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2010 - The Profitability of Illinois Agriculture: Managing in a Strong Ag Economy


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.

2010 Presentations

Crop and Livestock Price Prospects for 2011

Darrel Good
Department of ACE, University of Illinois

Incomes in 2010 and 2011: Evaluations and Introduction of a New FAST Spreadsheet

Gary Schnitkey and Ryan Batts
Department of ACE, University of Illinois

When to Sell Corn and Soybeans in Illinois

Scott Irwin, Professor
Department of ACE, University of Illinois

The Good, Bad, and Ugly of 2010 Tax Legislation

Gary Hoff
University of Illinois

Illinois Farmland Rent Factors and Trends

Nick Paulson, Associate Professor; Dale Lattz
Department of ACE, University of Illinois

Crop Insurance Decisions: Updates and Issues for 2011 and Beyond

Bruce J. Sherrick, Professor
Department of ACE, University of Illinois

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