I recently attended one of the 2018 Farm Economic Summit meeting and heard a presentation given by Dr. Scott Irwin, Dept. of Agricultural & Consumer Economics at University of Illinois. In this talk, we were shown the similarities between the price trends of the past 70 years.
It must be August, because my office phone has been lighting up with calls from farmland owners wanting to know about the direction of cash rent values for lands here in east-central Illinois. This is never easy to answer, because no one can accurately forecast the future. Currently at this moment with the projected above average harvest of field corn and soybean, and the continuing trade disputes with our major foreign grain buyers, the outlook for cash grain income is not as "rosy" as it was 4 months ago.
This is the title of an article authored by agricultural economists from the University of Illinois and the Ohio State University. The Market Facilitation Program (MFP) is an effort by the USDA to provide aid to farmers because of trade disputes with our major foreign grain buyers. It has been estimated that the escalating trade issues in the May to August 2018 period have led to an 11 percent ($1.10) decline in soybean prices and a 5 percent decline ($0.20) in corn prices (farmdoc Daily, Aug. 16, 2018).
- Locate the bags on firm, well-drained ground that is smooth and level, that has plenty of room for loading and unloading equipment to maneuver.
In agriculture, we heart a the term "soil health", which has been used for about five years, now. Yet what does it mean.
At the recent Illinois Farm Economic Summit (IFES) meetings, Drs. Nick Paulson and Dale Lattz of the farmdoc team shared the results of two studies that highlighted the differences in profitability between the top third and bottom third of farms in Illinois and the typical management practices of the top earners.