Illinois Farm Economic Summit 2024
Monday, December 16, 2024 – Mt. Vernon, IL – DoubleTree Hotel
Tuesday, December 17, 2024 – Peoria, IL – Par-a-dice Hotel
Wednesday, December 18, 2024 – Dekalb, IL – NIU Barsema Alumni & Visitors Center
Farm Assets Conference
i-Hotel, Champaign, Illinois - Practical Advice for Conservation Management | Commercial Lenders and Agriculture | Mental Health and the Farm | Alternative Federal Crop Insurance Products | Growing Regions Weather | FBFM Farm Financials | Strategies to Manage Farm Input Costs | Farm Policy Update | What to Expect from the South American Crop Season | Crop Sciences Production Panel Discussion | ACE Grain Market Outlook Panel
Bridging the Gap: Technology Adoption in Small Holder Farms
Gregory Bernard, Assistant Professor of Plant and Soil Science, Tuskegee University
Adopting new technology for any size farming operation has its challenges. Discuss the unique challenges and opportunities smallholder farms face in adopting new technologies. This final series session will explore practical solutions and case studies of successful technology integration in small-scale farming. Attendees will learn about the barriers to adoption and strategies to overcome them.
The Outlook for U.S. Biofuels: FAME Biodiesel and Renewable Diesel
Renewable diesel experienced a truly historic boom starting in 2021 but plateaued recently. The demise of the FAME biodiesel industry has been widely predicted due to the renewable diesel boom. On top of all this, the re-election of President Trump has created tremendous policy uncertainty. The purpose of this webinar is to analyze the outlook for renewable diesel and FAME biodiesel in the next several years.
Strategies for Withstanding Low-Profitability Years
Join Dr. Gary Schnitkey and Dr. Laura Gentry for an insightful webinar focused on practical strategies for navigating low-profit years in farming. With low commodity prices and slim profit margins, it’s more critical than ever to adopt cost-effective practices that keep your farm financially healthy. You’ll gain actionable insights into reducing input costs, leveraging Precision Conservation Management data for in-field practice analysis, and strategically managing crops to maximize returns.
The Outlook for U.S. Biofuels: Ethanol and SAF
The U.S. biofuels sector has been buffeted by change in recent years. Ethanol demand is threatened by rising sales of electronic vehicles (EVs). Renewable diesel has experienced a boom and something of a bust in the last three years. The new kid on the block is sustainable aviation fuel (SAF). Feedstock demand for each of these biofuels is tied up with a seemingly ever changing set of policies. The purpose of this webinar is to help make sense of where…
Pasture, Rangeland and Forage Rainfall Index Insurance: A Risk Management Tool for Livestock and Forage Producers
Pasture, Rangeland and Forage Rainfall Index Insurance (PRF-RI) is a relatively new insurance product offered by the USDA Risk Management Agency. PRF-RI is meant to insure livestock and forage producers against lower than average rainfall which could decrease forage production. This webinar will explore PRF-RI as a potential risk management tool for livestock and forage producers. Attendees will gain insights into how PRF-RI differs from traditional yield and revenue crop insurance policies and how to evaluate policy decisions, such as…
Future of Ag Safety: How AI Will Transform Agriculture
This final webinar looks ahead at emerging technologies and innovations that will transform safety in agriculture. We will showcase cutting-edge research around autonomous equipment, wearable tech, telematics, and digital training tools. You'll gain insights into how these futuristic solutions could monitor risks, prevent incidents, and improve health outcomes for agricultural workers. We'll discuss how farmers, researchers, and policymakers can collaborate to fully realize the safety benefits of new ag technologies.
Smart Grazing: AI Integration Into Grazing Management
Isabella Condotta, Assistant Professor, Animal Sciences, UIUC
Explore livestock management with artificial intelligence. Learn about the innovative work in the use of sensors and AI models in grazing management. The fourth series session will cover how advanced technologies can be used to monitor and manage livestock grazing patterns. Attendees will gain insights into the design and deployment of these technologies and how they can improve pasture utilization, livestock health, and overall farm efficiency.
Balancing Act: Negotiating Farmland Rents for 2025 in Illinois
University of Illinois agricultural economists Dr. Gary Schnitkey and Dr. Nick Paulson invite you to a webinar focused on farmland rent agreements for the 2025 production year. They will present an overview of the current state of Illinois farmland rents, explaining the factors that led to record-high rents in recent years and the economic conditions now pointing towards necessary adjustments.
