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Archive: 2016 Illinois Farm Economics Summit

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2016 - The Profitability of Illinois Agriculture: The Margin Squeeze Continues

The big story in Illinois agriculture in 2016 continued to be the “margin squeeze” faced by crop producers. This squeeze was brought on by low corn, soybean, and wheat prices and costs of production that are only slowly adjusting to the new price realities. At present prices, further cost of production reductions will be required. Producers and landowners face a series of difficult management challenges as they grapple with how to adjust to the changed environment. Should cash rents be lowered? And if so, by how much? How much relief will be seen through lower fertilizer and seed prices? What are the prospects for grain prices to recover from current depressed levels? 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 these difficult times.

Speakers from the farmdoc team at the University of Illinois will explore the farm profitability outlook and management challenges from several perspectives, including the 2017 outlook for prices, farm financial management in tough times, needed changes in farmland leases, updates on the farm program safety net, agricultural credit conditions, and long-term weather and yield trends. The format for the meeting will be fast-paced and allow plenty of time for questions from the audience.

2016 Presentations

Agricultural Commodity Price Outlook for 2017

Darrel Good, Professor Emeritus
Department of ACE, University of Illinois

Agricultural Commodity Price Outlook for 2017

Gary Schnitkey, Professor
Department of ACE, University of Illinois

Farmland Leases: A Reset Needed

Dale Lattz
Illinois FBFM and Department of ACE, University of Illinois

Farm Bill Program Update and Outlook

Nick Paulson, Associate Professor; Jonathan Coppess, Assistant Professor
Department of ACE, University of Illinois

Agricultural Credit Market Update

Bruce Sherrick, Professor; Todd Kuethe, Assistant Professor
Department of ACE, University of Illinois

Long-Term Weather and Yield Trends for Corn and Soybeans

Scott Irwin, Professor
Department of ACE, University of Illinois

IFES 2016 Sponsors

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