Archive: 2011 Illinois Farm Economics Summit

In an era of unstable markets, the last year may be hard to top. Outside markets have endured near financial meltdowns in Europe, a downgrade in the U.S. cred-it rating, and political turmoil in the Middle East. In the midst of all this, Illinois agriculture generally experienced another year of exceptional returns. To no one’s surprise volatility has also been very high. Exhibit A is the 20% drop in corn and soybean prices in September 2011. Understanding the sources of this volatility and how to deal with these large risks is front and center in the minds of all producers. 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 this uncertainty.

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, government reports and data, estate planning, forecasting returns, crop insurance choices, and changes to farm programs. The format for the meeting will be fast-paced and allow plenty of time for questions from the audience.