Resources for Farmers in Crisis
When injury, illness, or natural disasters strike, farmers and ranchers need help to continue operating. This webinar highlights two key resources for farmers in crisis. We will explain the Farm Rescue program which plants, harvests, hauls, and does chores for free when farmers have an emergency. We'll also cover the AgrAbility program helping agriculture workers with disabilities. You'll learn who qualifies, what services are offered, and how to request assistance from these essential non-profits serving the ag community.
Economics of Adopting Weeding Robots
Shadi Attallah, Associate Professor, Agricultural and Consumer Economics, UIUC
Shadi will examine the economic aspects of adopting weeding robots on farms. This session will cover how robot prices, corn prices, the robot weeding efficacy, and a farmer’s planning horizon affect how many robots to adopt and to what extent weeding robots can increase farm profitability and reduce weed resistance to herbicides.
Addressing Mental Stress & Health in Agriculture
Farming and ranching are filled with stressors like financial pressures, uncertain conditions, long hours, and social isolation. This webinar focuses on mental health challenges common in agriculture and ways to foster resilience and wellbeing. We will discuss signs and symptoms of conditions like anxiety, depression, and suicide risk. You'll gain strategies for managing stress, building social connections, and finding help when needed. We aim to reduce stigma around mental illness and enable farmers and ranchers to access mental health resources.
Farm Robotics: Revolutionizing Agricultural Practices
Naveen Uppalapati, Research Scientist, Center for Digital Agriculture, UIUC
Explore the transformative impact of robotics in agriculture. The second series session will highlight the latest innovations in agricultural robots, including planting, harvesting, and monitoring robots. Attendees will learn about the benefits and challenges of integrating robots into farm operations and the future of robotic technology in agriculture.
Maximizing Returns on Challenging Soils: PCM’s Low SPR Findings
We will look at environmental indicators from PCM farms and their relationship to farming practices. NEW this year: PCM has separate data available for high SPR and low SPR soils so you can better assess how conservation practices could impact your fields.
Farm Safety for Youth: Keeping the Next Generation Safe
Children and teens make up a significant portion of injuries and fatalities in agriculture. This webinar looks at why young people are uniquely vulnerable to farm hazards. We will review child labor laws and resources for legally employing youth in agriculture. You'll learn about equipment risks, and key safety practices to prevent farm incidents. We'll also cover effective ways to train young workers and ensure safe behaviors around your farm or ranch.
Enhancing Farm Connectivity: The Backbone of Modern Agriculture
Delve into the critical role of connectivity in modern farming. The first session of the I-FARM webinar series will explore the various technologies enabling seamless communication between farm equipment, sensors, and management systems. Attendees will learn about the latest advancements in IoT, satellite, and wireless communication technologies that are transforming the agricultural landscape.
Balancing Profitability and Sustainability: PCM’s Latest Insights
Here we will take a deeper dive into nitrogen management relations to profitability and the environment. We will also look at the potential and issues associated with carbon markets.
Illinois Injury Surveillance Efforts
Overview of agriculture-related injury and illness tracking programs active in Illinois. Will cover data collection methods, trends identified, and how surveillance information guides prevention initiatives for the agriculture community.
Financial and Environmental Impact of Conservation Practices
New Data from PCM with Focus on Cover Crops and Tillage. Precision Conservation Management (PCM) works directly with farmers and uses data analysis to determine how farmers can implement conservation practices without sacrificing profits. This webinar from Greg Goodwin (IL Corn Growers Association) and Gary Schnitkey (University of Illinois farmdoc team) covers 9 years of data-driven insights. We will emphasize profitable practices using cover crops. Profitability and tillage practices will be examined.
Heat Related Injury and Illness
Heat exposure can negatively affect agricultural workers, but there are ways to prevent it. Review risk factors, early symptoms, treatment, workplace controls like rest breaks and hydration, and personal protective measures when working in hot conditions.
How Will Technology Shape the Farm of the Future
Discussion of current and upcoming technology that will change the way we farm. This includes discussions on Internet of Things, Autonomous Machinery, Sensors, and Livestock handling. We will discuss how each of these technologies will contribute to a safer and more productive farm. We will also cover what are the risks of these technologies and safety concerns that need to be addressed.
