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…
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.
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.
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 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.
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.
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
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.
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.
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
Presented by Joana Colussi
Presented by Gary Schnitkey and Nick Paulson
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
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…
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.
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
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.
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.
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.
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 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.
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.
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.
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.
Title: 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.
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
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.
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.
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.
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.
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 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…
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.
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.
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.
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.
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…
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.
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.
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.
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 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.
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.
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 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.
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.
Title: 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...
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 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.
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.
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.
Corn and soybean decisions have changed greatly Since August. This webinar will discuss implications of those decisions for planting decisions in 2021.
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.
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.
Title: 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 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,…
Title: 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…
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…
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
Title: Tillage, Nitrogen Use, and Cover Crop Impacts of Corn and Soybean Returns in Central Illinois
The profitability of different tillage systems and nitrogen application systems will be presented, along with the profitability impacts of cover crops. Data are for the years from 2015 to 2019 and come from Precision Conservation Management, a project having many partners with Illinois Corn as the lead partner. Over all, certain conservation practices have positive impacts on profitability, as will be discussed during this webinar.
The 2019 growing season was a challenge for Illinois farmers. This webinar will focus on the financial results for 2019 from data from the Illinois Farm Business Farm Management (FBFM) Association. Attendees will learn about 2019 farm income and returns, cost of production and how the challenges of 2019 affected the financial position of Illinois farmers.
Gary Schnitkey, Nick Paulson and Jonathan Coppess from the farmdoc team will provide updates on the most recent issues in the wake of the coronavirus pandemic, including the state-of-play on various policies for assistance in response. The discussion will include potential impacts on commodities markets from the fallout around biofuels production, livestock feed demand and exports, as well as a review of current legislative and USDA policies and the potential impacts.
Bradley Wolter, CEO of The Maschhoffs, will share his perspectives on the impacts that Coronavirus has had on the pork industry, with discussion on human resource, pig health, and supplier issues. Gary Schnitkey will provide an economic update as well as background on recent trends in the pork industry.
The ethanol production industry has been severely impacted by demand destruction caused by coronavirus restrictions. The purpose of this webinar is to examine the financial damage done to the industry and the outlook for recovery through the end of 2020. Scott Irwin and Todd Hubbs of the farmdoc team will be joined by Eric Moseby, General Manager of Lincolnland Agri-Energy in Palestine, Illinois to discuss these issues.
Update on farm policy will be provided with discussion on the Coronavirus Food Assistance Program. Income outlook given different potential payment schemes will be detailed. Difficulties in making 2021 decisions given the current policy environment will be described.
Many businesses, including farmers and other agricultural enterprises, applied for and received Payroll Protection Program (PPP) loans. To qualify for loan forgiveness, loan funds can only be used to pay for certain expenses. Join Bob Rhea and Dale Lattz from FBFM and Nick Paulson from the farmdoc team to discuss these issues.
The COVID-19 pandemic has sent shockwaves through the agricultural production system and raised unique legal issues for input suppliers, crop and livestock producers, and processors. The Director of the National Agricultural Law Center, Harrison Pittman, along with University of Illinois Agricultural Lawyers A. Bryan Endres and Jonathan Coppess, will explore the pandemic’s impact on the legal enforceability of agricultural contracts, protections afforded under commodity specific statutes such as the Perishable Agricultural Commodities Act and the Packers and Stockyards Act, regulatory compliance issues with potential large-scale euthanasia of livestock, state-level meat inspection laws, application of the Defense Production Act in the agricultural context, and a new generation of farm foreclosure moratorium laws. There will also be an update on additional relief measures, payment limits and current policy discussions at the federal level.
Over the past two years, policy actions have had major impacts on trade in agricultural products between the US and China. In addition, shifts in the consumption patterns are changing the demand for agricultural products by Chinese consumers. Nick Paulson will be joined by Wendong Zhang, assistant professor in Agricultural Economics at Iowa State University, for a discussion of these issues and how they impact the outlook for U.S. agricultural exports.
The impact of the coronavirus pandemic on livestock markets continues to unfold and place substantial stress on livestock producers. Lee Schulz of Iowa State University joins Todd Hubbs to discuss the impacts and outlook for markets.
U.S. agricultural trade policy, China's push to reconfigure international supply chain lines, the entrance of Brazil and Ukraine into the commodity export markets, and the coronavirus pandemic have all disrupted the once relatively stable U.S. corn and soybean export markets. University of Illinois Agricultural Economist Nick Paulson and IFPRI's Joe Glauber will explore the policies and fundamentals behind the changes and probe the future impact.
Less than a month ago, Congress enacted the CARES Act to provide $2 trillion in relief for the wide range of challenges from the Coronavirus pandemic. Questions remain about implementation, the outlook for additional relief and a general perspective on the political and policy discussions at the federal level for the food and agricultural sector.
