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Midwest crop producers have experienced a significant downturn in corn, soybean, and wheat prices since the beginning of the year and farm incomes are expected to be much lower in 2024 than they have been the last three to four years. Moreover, current expectations are that prices will continue to remain at or below the cost of production for at least a couple more years. Consequently, a key question being asked is as follows: “who is the most vulnerable financially during this downturn”?
Read MoreThe Purdue University/CME Group Ag Economy Barometer recorded its lowest readings since March 2016 in September. Declining income expectations pushed farmer sentiment down as the barometer fell 12 points to 88. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the September 2024 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read MoreNegotiating cash rental rates? This AgCast episode explores 2024 farmland cash rent trends in the Purdue Farmland Value and Cash Rental Rates survey and long-term trends in Indiana cash rental rates, including an examination of regional variation in rates within Indiana. The discussion concludes by examining the relationship between cash rental rates and estimated net returns to land as well as the long-term farmland price to cash rent ratio.
Read MoreMichael Langemeier presented at the Regional Conservation Finance Ag Educator Training in Arlington, WI on September 16, 2024, on connecting soil health to economics and looking at formulating and priortizing farm goals.
Read MoreMichael Langemeier presented at the Regional Conservation Finance Ag Educator Training in Arlington, WI on September 16, 2024, on the economics of reduced tillage and cover crops.
Read MoreInterested in the latest trends and insights on U.S. & Indiana farmland values? This AgCast episode shares insights from the Farm Sector Balance Sheet, USDA data collection methods, regional variations in land values, and the influences of factors such as interest rates and development pressures on farmland prices. Gain an in-depth understanding of trends, market dynamics, and future expectations for farmland values.
Read MoreLooking back on last year, the importance of understanding how basis affects your marketing plan is evident. Basis levels for corn and soybeans peaked at different times during the 2023-2024 marketing year. Preparing for the Fall 2024 harvest, basis levels continue to be below the three-year trend. To check your up-to-date local basis levels throughout harvest this fall, visit Purdue Center for Commercial Agriculture Crop Basis Tool.
Read MoreExplore key trends in corn plant populations across Iowa, Illinois, and Indiana, revealing a steady 1 percent annual increase from 1996 to 2023. With Illinois leading the charge, corn populations rose significantly from 24,200 to 32,400 plants per acre, influencing both seed costs and farm budgets. Discover how understanding the interplay between seed prices and plant population can enhance your farm’s productivity and budgeting strategies.
Read MoreThe August Purdue University/CME Group Ag Economy Barometer dropped 13 points from July to a reading of 100, echoing levels seen from fall 2015 to winter 2016 during the early stages of a significant downturn in the U.S. farm economy. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the August 2024 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.
Read MoreIndiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. The average price of top-quality farmland reached $14,392 per acre, a 4.8% increase from June 2023. Average and poor-quality farmland also saw gains, with prices increasing 3.7% and 4.4% to $11,630 and $9,071 per acre, respectively.
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