Farmworker Safety and Health
Farm work presents many hazards that can lead to injury, illness, and even death. This webinar focuses on the unique risks faced by agricultural workers, including migrant and hired laborers, and ways to protect their safety and health. We will discuss common issues like pesticide exposure, musculoskeletal disorders, transportation incidents, and lack of adequate housing. You'll learn practical tips for creating a culture of safety, training workers (including seasonal, migrant, and hired laborers), and implementing best practices to protect all workers in your agricultural operation.
Managing Risks with Cover Crops: A Case Study of the Most Profitable Illinois Farms Using Cover Crops
Cover crops remain the best conservation practice in the organic rich soils of the Midwest where nutrient loss, soil health, and climate change are concerns. Many farmers have also seen agronomic benefits related to weed control, water infiltration, and protection during crop-loss weather events. Still, there are challenges for farm-level profitability and risks. Using Precision Conservation Management (PCM) data and farmer interviews, we present the current best practices to manage risks and protect profitability for Midwest farmers.
Research and Strategies for Grain Entrapment Prevention
We will explore the world of grain safety, shedding light on various types of incidents and the alarming statistics surrounding them. We will delve into the immense pressure exerted by grain, a contributing factor to the severity of injuries and tragic fatalities. Moreover, we will examine the distinction between youth and adult entrapments, analyzing potential risk factors and implications for prevention strategies. Throughout the session, we will uncover effective strategies designed to eliminate the need for entering grain bins, reducing…
The Changing Face of American Agriculture: Insights from the 2022 USDA Census of Agriculture – Illinois and the Midwest
This webinar will provide an overview of the census data and trends specific to Illinois and the Midwest. By highlighting the unique circumstances and opportunities faced by farmers in this region, we aim to foster a deeper understanding of the agricultural sector and contribute to informed policy-making processes.
The 2022 USDA Census of Agriculture provides a wealth of information about the state of American agriculture. This webinar series will explore findings from the census, and discuss trends of U.S. agriculture.
The Changing Face of American Agriculture: Insights from the 2022 USDA Census of Agriculture – National Trends
This webinar will provide an overview of the major trends in U.S. agriculture, such as the decline in the number of farms, the increase in farm size, and the growing diversity of producers. We will also discuss the implications of these trends for the future of food production and rural communities. The 2022 USDA Census of Agriculture provides a wealth of information about the state of American agriculture. This webinar series will explore findings from the census, and discuss trends…
All Day Ag Outlook
The farmdoc Team, WILLAg.org, and University of Illinois Extension are proud to present the All Day Ag Outlook. This meeting has been an annual tradition in the month of March at the Beef House in Covington, Indiana since 1991.
Crop Risk Management for 2024, Part 2
This two-part webinar series will provide an in-depth analysis of risk management decisions and strategies for the 2024 crop year. Lower commodity prices are expected for the 2024 crop and marketing years compared to the past 3 years, resulting in a much tighter margin environment and increased importance of risk management decisions.
Part 2 on March 4, 2024 will feature Bruce Sherrick who will join Nick Paulson to focus on crop insurance alternative for 2024. Projected insurance prices will be known at this time, allowing for a more accurate look at the risk protection and premium costs associated with the commonly used insurance programs as the March 15th crop insurance sales closing date approaches. Individual coverage
The Renewable Diesel Boom: What Does the Future Look Like?
Scott Irwin will explore the current state and future of the U.S. renewable diesel industry, covering production trends, policy drivers, and the impact on feedstock demand.
Preventing the Spread of Infectious Disease on Farms, Ranches and Ag Workplaces
Farmers, ranchers, and ag operators were deemed ‘essential’ during the COVID-19 pandemic. Learning how to protect employees, families, clients, and the community evolved throughout the pandemic and uncertainty was often difficult to navigate. In the webinar, we hope to bring forward some of the lessons learned during the pandemic and help share strategies for responding to infectious disease outbreaks in the future.
Crop Risk Management for 2024, Part 1
This two-part webinar series will provide an in-depth analysis of risk management decisions and strategies for the 2024 crop year. Lower commodity prices are expected for the 2024 crop and marketing years compared to the past 3 years, resulting in a much tighter margin environment and increased importance of risk management decisions.
