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.
Final Look at Commodity Title and Crop Insurance Decisions
All the information is needed to calculator crop insurance premiums. Deadlines for corp insurance and commodity title choices are nearing. This webinar will update any information that needs to be covered before decisions are final.
Last Financial Issues Before Planting
A recap of the financial position of Illinois farms will be provided. We will go over budgeting and pro forma cash flow planning for 2021.
Acreage Decisions in 2021
Corn and soybean decisions have changed greatly Since August. This webinar will discuss implications of those decisions for planting decisions in 2021.
ECO and Crop Insurance
Most farmers in the Midwest insure corn and soybeans with Revenue Protection (RP). This year, a new county-level product can be added on top of RP and other products called Enhanced Coverage Option (ECO). This webinar will discuss the crop insurance decisions, in general, and ECO in particular.
Commodity Title Choices in 2021
Farmers and land owners will again have the opportunity to change commodity title choices between Agricultural Risk Coverage and Price Loss Coverage for the 2021 crop year. The deadline for the decision in March 15, 2021. This webinar will discuss these alternatives.
Paycheck Protection Program and Employee Retention Credit Under December’s Consolidated Appropriations Act
Legislation passed in December called the Consolidations Appropriations Act has implications for farms. We will cover the Paycheck Protection Program (PPP), including implications for the initial draw, second draw, and recalculated draw. Issues associated with the Employee Retention Credit (ERC) also will be covered.
Farmland Markets and Macro Markets
Farmland is receiving significantly increased attention by owners and investors seeking to make sense out of the scrambled economic signals of the recent past. Historically, the conventional narrative around farmland as a financial asset is that the returns are positively correlated with inflation, have low or negative correlation with equities, and have positive portfolio benefits in well-diversified holdings due to the relative lack of response to short-term broad market movements. The Fed has signaled an intent to target higher inflation,…
Straining the alphabet soup: Post-election farm policy outlook after three years of ad hoc farm payments
We consider both the short- and medium-run outlook for US farm policy following the 2020 election. We provide an updated review of three years and four rounds of ad hoc farm payments, including an analysis of payment distribution and program design for the Market Facilitation Program (MFP) and Coronavirus Food Assistance Programs (CFAP). We discuss what the perceived need for ad hoc assistance says about standing farm programs such as Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) and…
Farm Program and Crop Insurance Decisions for 2021
The election and enrollment period for the ARC and PLC programs for the 2021 crop year is now open, and decisions must be made by March 15th. A new crop insurance program, the Enhanced Coverage Option (ECO), will also be available for crops produced throughout the Midwest. ECO is a county-based program, similar to the Supplemental Coverage Option (SCO) that can be used to supplement underlying multi-peril coverage for eligible crops. This session will address these decisions, and provide some…
2020 and 2021 Grain Farm Income Outlook with Risk and Rental Implications
Grain farm incomes in 2020 were supported by above-trend yields, higher prices than expected, and several forms of Federal payments. These 2020 incomes serve as a backdrop for 2021 income projections. Sufficient 2021 incomes will be dependent on a combination of above-trend yields and continued Federal payments. Risk management will be critical, and several new tools are available this year. Levels of cash rental likely will depend on continued Federal payments.
2021 Market Outlook for Corn and Soybeans
In a year stricken by the coronavirus pandemic and an extremely severe economic contraction, corn and soybean prices have risen to levels that seemed impossible just a couple of months ago. A critical question for 2021 is the likelihood of sustaining corn prices near $4 and soybeans near $11. In this webinar, we discuss the 2021 supply and demand outlook for corn and soybeans and the longer-term outlook for trade with China.
Conservation, Incomes and Farmland Leasing
Leasing season is again upon us. This webinar will first provide an outlook for setting 2021 leases. Then, attention will turn to conservation and leasing. Many landowners and farmers want to engage in more conservation practices but are concerned about the impacts these conservation practices may have on relationships between landowners and farmers. We will cover issues related to owner-farmer relationships for conservation, nutrient management, and cover crops. Conservation addendums to farmland leases available on farmdoc will be shown.
Outlook for Farmland Prices and Rents: Results of an Illinois Society Survey
Outlook for farmland prices and rents will be presented from results of an annual mid-year survey conducted jointly by the Illinois Society of Professional Farm Managers and Rural Appraisers and the University of Illinois. Topics include farm price outlook for the remainder of 2020, rental outlook for 2021, and outlook over the next five-years. Information will be useful as farmland markets enter the rent-setting season.
Where are we at Financially on Illinois Farms
Overall, the financial positions of Illinois farms are still strong, but erosion has occurred on many farms. Up to this point, most of that erosion has come in the form of reductions in working capital. Debt-to-asset positions have eroded only slightly. Non-declining asset values contribute to the relatively small declines in debt-to-asset positions. Some farms are more at risk, including those that have more cash rent farmland. Also, younger farmers tend to have worse situations than older operators.
Outlook for Farmland Prices and Evaluation of Determinants of Farmland
Farmland markets outlook will be given in both the short and long-run. The impacts of changes in farmland returns and interest rates will be evaluated. While returns to farmland have been stable, interest rates also have been low, leading to relatively high capitalized values.
Budgeting and Farm Income for 2020 and 2021
We will provide returns projections for corn, soybeans, and wheat production in 2021. Farm income for Illinois grain farms will be projected for both 2020 and 2021. Possible farm incomes will be presented that include payments from the farm safety net.
What’s the Future? Attempting an Outlook of the Policy Landscape
As summer approaches its end, the coronavirus pandemic has gotten worse, the economic outlook has dimmed and Congress is attempting to negotiate a potential next round of relief for the coronavirus pandemic while the 2020 election draws nearer. This webinar will review the policies put in place to date and attempt an outlook of the policy landscape ahead. The webinar will look at how MFP, CFAP and other ad hoc relief can serve as a leading indicator of policy directional changes, as well as review potential concepts and historical analogues.
Updated Supply and Demand for Corn and Soybeans
The webinar will review the USDA’s U.S. corn and soybean yield and production forecasts released on August 12. The production forecasts will be combined with projections of marketing year consumption in order to project the magnitude of year-ending stocks. The implications for marketing year average prices as well as the likely pattern of prices during the 2020-21 marketing year will be discussed.
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 2019-20 marketing year consumption, ending stocks, and price prospects. The magnitude of planting acreage will clarify prospects for the size of the 2020 corn and soybean crops with implications for the 2020-21 balance sheets and price prospects.
