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General Farm Management & Strategy
There are numerous reasons why a farm may want to expand including the following: reduce costs, improve profit margins, improve asset utilization, bring in new family members, invest retained earnings, and more fully utilize the skills of key managers (Boehlje and Langemeier, 2018). The first three reasons are related to economies of size. In general,…
Read MorePurdue ag economists James Mintert and Michael Langemeier share some insight into the results of the April 2023 Purdue University-CME Group Ag Economy Barometer survey. Farmer sentiment improved modestly in April as the Ag Economy Barometer reversed a two-month decline up 6 points to a reading of 123. This month’s survey was conducted from April 10-14, 2023.
Read MoreOver the past several years, maintaining agility and absorption capacity has been a solid mechanism to deal with strategic risk. Absorption capacity has enabled farms to maintain some sense of stability with market turbulence caused by increases in input prices, Covid-19, trade restrictions, higher rental rates, fluctuations in labor availability, ongoing geopolitical conflict, and market downturns. As farms face these obstacles there is also a greater need for agility, including innovative techniques that can reduce business costs, enable workers to shift assignments to meet changing business needs, and diversify to reduce risk.
Read MoreIn its most recent World Agricultural Supply & Demand Estimates (WASDE) report published on April 11th, USDA estimated that 2022 crop corn exports would total 1.85 billion bushels, equal to about 13% of U.S. production. If realized the 1.85 billion bushel forecast would result in the second lowest export total of the last decade and would be down sharply.
Read MoreTwo outstanding farms in south-central Indiana will host visitors wanting to learn about farm and crop management on July 11th for the Purdue University Farm Management Tour. The Indiana Master Farmer reception and panel discussion will follow.
Read MoreIs your farming operation considering farm growth in the near future? Michael Langemeier discusses farm growth with Farm Marketer’s Tracy Brunet on the Impact Farming podcast.
Read MoreThis spreadsheet compares conventional and organic rotations over a ten-year horizon. Specifically, net returns are compared for a conventional corn/soybean rotation, a conventional corn/soybean/wheat rotation, and an organic corn/soybean/wheat rotation.
Read MorePurdue ag economist James Mintert and Michael Langemeier break down the March Purdue University-CME Group Ag Economy Barometer and share some insights into farmer sentiment. This month’s survey was conducted from March 13-17, 2023.
Read MoreOn March 31st USDA released the 2023 Prospective Plantings and the March Grain Stocks reports. Purdue ag economists James Mintert and Michael Langemeier reviewed the information contained in both reports and discussed implications for the corn and soybean outlook in 2023.
Read MoreThe rates reported in this publication were compiled from questionnaires received from farmers, farm owners, farm custom operators, and professional farm managers in Indiana. Purdue Extension Educators distributed the questionnaires at meetings and events statewide during the last month of 2022 and the first three months of 2023. Respondents were asked to report custom rates they had either paid or received during the past year.
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