Part 1 on February 19, 2024 will feature Gary Schnitkey who will join Nick Paulson to discuss the commodity program alternatives with a focus on corn and soybean producers in Illinois. Crop insurance alternatives for 2024 will also be discussed as projected insurance prices are being set in February. Both crop insurance and ARC/PLC enrollment decisions must be made by March 15th.
Farm Policy: Current State & A Look Ahead
Jonathan Coppess will review the 2018 Farm Bill's extension and its effects on programs critical to the 2024 crop year. He will also address the prospects for new Farm Bill legislation amidst political challenges and funding complexities.
Grain Market Outlook
Joe Janzen will analyze 2024's grain price forecasts and global market trends, discussing the implications for grain marketing strategies in light of supply and demand estimations.
Post-Application Coverage Endorsement (PACE) Crop Insurance Policy for 2024
Learn more about the Post-Application Coverage Endorsement (PACE) Crop Insurance Policy for 2024 during a webinar hosted by IL Corn.
Experts Dr. Gary Schnitkey, University of Illinois Professor in Agricultural and Consumer Economics, and Megan Dwyer, CCA and Director of Conservation and Nutrient Stewardship for IL Corn, will walk participants through this game-changing coverage endorsement and answer any questions.
South America’s Crop Production Under the El Niño Influence
Joana Colussi will provide an update on South America's crop production, especially soybeans and corn in Brazil and Argentina, and discuss export challenges considering supply, exchange rates, and global demand.
Why is Agricultural Safety Important?
Review of common occupational injuries associated with agriculture, characteristic of the farms that make them vulnerable, and costs of injuries in agricultural settings.
Macro and Farm Financial Update
Brad Zwilling and Gerald Mashange will analyze economic factors impacting agriculture, focusing on inflation, interest rates, and farm credit conditions. Utilizing Illinois FBFM data, they'll assess the financial state of Illinois farms, covering topics like income, land values, and debt.
Farm Income and Return Outlook
Nick Paulson will examine the forecasted financial returns and net incomes for Illinois farms in 2024, against the recent downturn in commodity prices. He'll explore the impact of persistent high production costs in a low-price environment and suggest strategies to manage the expected tighter margins.
Illinois Farm Economic Summit 2024
Tuesday, January 9, 2024 – Mt. Vernon, IL – DoubleTree Hotel
Wednesday, January 10, 2024 – Peoria, IL – Par-a-dice Hotel
Thursday, January 11, 2024 – Dekalb, IL – NIU Barsema Alumni & Visitors Center
!!! CLICK HERE FOR UPDATED WEATHER RELATED INFORMATION !!!
Farm Assets Conference
i-Hotel, Champaign, Illinois
An Update on Brazilian Crop & Trade Prospects | The 2023 Farm Bill | Row Crop Farming in a War Zone Roman Gorobets, Farmer - Ukraine | The RFS, Renewable Diesel, SAF & the Future of Biofuels | farmdoc S&D Tables & Price Prospects | ACE Commodity Markets Discussion | Field Crops Production Issues | The Value of Farmland
Becoming Part of the Solution: Joining PCM for Sustainable Agriculture
Are you interested in becoming part of a network that supports sustainable farming through data-driven decision making? Then this webinar, focusing on Precision Conservation Management (PCM), is for you. PCM is an innovative approach that combines financial analysis with conservation practice to help farmers make informed decisions that are both profitable and eco-friendly. This webinar will explain the intricacies of PCM, how it can enhance your farming operations, and why joining the PCM team could be a game-changer for your…
Cover Crops 101: Maximizing Benefits for Midwest Farmers
Cover crops offer multiple benefits – from improving soil health and reducing erosion to enhancing water retention and controlling pests. In this webinar, we'll introduce you to the concept of cover crops, their myriad benefits, and their role in modern, sustainable farming practices.
Navigating New Depreciation Rules To Avoid Surprises for Farm Taxpayers
This farmdoc webinar, by Bob Rhea and Brad Zwilling from Illinois Farm Business Farm Management (FBFM), will provide an overview of recent changes to federal and state depreciation rules, including the phase-out of 100% bonus depreciation and Illinois' elimination of bonus depreciation. We will explain the implications of these changes for farmers' taxes and offer planning strategies.
The Arrival of Spotted Lanternfly: Tips for Illinois Farmers
With the spotted lanternfly detected in Illinois, farmers need to be informed about monitoring and management of this invasive pest. This webinar will take an in-depth look at SLF biology, behavior, and research-based control methods to help farmers make a plan for protecting their operations.
