Welcome to IFES 2024! The Illinois Farm Economics Summit returns this year to help producers and landowners navigate the latest economic conditions and policy issues impacting Illinois agriculture.
2023 brought commodity price rebounds but continued high input costs and tight margins. Now in 2024, the ag economy continues evolving.
Join us at IFES 2024 as farmdoc analyzes factors shaping farm profitability this year through presentations and Q&A on crop budgets, grain markets, farm policy, land values, and more. We look forward to equipping Illinois producers to succeed in the year ahead.
2024 Presentations
Farm Income and Return Outlook
Thursday, January 18th
Nick Paulson
Department of ACE, University of Illinois
Nick Paulson examines the forecasted financial returns and net incomes for Illinois farms in 2024, against the recent downturn in commodity prices. He explores the impact of persistent high production costs in a low-price environment and suggest strategies to manage the expected tighter margins.
Macro and Farm Financial Update
Thursday, January 25th
Brad Zwilling and Gerald Mashange
Department of ACE, University of Illinois
Brad Zwilling and Gerald Mashange analyze economic factors impacting agriculture, focusing on inflation, interest rates, and farm credit conditions. Utilizing Illinois FBFM data, they assess the financial state of Illinois farms, covering topics like income, land values, and debt.
South America’s Crop Production Under the El Niño Influence
Thursday, February 1st
Joe Janson & Joana Colussi
Department of ACE, University of Illinois
Joana Colussi provides an update on South America’s crop production, especially soybeans and corn in Brazil and Argentina, and discusses export challenges considering supply, exchange rates, and global demand.
Grain Market Outlook
Thursday, February 8th
Scott Irwin & Joe Janzen
Department of ACE, University of Illinois
Joe Janzen analyzes 2024’s grain price forecasts and global market trends, discussing the implications for grain marketing strategies in light of supply and demand estimations.
Farm Policy: Current State & A Look Ahead
Thursday, February 15th
Jonathan Coppess & Nick Paulson
Department of ACE, University of Illinois
Jonathan Coppess reviews the 2018 Farm Bill’s extension and its effects on programs critical to the 2024 crop year. He also addresses the prospects for new Farm Bill legislation amidst political challenges and funding complexities.
The Renewable Diesel Boom: What Does the Future Look Like?
Thursday, February 22nd
Scott Irwin
Department of ACE, University of Illinois
Scott Irwin explores the current state and future of the U.S. renewable diesel industry, covering production trends, policy drivers, and the impact on feedstock demand.