Farm Management Tour: July 17, 2024

Learn about innovative farm management strategies, new technologies for improving efficiency and productivity, ways to ensure a successful transition of farm operations to the next generation. Join us at the 91st annual Purdue Farm Management Tour and reception honoring the 2024 Indiana Master Farmers in Randolph County (Winchester), Indiana on Wednesday, July 17th.

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Crops

Conventional and Organic Enterprise Net Returns

Comparing crop yields, gross revenue, total expense, and net returns for conventional and organic alfalfa, corn, oats, soybeans, and winter wheat using FINBIN data.

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Comparing Net Returns for Alternative Leasing Arrangements

This article used a case farm in west central Indiana to compare the net return to land for crop share, fixed cash rent, and flexible cash leases. The average net returns to land from a landowner perspective were similar among the three lease arrangements.

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Forecasting New Crop Basis Bids for Fall 2023

We are now in the final weeks of the 2022-2023 crop marketing year, and after what has been a wild year for corn and soybean basis, basis bids for old crop corn and soybeans have largely settled and are in alignment with historical values for this time of year in most regions across the eastern Corn Belt.

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Comparing Corn and Soybean Marketing Strategies

This article identified the optimal portfolio of corn and soybean marketing strategies for a case farm in southeast Indiana. The hedge and roll strategy had the highest net return per acre, and the lowest level of downside risk of any of the individual marketing strategies. However, downside risk can be reduced by diversifying marketing strategies. In particular, combining the hedge and roll strategy with the marketing year cash price strategy was effective in reducing downside risk and resulted in only a slight decline in net return per acre.

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Comparing Soybean Marketing Strategies

While there have been numerous studies or articles that have evaluated grain marketing and crop insurance strategies separately, there is limited previous literature that examines these tools simultaneously. The purpose of this article is to identify which strategies contribute to an optimal portfolio of soybean marketing strategies for a case farm in southeast Indiana using a downside risk model.

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Comparing Corn Marketing Strategies

While there have been numerous studies or articles that have evaluated grain marketing and crop insurance strategies separately, there is limited previous literature that examines these tools simultaneously. The purpose of this study was to identify which strategies contributed to an optimal portfolio of corn marketing strategies for a case farm in southeast Indiana using a downside risk model.

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Soybean Outlook Update Following USDA’s June WASDE Report

Soybean futures volatility increased sharply this week as futures prices responded to concerns about dry weather possibly impacting crop yields. Purdue ag economists James Mintert and Nathanael Thompson discussed the updated soybean outlook on the latest Purdue Commercial AgCast video podcast.

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Corn Outlook Update Following USDA’s June WASDE Report

Purdue ag economists James Mintert and Nathanael Thompson discussed the updated corn outlook following USDA’s June World Ag Supply and Demand Estimates (WASDE) report on the latest Purdue Commercial AgCast video podcast. The latest corn crop condition ratings were discussed along with implications for 2023 U.S. corn yield, production and carryover stocks.

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Corn Basis Implications from July-September Futures and Weather Conditions

Corn and soybean basis has been relatively steady in recent weeks in most regions of the eastern Corn Belt. Attention now shifts to the July-September corn futures price spread, which has a strong inversion—September trading for $0.73/bu. less than July. How will this impact basis patterns for the remainder of the summer?

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U.S. Corn Exports Struggle to Meet USDA’s Weak Export Forecast

Seasonally, U.S. corn exports tend to peak in the spring and weaken into the summer months. Although weekly corn export shipments have improved since late winter, they have not increased enough to offset weak exports last fall and especially during much of the winter.

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