Navigating Carbon Markets: Opportunities and Strategies for Farmers
With the growing emphasis on climate change and sustainable practices, carbon markets are becoming an attractive opportunity for farmers to not only contribute to environmental conservation but also to generate additional income. This webinar will introduce you to the concept of carbon markets, how they work, and the potential benefits they hold for your agricultural practices.
Illinois Farm Leases: What Owners and Tenants Need to Know for 2024
Tune in for this timely webinar with Nick Paulson and Paul Stoddard of the farmdoc team at the University of Illinois covering rental market trends, lease types, setting rental rates, and discussion of other considerations and best practices. Valuable insights for both rental parties!
Maximizing Returns through MRTN: A Farmer’s Guide
Join us for this informative session as we delve into the details of Maximum Return to Nitrogen (MRTN). Farmers in the Midwest face unique challenges when it comes to balancing soil health, crop yield, and cost-effectiveness. The MRTN approach provides a strategic solution, helping farmers achieve optimal results while reducing unnecessary expenses. This webinar will introduce the concept of MRTN, its benefits, and how it can revolutionize your farming practices to maximize returns.
Join the Fight Against Herbicide-Resistant Waterhemp: Participate in Our Statewide Survey
Please join Dr. Aaron Hager and Travis Wilke of the University of Illinois for a webinar discussing their upcoming statewide survey of waterhemp resistance to Group 15 herbicides. Waterhemp is a troublesome weed that has developed resistance to herbicides from multiple site-of-action groups across Illinois and other states. This survey aims to gather waterhemp seed samples from fields throughout Illinois to test sensitivity to Group 15 herbicides like S-metolachlor (Dual II Magnum and others) and acetochlor (Warrant and others). In…
Profitability and Conservation Practices: Results from Precision Conservation Management
Precision Conservation Management (PCM) has collected and analyzed production data on Illinois farms since 2015, with additional data from farms in Kentucky and Nebraska. In this webinar, Megan Miller (IL Soybean Association), Laura Gentry and, Greg Goodwin (IL Corn Growers Association), and Gary Schnitkey (University of Illinois) will share results from PCM's extensive dataset, providing valuable insights for farmers interested in implementing conservation practices.
Corn Field Search and Rescue Tips and Techniques
Join us for this informative webinar where Ralph Kuchenbrod will provide essential tips and techniques for effectively and safely conducting searches in corn fields. Searches in agricultural settings like corn fields present unique challenges and risks that searchers must be prepared for.
A farmdoc Journey in Brazil: AgTech and Innovative Farm Practices
Joana Colussi, Gary Schnitkey, Nick Paulson, and Eric Morgan recently traveled to Brazil as part of a research project on technology adoption among farmers, sponsored by the Lemann Center for Brazilian Studies. The team will share their observations and experiences from visiting the Agrishow, ag technology firms, University research groups, and farms in the Center-West.
Corn Rootworm: Bt Resistance and Management Recommendations for Illinois
Corn rootworm remains the most economically damaging insect pest of corn in Illinois, though its impact in recent years has primarily been felt in the northern third of the state. The ongoing development of resistance to Bt traits has complicated management decisions for Illinois farmers. Join University of Illinois scientists to discuss the status of rootworm populations and Bt resistance throughout Illinois, as well as management recommendations for dealing with this troublesome pest.
All Day Ag Outlook
The farmdoc Team, WILLAg.org, and University of Illinois Extension are proud to present the All Day Ag Outlook. This meeting has been an annual tradition in the month of March at the Beef House in Covington, Indiana since 1991.
This year's event is scheduled for Tuesday, March 7, 2023. The doors open at 7:30 a.m. central / 8:30 a.m. eastern and the $30 fee includes both coffee and rolls in the morning and a Beef House lunch.
Crop Risk Management for 2023, Part Two
Many of the risk management decisions impacting 2023 crop production will be made soon. At the end of February, projected prices for crop insurance will be known.
We will cover decision related choices related to corn or soybeans, marketing, leasing, commodity title alternatives, & crop insurance alternatives
IFES Online: Presenter Round Table Wrap Up
Wrap up the IFES season with the farmdoc team. Hosted by Todd Gleason. Featuring Joe Janzen, Joana Colussi, Bruce Sherrick, Jonathan Coppess, Nick Paulson & Scott Irwin.
