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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General Farm Management & Strategy

Commodity Program Primer

The 2014 Farm Bill has completely overhauled the U.S. crop commodity payment system. Direct payment, counter-cyclical payment, and ACRE (average crop revenue election) payment programs have all been eliminated.

Agriculture Risk Coverage-Individual (ARC-IC)

The ARC-IC calculation depends on three measures of revenue defined on the first page. The ARC-IC payment is unique in the current farm bill for its use of planted acreage in determining the level of payment received. The ARC-IC is also unique in that it only allows for payments on 65% of a farm’s base acres.

Managing Risk in Your Farm Business

Most people working in agriculture are in the business of commodities. And in the long run, in a commodity business, it’s crucial to be a low-cost producer. Here are some practical ways that you can start lowering your costs today.

The End of the Direct Payment Era in U.S. Farm Policy

Direct payments are to be eliminated from the new farm bill, an action that has near unanimous support among U.S. lawmakers.

Agriculture Risk Coverage-County (ARC-CO)

Agricultural Risk Coverage-County Option (ARC-CO) is a new program in the 2014 Farm Bill. ARC-CO payments are made when the average county revenue for a commodity falls below that county’s revenue guarantee per acre.

Depreciation and Expensing Options

This article reviews depreciation and expensing options for recent years and options currently available for 2013 and 2014. The discussion emphasizes changes affecting agricultural producers and farm businesses.

Crop Insurance Indemnities: Some Tax Considerations for 2013

Corn and soybean yields for most Indiana producers are higher in 2013 than they were in 2012, but crop prices are lower. A number of producers may also have crop insurance indemnities from 2012 crops which have not yet been reported as income.

The Business Climate for Agriculture: Positioning for Turbulent Times

A key theme underlying the discussions and presentations at the 2013 Kansas City Federal Reserve Bank Agricultural Symposium — the Shifting Nexus of Global Agriculture — was the uncertainty the industry is facing in many dimensions

Determining a Value for Corn Silage

Pricing silage crops can be much more challenging than pricing grains, since they are not sold as routinely and, therefore, do not have a readily known market price. The following is a brief discussion of some methods for determining prices for various types of silage.

Strategies for Success in Turbulent Times: Ten Strategic Initiatives

Farm businesses are facing increasing complexity and uncertainty in today’s turbulent business climate. Farms continue to be family based businesses and are modest size compared too much of the industrial sector, but an increasing number of farms are becoming multi-million dollar gross sales businesses with a sizeable work-force and rapidly increasing financial capital and land resources.

Center for Commercial Agriculture