USDA Farm Income Forecast, December Update
Curious about the outlook for farm incomes in the coming year? Join host Brady Brewer in this podcast episode with Purdue ag economist Michael Langemeier as they discuss farm income projections outlined in USDA’s December Farm Income Forecast. Michael shares producer perspectives from the Ag Economy Barometer and takes a closer look on an Indiana case farm.
Read MoreCorn and Soybean Basis Levels Remain Weaker than Normal but are Strengthening
Corn and soybean basis remains weaker than normal in many parts of the United States. For example, in Central Indiana corn basis the first week of December was $0.45/bu. under March ‘24 corn futures.
Read MoreFarmer Sentiment Improves, Producers Credit Stronger Financial Conditions
Agricultural producers’ sentiment increased for the second consecutive month, as the Purdue University/CME Group Ag Economy Barometer index rose 5 points to a reading of 115, a 12% increase compared to the previous year. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the October 2023 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read MoreProspects for Swine Feed Costs in 2024
Indiana corn prices have dropped sharply since September. The most recent WASDE report indicates that corn prices could remain low for the foreseeable future. Obviously, lower expected corn prices will translate into lower expected feed costs during the first part of 2024. What trends in feed costs will we see for 2024? And what’s the impact of corn and soybean meal prices on feed costs for farrow-to-finish and swine finishing operations?
Read More2024 Crop Cost and Return Guide
The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. These are the March 2024 crop budget estimations for 2024.
Read MoreTrend in Breakeven Prices for Cattle Finishing
Fed cattle prices have strengthened the last few months. At the same time, due to lower corn prices, feeding cost of gain has also declined. Partially in response to these two phenomena, feeder prices and breakeven prices have increased substantially.
Read MoreNovember 2023 Corn & Soybean Basis Update
As the calendar turns to November, many farmers in the eastern Corn Belt still have corn left to harvest. According to USDA, 68% of corn in Indiana has been harvested as of November 5th. Wet corn in the primary culprit. As a result, many elevators are full and are at drying capacity.
Read MoreFarmer Sentiment Rises as Producers Report Improved Financial Conditions On Their Farms
The Purdue University-CME Group Ag Economy Barometer rose 4 points in October to a reading of 110. The modest improvement in farmer sentiment resulted from farmers’ improved perspective on current conditions on their farms as well as their expectations for the future. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the October 2023 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read MoreCattle Outlook
Slidedeck presentation by James Mintert given at the Livestock Marketing Information Center’s Industry Outlook Conference on October 25, 2023.
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