on Friday at the Globe Gazette (Mason City, Iowa) Online that, “This year has not been the greatest year for farmers with the soaked spring and now the cold and early snow in fall.”
Roll Back of Tariffs Stymie Phase One Trade Talks with China
Josh Zumbrun, William Mauldin and Chao Deng reported on the front page of Friday’s Wall Street Journal that, “Beijing’s announcement Thursday that the U.S. and China have mutually agreed to roll back tariffs as part of a ‘phase one’ trade accord…
China “Scouring the World for Meat” as African Swine Fever Impacts Protein Markets
Bloomberg News reported last week that, “Tang Jie, who works on a pig farm, says he used to get pork from the wet market near his home every day. But he hasn’t bought any in two months. And his favorite…
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