Gary Schnitkey will discuss the existing farm safety net on crop farms. Discussion will center on losses from old crop, moving on to discussions for new crop. Protection offered by crop insurance and ARC/PLC commodity title programs will be outlined.
The webinar will review USDA’s March 31 Grain Stocks and Prospective Plantings reports and considers balance sheet and price implications for both old and new crop corn and soybeans. The USDA’s estimate of March 1 stocks of corn and soybeans will provide a clearer picture of total 2019-20 marketing year consumption, ending stocks, and price prospects. The report will be especially important for projecting the magnitude of domestic corn consumption for feed use. The magnitude of planting intentions will clarify prospects for the size of the 2020 corn and soybean crops with implications for the 2020-21 balance sheets and price prospects.
Jonathan Coppess will provide an update on the policy environment. Passed legislation will be detailed. Discussion of further legislative and administrative policy needs will be addressed.
Todd Hubbs will provide the latest outlook on acreage decisions for 2020. Gary Schnitkey will examine the cash flow and management decisions associated with 2020 acreage shifts.
Join Extension specialists from the University of Illinois Departments of Crop Science and Agricultural and Consumer Economics to discuss management recommendations for 2020 related to insect pests, weeds, diseases, and commodity prices.
The 2019 growing season was a challenge for Illinois farmers. This webinar will focus on the financial results for 2019 from data from the Illinois Farm Business Farm Management (FBFM) Association. Attendees will learn about 2019 farm income and returns, cost of production and how the challenges of 2019 affected the financial position of Illinois farmers.