Top Ten Business Strategies 2023
As 2023 gets underway, several items deserve increased attention for farm businesses. FBFM presents a Top 10 list of forward looking strategies to consider for a successful year. Changes in cost, income, inflation, tax laws, and estate planning are some key topics discussed. Webinar will be presented by Bob Rhea and Brad Zwilling of Illinois FBFM.
Crop Risk Management for 2023, Part One
Many of the risk management decisions impacting 2023 crop production will be made soon. At the end of February, projected prices for crop insurance will be known.
We will cover decision related choices related to corn or soybeans, marketing, leasing, commodity title alternatives, & crop insurance alternatives
IFES Online: Farmland Price and Interest Rate Outlook
Presented by Bruce Sherrick
IFES Online: Farm Bill Update
Presented by Jonathan Coppess
IFES Online: South America: Expectations for Agricultural Production, Markets, and Trade
Presented by Joana Colussi
IFES Online: Enterprise Budgets and Farm Income Outlook for 2023
Presented by Gary Schnitkey and Nick Paulson
IFES Online: Grain Market Outlook for 2023
Presented by Joe Janzen and Scott Irwin
2022 Farm Assets Conference
The 2022 Farm Assets Conference is past. However, you can view the pdf slides here. Topics included:
Updating the Carbon Market Landscape | Crop Prospects in Argentina & Brazil | The 2023 Farm Bill
Ukraine, Russia, Spring Fertilizer Prices & Crop Budgets | farmdoc S&D Tables & Price Prospects
ACE Commodity Markets Discussion | Field Crops Production Issues | The Value of Farmland
Farm Tax Planning Strategies 2022
FBFM staff offer insight for key tax topics to produce meaningful year end planning results. Strategies to manage tax liability using depreciation, prepaying expenses, retirement plans, installment contracts, and tax brackets will be discussed. Income tax liabilities are often a significant reduction to net worth; planning before year end helps guide to better results. Looking ahead to 2023 and beyond will also be important. We’ll also describe a few items that can be done after year end in case surprises…
Nitrogen fertilizer decisions for 2023
Farmers are being strongly encouraged to shift fertilizer applications away from the fall to the spring as it can lead to improved water quality impacts. However, high fertilizer prices and heightened uncertainty surrounding supply chains create incentives to move forward with at least some level of fall application as a risk management strategy. This webinar will discuss these issues and other factors facing Midwest farmers as they make their fertilizer decisions for the 2023 crop.
Lease Arrangements and Ownership from a Landowner Perspective
Farmland owners often have questions about leasing arrangements and other basics about owning land. Herein, we will provide the basics of the four different leasing arrangements: share rent, cash rent, variable cash rent, and custom farming. We will also cover questions of first-time landowner
Young Farmer Programs
Access to financial capital is one of the many challenges that young and beginning farmers face. Learn more about these challenges and programs offered by agriculture lenders and the USDA that can provide expanded access to capital for operating costs and land purchase.
Resources:
Machinery Investments and Farm Financial Trends
Machinery investments on farms have been increasing due to various factors. Brad Zwilling with Illinois Farm Business Farm Management (FBFM) will use FBFM data to look at the farm machinery investment over time as well as some other farm financial trends affecting farms.
Brazilian Agriculture in 2022-23. What to Expect for Acreage?
Historic growth in Brazilian agriculture will be documented, and projections will be made for the 2022-23 production year. Joana Colussi will bring perspectives on the potential of Brazilian agriculture in the future, especially regarding soybean and corn acreage and production.
Update on Farm Policy After the Inflation Reduction Act
The recent Inflation Reduction Act includes several agricultural provisions including conservation, energy programs, and farm debt relief. Learn more about the impact on agriculture included in this legislation and explanation of what this means as the expiration of the current farm bill approaches.
Farmland Prices in a Most Interesting Time
Farmland prices have increased at a phenomenal rate in the past year. Returns to farmland remain high, but interest rates could increase. Luke Worrell will present results of the mid-year survey of the Illinois Society of Farm Managers and Rural Appraisers. Bruce Sherrick will provide perspectives on farmland prices.
