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Latest farmdoc Daily Articles

Prospects for Swine Feed Costs in 2022

Corn prices and soybean prices were very volatile in 2021.  The average corn price in Indiana was $4.32 per bushel in January, increased to $6.32 in June, and will likely be around $5.50 at the end of the year.  Average…

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Nitrogen Fertilizer Strategies for 2022

Nitrogen fertilizer prices continue to surge, leading to difficult decisions for farmers. Herein, we discuss some strategies for dealing with higher nitrogen fertilizer prices. All these strategies carry risks. Therefore, a number of these strategies have suggestions for mitigating risks.…

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Will the Cost to Produce Corn Decrease after 2022?

Consumer costs in the U.S. have been increasing in a widespread incidence of inflation. Consistent with rising costs across many industries, the cost of producing corn will also increase in 2022. Although currently in a period of increasing costs, decreases…

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US Dairy Market and Policy Overview

The marked changes in US dairy markets and policy during the late 20th and early 21st centuries are discussed.  Correlation analysis suggests current dairy policy provides less protection against declines in net return for the smallest dairy farms.  This finding…

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Feeder Cattle Production – Are there differences based on the weight purchased?

To help answer the question regarding the differences based on the weight purchased in feeder cattle production, we will look at feeder cattle operations enrolled in Illinois Farm Business Farm Management (FBFM) over a twenty-year period (2001 to 2020).  As…

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2022 Grain Farm Income Projections Negatively Impacted by Fertilizer Cost Increases

Projected 2022 net incomes on Illinois grain farms are below 2020 and 2021 levels and approaching averages between 2013 and 2019. Rising costs and cash rents lead to these lower incomes, with increasing fertilizer costs having a significant negative impact.…

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Latest Farm Policy News Articles

U.S. Soy Exports to China Face Headwinds

Reuters writers Hallie Gu and Karl Plume reported this week that, “China’s soybean imports from the United States in 2021/22 are expected to fall sharply from last season after loading delays following Hurricane Ida.”

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Fertilizer Prices Continue to Climb, 2022 Planted Acreage Analysis Continues

DTN writer Russ Quinn reported last week that, “Nitrogen fertilizers maintained their spot as the clear leaders as average retail fertilizer prices continued to climb higher the fourth week of November 2021, according to sellers surveyed by DTN.”

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Global Food Prices Approach Record High

Bloomberg writer Grace Gitau reported last week that, “Food prices climbed closer to a record high, giving consumers and governments around the world an even bigger inflation headache.”

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Federal Reserve: Observations on the Ag Economy- November 2021

On Wednesday, the Federal Reserve Board released its November 2021 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.

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2021 Farm Sector Income Forecast, December

The USDA’s Economic Research Service (ERS) indicated on Wednesday that, “Net farm income, a broad measure of profits, is forecast to increase by $22.0 billion (23.2 percent) from 2020 to $116.8 billion in 2021. This expected increase follows a forecast…

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Fertilizer: Risk of “Spring Scramble” for Supplies

Last week, Reuters writer Rod Nickel reported that, “A global shortage of nitrogen fertilizer is driving prices to record levels, prompting North America’s farmers to delay purchases and raising the risk of a spring scramble to apply the crop nutrient…

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