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.