Planning on Corn Belt Farms for 2023 Production
Profits are projected for Corn Belt farms in 2023, but likely lower returns than 2021 and 2022. As the planning season for the upcoming crop year goes into full force, this outlook for 2023 farm returns will be useful in making rental, acreage, and input decisions, including focus on nitrogen decisions and the availability of PACE endorsement for post plant nitrogen applications.
Updated Supply and Demand for Corn and Soybeans
The webinar will review USDA’s June 30 Grain Stocks and Acreage reports and considers balance sheet and price implications for both old and new crop corn and soybeans. The USDA’s estimate of June 1 stocks of corn and soybeans will provide a clearer picture of total 2021-22 marketing year consumption, ending stocks, and price prospects. The magnitude of planting acreage will clarify prospects for the size of the 2022 corn and soybean crops with implications for the 2022-23 balance sheets and price prospects.
Financial and Environmental Impact of Conservation Practices
Do you want to learn more about how conservation practices like reduced- and no-till, cover crops, and nitrogen management impact corn and soybean production, profitability, and environmental impact? In this 1-hour webinar, the PCM and University of IL Agricultural Economics Team will summarize 7-years of data from the Precision Conservation Management program (PCM). PCM is a farmer service program led by IL Corn Growers Association and IL Soybean Association. PCM’s objective is to work 1-on-1 with farmers across Illinois as they make financially based conservation decisions on their farms.
Implications of USDA Grain Stocks and Prospective Plantings Reports for Corn and Soybean Prices
The March Grain Stocks and Prospective Plantings reports usually result in one of the most volatile days of the year in the grain markets. This year the reports have even more importance due to spiking prices as a consequence of the Ukraine-Russia crisis. We will discuss the important USDA estimates released in the USDA reports and consider implications for corn and soybean prices.
Final Look at Crop Insurance and Commodity Title Choices Given Conflict
Should the Russian-Ukraine conflict impact crop insurance and commodity title decisions. An update on the conflict will provide additional context for crop insurance and commodity title decisions. The deadline for those decisions is March 15. Presenters are Nick Paulson, Bruce Sherrick, and Gary Schnitkey
ARC/PLC and Final Risk Management Thoughts
By March 15, farmers have the opportunity to change their commodity title choices around Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC). Final thoughts on risk management for the 2022 season will be given.
Income, Taxes, and Management
With spring planting just around the corner, FBFM field staff will provide an income and tax update. A new educational program called AMP will be discussed that is being sponsored by Illinois Soybean Association, Illinois Farm Business Farm Management, and farmdoc.
PACE: Post Application Coverage Endorsement
The Post Application Coverage Endorsement (PACE) provides financial protection when farmers can not apply nitrogen post-planting. This is the first year for the pilot PACE is available in northern and central Illinois.
Crop Insurance and Risk Management in 2022
Reasons for optimism about farm incomes exist for 2022. However, risks remain. This webinar will discuss crop insurance, rental arrangements, and marketing for the 2022.
Policy Update for 2022
While no major changes have been made to crop insurance or commodity programs for 2022, major legislation has been moving through Congress this fall that will have impacts on agriculture. The Infrastructure Investment and Jobs Act includes funding for a range of investments that will impact agriculture and rural communities. The Build Back Better framework’s focus on climate change includes support for clean energy, conservation, and climate smart agriculture. This policy update will focus discussion on the current state of…
Farmland Values and Rental Rates for 2022
Farmland market prices have risen dramatically over the past 12-18 months, and cash rents for 2022 experienced upward pressure as well. Factors affecting farmland markets and rental rates will be discussed including prospects for future income, impacts of continuing low interest rates, monetary policy changes, inflation updates, and export driven demand. Expanding investor interest in the asset class, new technologies for managing farmland investments, and historically low capital costs have all supported farmland valuations as well, but uncertainty around each…
Supply Bottlenecks and Management Decisions
Covid control measures have led to supply chain issues that appear to be worsening for the 2022 production year. General price inflation also is occurring. As a result, all input costs will be considerably higher in 2022 as compared to 2021. We will discuss recent increases in costs and assess their impacts on the upcoming production year. Much of the focus will be on fertilizer decisions.
Farm Income Outlook for 2022
The economic situation on Illinois grain farms has brightened with higher grain prices, resulting in relatively high incomes for 2021. Prices in 2022 could continue to be above the long-run average, but costs will increase substantially. If prices remain above average, incomes in 2022 likely will be near average. However, the higher 2022 costs require much higher corn and soybean prices to reach break-even.
