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Examining the competitiveness of wheat production in different regions of the world is often difficult due to lack of comparable data and agreement regarding what needs to be measured. To be useful, international data needs to be expressed in common production units and converted to a common currency.
Read More about International Benchmarks for Wheat Production (2024)Margaret Lippsmeyer, Michael Langemeier, James Mintert, and Nathan Thompson segment U.S. farms by farm resilience, management practices, and producer sentiment. This paper was presented at the Southern Agricultural Economics Meeting in Atlanta, Georgia in February.
Read More about Farm Resilience, Management Practices, and Producer Sentiment: Segmenting U.S. Farms Using Machine Learning AlgorithmsU.S. farmers’ perspective on the future improved in March helping to push the Purdue University-CME Group Ag Economy Barometer up 3 points from February to a reading of 114. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the March 2024 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read More about Farmer sentiment improves as interest rate expectations shiftIn recent weeks, many eastern Corn Belt locations have seen steady to slightly stronger corn and soybean basis levels. For example, corn basis in central Indiana for the first week of March was $0.24/bu. under May ’24 corn futures. This is $0.05/bu. stronger than the first week of February, but still about $0.18/bu. weaker than the historical 3-year average corn basis for the region.
Read More about Corn and Soybean Basis Continue to Steadily Strengthen at Most Eastern Corn Belt LocationsExamine the competitiveness of soybean production for important international soybean regions using 2018 to 2022 data from the agri benchmark network.
Read More about International Benchmarks for Soybean Production (2024)The list of risks U.S. farmers face is long, ranging from market volatility and supply chain disruptions to erratic weather. Preparing for it all can be overwhelming and seem impossible at times. Being successful in the long run requires sorting out risks and developing strategies to manage and mitigate them. Purdue ag economists James Mintert, Michael Langemeier, & Brady Brewer shared ways in which successful farms manage strategic risks live from Houston, Texas at the 2024 Commodity Classic Learning Center Session on February 29, 2024.
Read More about Positioning Your Farm for Long-Term Success | Commodity Classic 2024The Purdue University-CME Group Ag Economy Barometer rose modestly in February posting a reading of 111, 5 points higher than a month earlier. The modest rise in the barometer was attributable to producers expressing somewhat more optimism about the future as the Future Expectations Index rose 7 points to a reading of 115 while the Current Conditions Index was unchanged, both compared to a month earlier. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the February 2024 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read More about Modest Improvement In Farmer Sentiment, Yet Financial Concerns LoomPurdue University Center for Commercial Agriculture’s ag economists Michael Langemeier and James Mintert and Brad Lubben, policy specialist and extension associate professor from the University of Nebraska-Lincoln, walk participants through key considerations for their 2024 insurance options.
Read More about Making Your 2024 Crop Insurance DecisionBrad Lubben, policy specialist and extension associate professor from the University of Nebraska-Lincoln, joins Purdue ag economists James Mintert and Michael Langemeier for a discussion on key 2024 farm program details. They highlight differences between the PLC and ARC programs for the 2024 crop year and how benefits from the two programs are likely to differ. After listening to the podcast you’ll be ready to make your 2024 farm program choice.
Read More about PLC or ARC: Making Your 2024 Farm Bill Program Price Protection DecisionJoin host Brady Brewer for a Purdue Commercial AgCast episode with Purdue ag economist Michael Langemeier as they discuss USDA’s latest farm income forecast for February 2024. Net farm income is expected to decline by 25% but remain near the long-run average.
Read More about USDA Farm Income Forecast, February 2024 Update