Archive: 2010 Illinois Farm Economics Summit

The last year continued a string of roller coaster-type events. This time it was the weather’s turn, with the wettest and latest harvest in memory (combining in some places in May!), a deluge of spring and summer rainfall in some places, and hot everywhere. In spite of all this the economic outlook for Illinois agriculture is generally positive. High crop and livestock prices have bolstered incomes and balance sheets. But, even in good times like this there are many issues related to managing farm businesses most effectively and how to deal with the still large risks that are faced. The University of Illinois Extension and members of the farmdoc team from the Department of Agricultural and Consumer Economics will be holding a series of five Farm Economics Summit meetings to help producers navigate through this season of prosperity.

Speakers from the farmdoc team at the University of Illinois will explore the farm profitability outlook and management challenges from several perspectives, including the direction of prices, outlook for farm returns, when to sell corn and soybeans, new tax legislation, land rents, and crop insurance choices. The format for the meeting will be fast-paced and allow plenty of time for questions from the audience.