Grain Market Outlook for 2022
Corn and soybean prices currently sit at historically high levels. A crucial question for 2022 is how long should we expect the good times to last? In this webinar, we discuss the 2022 supply and demand outlook for corn and soybeans. Two key factors are highlighted: trade with China and acreage supply response.
Machinery Costs and Management
The 2021 version of machinery cost estimates for field operations, harvesting operations, and tractors are available on farmdoc. We will discuss the uses of these estimates and the methods used to arrive at these costs. Machinery management revolves around properly sizing machinery and optimizing use.
Factors affecting Farmland Markets
Farmland prices have risen rapidly in recent months both due to in part to rising income prospects and continuing low interest rates. Uncertainty about monetary policy and inflation, strength of the dollar, and export driven demand highlight the typical explanations, but expanding investor interest in the asset class, new technologies for managing farmland investments, and historically low capital costs have all supported farmland valuations as well. Regional differences in farmland performance and key factors influencing farmland values in the future…
Bringing Clarity to Tax Changes in Agriculture
This webinar will provide information about changes to federal and state depreciation provisions, how farm families can benefit from a variety of tax credits, and the latest developments for estate tax planning.
Grain Returns for 2021 and 2022
Production cost are rising at substantial rates. Here we will summarize grain farm financial statements for farms enrolled in Illinois Farm Business Farm Management, and present projections for the future.
Is the MRTN Nitrogen Rate for Corn High Enough?
The Maximum Return to Nitrogen (MRTN) is a recommended N rate based on recent N response trials, and is often lower than rates based on expected yields. We’ll discuss how much risk this brings, and will introduce a way for producers to check MRTN performance in the field.
Managing Weeds in Variable Weather: Insights From Data Mining
Global climate change is creating challenges for agriculture today and will continue in the future. During the past 50 years in the US Cornbelt, average air temperatures have risen and rainfall has become more variable, including an increase in the total number of extreme rainfall events. These trends are expected to continue. Weather and weeds are two stressors that can act simultaneously to affect crop performance, yet their comprehensive study in tandem is limited. The webinar will discuss the most important relationships among weed control and weather variability on corn yield loss due to weeds.
Brazil and the United States
Brazil is the United States’ major competitor in agriculture, with Brazil now producing more soybeans than the U.S. Here we will discuss Brazil’s past development, and prospects for the future.
2021/22 Market Outlook for Corn and Soybeans
After several years of trade difficult, grain markets have boomed. We will discuss the factors impacting grain markets and provide some projections for the future.
Carbon Markets 101: What Questions Farmers Should Ask?
With growing concerns about climate change, policy markers are looking for solutions to reduce greenhouse gas emissions. One solution is a market for carbon credits. Here we will describe the latest on carbon markets, with an emphasis on definitions of carbon markets and an analysis of current carbon markets.
Farmland and Price Outlook
Farmland market prices are rising and cash rents for 2022 are being set. Latest information on farmland price, including results from the annual survey of the Illinois Society of Professional Farm Managers and Rural Appraises. Expectation for 2022 will be given.
2021 farmdoc Update
New issues have emerged in Corn-belt agriculture with outlook and costs still being on the forefront. The following webinar series will aid in setting current thinking of the agricultural economy moving into 2022.
The Business Case for Conservation: A Summary of Farm Financial and Environmental Data from Precision Conservation Management
In this 1-hour webinar, the PCM and University of IL Agricultural Economics Team will summarize 6-years of data from the Precision Conservation Management program (PCM). PCM is a farmer service program led by IL Corn Growers Association and IL Soybean Association...
Demonstration and Discussion of the Cover Crop Simulation Tool
A project team from ACES, NCSA and Purdue’s Agronomy Department have been developing a first-of-its-kind cover crop simulation and decision support tool for Illinois farmers with funding by the Illinois Nutrient Research & Education Council. The tool was released in October and recently updated with additional functionality. On this webinar, the project team will discuss the project and tool, as well as provide a demonstration and explanation.
The Cover Crop Decision Support Tool may be found at https://covercrop.ncsa.illinois.edu/
FAST Tools and Financial Planning
FAST is a set of Microsoft Excel spreadsheets that can be used to evaluate management decisions on farm. We will demonstrate use of the Farm Projections Tool.