The retail food sector has been put under substantial stress by the coronavirus pandemic. What started out with runs on toilet paper quickly escalated to empty meat and bread aisles at grocery stores. Scott Irwin will join Jayson Lusk of Purdue University to discuss the how the pandemic has impacted food prices and logistical issues in this crucial sector of the American economy.
Even with good corn and soybean yields following record-late planting in 2019, there is increased urgency in getting the 2020 crops planted on time. Emerson Nafziger will talk about the start of the 2020 planting season, current conditions, and planting date, depth, and seeding rate decisions in the coming weeks.
The CARES Act includes a number of programs targeted at supporting small businesses. Rural businesses in Illinois have choices about participating in the Paycheck Protection Program (PPP). Join Bob Rhea and Dale Lattz from FBFM, and Nick Paulson from the farmdoc team, as they identify the key components of this new legislation and the impact on business owners.
Scott Irwin will be joined by Jeff Bunting of FS Growmark to discuss crop input supply and logistics issues that may arise due to the coronavirus pandemic. Scott will provide a brief overview of recent grain market developments and Jeff will then provide an overview of crop input supply and logistic issues.
COVID-19 is affecting America’s farmers, ranchers, and landowners in numerous and varied ways. Join Jackson Takach, chief economist with Farmer Mac, and Bruce Sherrick, Professor and Director of the TIAA Center for Farmland Research and a farmdoc team member, as they explore the drivers and linkages between the global pandemic, the related economic stoppage, farm assets, and agricultural finance.
Join Extension specialists from the University of Illinois Departments of Crop Science and Agricultural and Consumer Economics to discuss management recommendations for 2020 related to insect pests, weeds, diseases, and commodity prices.
Todd Hubbs will provide the latest outlook on acreage decisions for 2020. Gary Schnitkey will examine the cash flow and management decisions associated with 2020 acreage shifts.
Rob Johansson, chief economist of the U.S. Department of Agriculture, will provide perspectives on COVID-19s on the agricultural sector and work continuing within the USDA. Jonathan Coppess, farmdoc team member, will provide an updates that may be occurring at that point, with an emphasis on policy updates.
The webinar will review USDA’s March 31 Grain Stocks and Prospective Plantings reports and considers balance sheet and price implications for both old and new crop corn and soybeans. The USDA’s estimate of March 1 stocks of corn and soybeans will provide a clearer picture of total 2019-20 marketing year consumption, ending stocks, and price prospects. The report will be especially important for projecting the magnitude of domestic corn consumption for feed use. The magnitude of planting intentions will clarify prospects for the size of the 2020 corn and soybean crops with implications for the 2020-21 balance sheets and price prospects.
Gary Schnitkey will discuss the existing farm safety net on crop farms. Discussion will center on losses from old crop, moving on to discussions for new crop. Protection offered by crop insurance and ARC/PLC commodity title programs will be outlined.
Nick Paulson, a farmdoc team member, will lead a discussion of COVID-19 concerns related to agricultural finance. Nathan Kauffman (Vice President and Omaha Branch Executive) and Cortney Cowley (Economist, Regional Affairs Department), from the Federal Reserve Bank of Kansas City, will be guests and provide important perspectives. Any recent important updates related to COVID-19 and agriculture will be shared.
Jim Lowe, an expert in infectious diseases in the College of Veterinary Medicine at the University of Illinois, will share his perspectives on African Swine Fever and Coronavirus. Any recent important updated related to COVID-19 and agriculture will be shared.
Join farmdoc experts Jonathan Coppess, Todd Hubbs, Scott Irwin, Nick Paulson and, Gary Schnitkey, as they discuss the coronavirus impact on ag markets, planting decisions, and agricultural policy.
All information is available for the 2020 crop insurance decisions. We will give a run down of risk and returns for the 2020 year, looking at changes from last year. Use of Supplemental Coverage Option (SCO) will be discussed.
This webinar is sponsored by Compeer Financial which may be found at https://www.compeer.com/
Questions continue concerning the ARC/PLC decision that must be made for the 2019 and 2020 years by March 16, 2020. This webinar will provide examples of decision-making for specific farm situations. Latest information will be used in this webinar. Decisions must be made by March 15th. Sign up for your appointment with your Farm Service Agency (FSA) office.
NASS will release 2019 county yields for corn and soybeans on Feb 20th. These county yields, along with more up-to-date price information, will be used to refine ARC/PLC decisions for 2019 and 2020. Those counties that likely will make county yields will be identified. Farmers in some counties may wish to revise ARC/PLC choices baed on this information.
We will describe making the 2018 Farm BIll commodity title choices faced by South Dakota farmers. Those choices will involve enrolling an entire Farm Service AGency (FSA) farm in Agricultural Risk Coverage at the individual level (ARC-IC), or choose between ARC at the county level (ARC-CO) and Price Loss Coverage (PLC) for each program crop. Situations in which ARC individual coverage (ARC-IC) works will be described. Then choices between Agricultural RIsk Coverage at the COunty Level (ARC-CO) and PLC will…