http://farmdoc.illinois.edu/pubs/management_search_archive.asp en-us ℗ & © 2013 The Board of Trustees of the University of Illinois The Farm Economics Facts and Opinions (FEFOs) newsletters address economic topics related to farm management. Two issues are released per month. farmdoc: Univesity of Illinois at Urbana-Champaign The Farm Economics Facts and Opinions (FEFOs) newsletters address economic topics related to farm management. Two issues are released per month. The Farm Economics Facts and Opinions (FEFOs) newsletters address economic topics related to farm management. Two issues are released per month. farmdoc farmdoc@illinois.edu Gary Schnitkey According to the National Agricultural Statistical Service (NASS), Illinois cash rents in 2012 increased by 16% over 2011 levels. Cash rents increases between 2012 and 2013 likely will not be as large. According to the National Agricultural Statistical Service (NASS), Illinois cash rents in 2012 increased by 16% over 2011 levels. Cash rents increases between 2012 and 2013 likely will not be as large. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_20.mp3 Tue, 11 Sep 2012 12:25CST 3:28 agricultural, management Gary Schnitkey Projected 2013 budgets suggest non-land costs will be the same for corn and soybeans in 2013 as in 2012. Projected 2013 returns for corn are projected to be between 2011 and 2012 returns. Projected 2013 soybean returns are lower than 2011 and 2012 returns. Projected 2013 budgets suggest non-land costs will be the same for corn and soybeans in 2013 as in 2012. Projected 2013 returns for corn are projected to be between 2011 and 2012 returns. Projected 2013 soybean returns are lower than 2011 and 2012 returns. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_19.mp3 Tue, 21 Aug 2012 12:15CST 6:36 agricultural, management Gary Schnitkey During short crop years, corn and soybeans prices often peak early and then decline throughout the remainder of the marketing year. This suggests that producers may wish to consider pricing some grain before harvest. This is particularly true for farmers who insured using Revenue Protection (RP) insurance. During short crop years, corn and soybeans prices often peak early and then decline throughout the remainder of the marketing year. This suggests that producers may wish to consider pricing some grain before harvest. This is particularly true for farmers who insured using Revenue Protection (RP) insurance. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_17.mp3 Tue, 24 July 2012 12:10CST 4:57 agricultural, management Gary Schnitkey and Carl Zulauf The House Discussion Draft of the Farm Bill includes a target price program called Price Loss Coverage (PLC). Parameters of the House Bill cause estimated payments from PLC to be higher for wheat, rice, and peanuts than for corn and soybeans, potentially impacting acreage decisions. The House Discussion Draft of the Farm Bill includes a target price program called Price Loss Coverage (PLC). Parameters of the House Bill cause estimated payments from PLC to be higher for wheat, rice, and peanuts than for corn and soybeans, potentially impacting acreage decisions. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_16.mp3 Thurs, 12 July 2012 14:08CST 6:12 agricultural, management Gary Schnitkey Low corn and soybean yields are increasingly likely as hot, dry weather is forecast to continue. Because prices likely will increase with lower yields, grain farm incomes likely will be above projections made in winter of 2012. However, some farms will suffer losses. Low corn and soybean yields are increasingly likely as hot, dry weather is forecast to continue. Because prices likely will increase with lower yields, grain farm incomes likely will be above projections made in winter of 2012. However, some farms will suffer losses. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_15.mp3 Thurs, 28 June 2012 10:50CST 5:59 agricultural, management Gary Schnitkey The Farm Bill passed by the Senate Agriculture Committee has commodity program payments tied to risk management through such program as Agricultural Risk Coverage (ARC) and cotton STAX. This emphasis differs from the 2008 Farm Bill where most commodity title payments are direct payments. The emphasis shift from direct payments to risk management changes the mix in spending across crops. The Farm Bill passed by the Senate Agriculture Committee has commodity program payments tied to risk management through such program as Agricultural Risk Coverage (ARC) and cotton STAX. This emphasis differs from the 2008 Farm Bill where most commodity title payments are direct payments. The emphasis shift from direct payments to risk management changes the mix in spending across crops. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_14.mp3 Wed, 13 June 2012 12:19CST 6:32 agricultural, management Gary Schnitkey An analysis is presented of the target price option contained in the Farm Bill proposal made as part of Super Committee deliberations last year. Frequency of payments will vary across crops because the relationship between the proposed target price and long-run price varies across commodities. An analysis is presented of the target price option contained in the Farm Bill proposal made as part of Super Committee deliberations last year. Frequency of payments will vary across crops because the relationship between the proposed target price and long-run price varies across commodities. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_13.mp3 Tue, 5 June 2012 12:19CST 4:37 agricultural, management Gary Schnitkey The Senate Agriculture Committee recently passed a version of a Farm Bill that replaces direct, counter-cyclical, and SURE payments with Agricultural Risk Coverage (ARC). Payments under ARC are evaluated for differing price scenarios. The Senate Agriculture Committee recently passed a version of a Farm Bill that replaces direct, counter-cyclical, and SURE payments with Agricultural Risk Coverage (ARC). Payments under ARC are evaluated for differing price scenarios. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_11.mp3 Wed, 9 May 2012 12:19CST 4:45 agricultural, management Gary Schnitkey Discussion has centered on limiting crop insurance risk subsidies. Between 2006 and 2012, acres required to reach the limit for average farms in Illinois are between 1,600 and 2,700 acres, not particularly large grain farms. Discussion has centered on limiting crop insurance risk subsidies. Between 2006 and 2012, acres required to reach the limit for average farms in Illinois are between 1,600 and 2,700 acres, not particularly large grain farms. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_10.mp3 Tue, 1 May 2012 16:00CST 3:54 agricultural, management Gary Schnitkey While planted acres have grown over time, the areas where corn is grown in the United States has not changed much. Success of corn intense rotation will impact whether large corn plantings occur in the future. While planted acres have grown over time, the areas where corn is grown in the United States has not changed much. Success of corn intense rotation will impact whether large corn plantings occur in the future. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_09.mp3 Tue, 3 April 2012 13:41CST 5:08 agricultural, management Gary Schnitkey Returns projected using 2012 default budgets in the Corn-Soybeans Rotation Tool indicate that corn-soybean rotations have higher projected returns than continuous corn, given that commodity prices are at current harvest-time bids. Returns projected using 2012 default budgets in the Corn-Soybeans Rotation Tool indicate that corn-soybean rotations have higher projected returns than continuous corn, given that commodity prices are at current harvest-time bids. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_08.mp3 Tue, 27 March 2012 12:58CST 3:46 agricultural, management Gary Schnitkey ACRE is not likely to make payments on Illinois crops in either 2011 or 2012. ACRE is not likely to make payments on Illinois crops in either 2011 or 2012. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_07.mp3 Tue, 13 March 2012 12:30CST 6:02 agricultural, management Gary Schnitkey In 2011, most corn and soybean acres in Illinois were insured using Revenue Protection (RP) at a 75% or higher coverage level. At these coverage levels, most acres where insured using enterprise units. Similar percentages are likely in 2012. In 2011, most corn and soybean acres in Illinois were insured using Revenue Protection (RP) at a 75% or higher coverage level. At these coverage levels, most acres where insured using enterprise units. Similar percentages are likely in 2012. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_06.mp3 Tue, 28 Feb 2012 10:35CST 6:20 agricultural, management Gary Schnitkey GRIP based on 2011 yields and prices will make payments in many central and southern Illinois counties. GRIP based on 2011 yields and prices will make payments in many central and southern Illinois counties. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_05.mp3 Fri, 24 Feb 2012 14:48CST 2:22 agricultural, management Gary Schnitkey Revenue Protection (RP) with Exclusion is a viable alternative to RP, particualarly if RP with Exclusion is purchased at a 5 percent higher coverage level. Revenue Protection (RP) with Exclusion is a viable alternative to RP, particualarly if RP with Exclusion is purchased at a 5 percent higher coverage level. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_04.mp3 Tue, 21 Feb 2012 13:04CST 7:00 agricultural, management Gary Schnitkey GLong-run impacts of corn-soybean cropping decisions are evaluated in this article. More intense corn rotations reduce corn-after-soybeans acres, often some of the most profitable acres on a farm. Long-run impacts of corn-soybean cropping decisions are evaluated in this article. More intense corn rotations reduce corn-after-soybeans acres, often some of the most profitable acres on a farm. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_03.mp3 Wed, 31 Jan 2012 13:030CST 6:19 agricultural, management Gary Schnitkey GRIP premiums will increase in 2012 due to re-ratings. This may lead some farmers to re-evaluated using GRIP. GRIP premiums will increase in 2012 due to re-ratings. This may lead some farmers to re-evaluated using GRIP. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_02.mp3 Wed, 24 Jan 2012 14:30CST 6:32 agricultural, management Gary Schnitkey and Bruce Sherrick Reductions in 2012 Revenue Protection crop insurance for corn and soybean policies in Illinois are shown in this paper. Reductions in 2012 Revenue Protection crop insurance for corn and soybean policies in Illinois are shown in this paper. Gary Schnitkey and Bruce Sherrick, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_12_01.mp3 Wed, 18 Jan 2012 11:30CST 3:50 agricultural, management Bruce Sherrick and Gary Schnitkey Beginning with the 2012 crop year, farmers purchasing crop insurance for corn and soybeans in fourteen Midwestern states will have the option to use the Trend-Adjusted Actual Production History (TA-APH) Yield Endorsement. The TA-APH yield endorsement allows farmers to increase yields used in calculating crop insurance guarantees. Beginning with the 2012 crop year, farmers purchasing crop insurance for corn and soybeans in fourteen Midwestern states will have the option to use the Trend-Adjusted Actual Production History (TA-APH) Yield Endorsement. The TA-APH yield endorsement allows farmers to increase yields used in calculating crop insurance guarantees. Bruce Sherrick and Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_23.mp3 Tue, 6 Dec 2011 12:38CST 5:35 agricultural, management Gary Schnitkey During the fall of 2011, future prices suggest that 2012 projected cash prices declined by $1.00 per bushel for corn and $2.00 per bushel for soybeans. These price declines lowered crop returns by around $145 per acre and reduce the difference in corn and soybean production. During the fall of 2011, future prices suggest that 2012 projected cash prices declined by $1.00 per bushel for corn and $2.00 per bushel for soybeans. These price declines lowered crop returns by around $145 per acre and reduce the difference in corn and soybean production. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_22.mp3 Tue, 29 Nov 2011 12:38CST 3:47 agricultural, management Gary Schnitkey Published average cash rents mask the variability that exists in the farmland rental markets. This article develops a distribution of farm rents to average county cash rents. Only 35 percent of farm rents are within $20 of county averages. Published average cash rents mask the variability that exists in the farmland rental markets. This article develops a distribution of farm rents to average county cash rents. Only 35 percent of farm rents are within $20 of county averages. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_21.mp3 Tue, 15 Nov 2011 12:43CST 4:19 agricultural, management Gary Schnitkey Many Illinois farmers have been disappointed with 2011 corn-after-corn yields, reporting significantly lower corn-after-corn yields compared to corn-after-soybean yields. Break-even corn-after-corn yields for 2012 are between 24 and 35 bushels lower than corn-after-soybean yields. Many Illinois farmers have been disappointed with 2011 corn-after-corn yields, reporting significantly lower corn-after-corn yields compared to corn-after-soybean yields. Break-even corn-after-corn yields for 2012 are between 24 and 35 bushels lower than corn-after-soybean yields. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_20.mp3 Tue, 1 Nov 2011 12:43CST 4:59 agricultural, management Gary Schnitkey A $3.70 per bushel for corn and $8.51 per bushel for soybeans results in $50,000 of net income on a grain farm that purchases crop insurance and owns 15 percent, share-rents 45 percent, and cash rents 40 percent of its farmland. A $3.70 per bushel for corn and $8.51 per bushel for soybeans results in $50,000 of net income on a grain farm that purchases crop insurance and owns 15 percent, share-rents 45 percent, and cash rents 40 percent of its farmland. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_19.mp3 Tue, 25 Oct 2011 12:43CST 4:13 agricultural, management Gary Schnitkey The ratio of anhydrous ammonia to natural gas prices has become more variable and higher since 2006. Changes in anhydrous ammonia prices are not being driven by changes in natural gas prices. The ratio of anhydrous ammonia to natural gas prices has become more variable and higher since 2006. Changes in anhydrous ammonia prices are not being driven by changes in natural gas prices. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_18.mp3 Tue, 18 Oct 2011 12:43CST 4:27 agricultural, management Gary Schnitkey A “cash rent with bonus” leasing arrangement is a variable cash rent lease that has a base rent and the potential for a bonus if crop revenue exceeds target revenue. This document describes details of cash rent with bonus arrangements. A “cash rent with bonus” leasing arrangement is a variable cash rent lease that has a base rent and the potential for a bonus if crop revenue exceeds target revenue. This document describes details of cash rent with bonus arrangements. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_17.mp3 Tue, 27 Sep 2011 12:55CST 6:23 agricultural, management Gary Schnitkey This article shows 2011 cash rents by county and Illinois Society 2011 rents and projected 2012 rents by productivity class. This article shows 2011 cash rents by county and Illinois Society 2011 rents and projected 2012 rents by productivity class. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_16.mp3 Tue, 13 Sep 2011 13:00CST 3:26 agricultural, management Gary Schnitkey According to an August 4th report released by the U.S. Department of Agriculture, Illinois farmland price averaged $5,800 per acre in 2011, an increase of 18 percent over the 2010 level of $4,900. Analysis suggest farmland prices are in line with return and interest rate levels. According to an August 4th report released by the U.S. Department of Agriculture, Illinois farmland price averaged $5,800 per acre in 2011, an increase of 18 percent over the 2010 level of $4,900. Analysis suggest farmland prices are in line with return and interest rate levels. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_15.mp3 Tue, 9 Aug 2011 10:28CST 5:54 agricultural, management Gary Schnitkey Recently compiled 2012 southern Illinois crop budgets have projected operator and farmland returns for wheat/double crop soybean at $359 per acre. This $359 per acre return compares to $418 per acre from corn-after-soybeans and $315 per acre for soybeans. Recently compiled 2012 southern Illinois crop budgets have projected operator and farmland returns for wheat/double crop soybean at $359 per acre. This $359 per acre return compares to $418 per acre from corn-after-soybeans and $315 per acre for soybeans. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_14.mp3 Tue, 2 Aug 2011 11:55CST 2:56 agricultural, management Gary Schnitkey Costs in 2012 are projected to increase, leading to high break-even commodity prices. Projected 2012 commodity prices suggest that 2012 will be a profitable year. Of course, economic situation could change between now and 2012 harvest. Costs in 2012 are projected to increase, leading to high break-even commodity prices. Projected 2012 commodity prices suggest that 2012 will be a profitable year. Of course, economic situation could change between now and 2012 harvest. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_13.mp3 Wed, 20 July 2011 12:38CST 5:11 agricultural, management Gary Schnitkey It has been suggested that farmers consider locking in profits for the 2012 production year. Current commodity price and cost levels suggest it may be possible to lock in profits. To lock in profits, both gross revenue and input costs must be dealt with. It has been suggested that farmers consider locking in profits for the 2012 production year. Current commodity price and cost levels suggest it may be possible to lock in profits. To lock in profits, both gross revenue and input costs must be dealt with. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_12.mp3 Wed, 6 July 2011 12:50CST 7:06 agricultural, management Bradley L. Zwilling In 2010, the total of all economic costs per acre for growing corn in Illinois averaged $739 in the northern section, $717 in the central section for farmland with “high” soil ratings, $687 in the central section for farmland with “low” soil ratings, and $635 in the southern section. Soybean costs per acre were $524, $539, $493 and $467, respectively. In 2010, the total of all economic costs per acre for growing corn in Illinois averaged $739 in the northern section, $717 in the central section for farmland with “high” soil ratings, $687 in the central section for farmland with “low” soil ratings, and $635 in the southern section. Soybean costs per acre were $524, $539, $493 and $467, respectively. Bradley L. Zwilling, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_11.mp3 Wed, 22 June 2011 09:17CST 3:24 agricultural, management Gary Schnitkey In this article, net returns from taking a prevented planting are compared to expected net returns from planting corn and soybeans. Examples suggest prevented planting have returns competitive with planting corn or soybeans. In this article, net returns from taking a prevented planting are compared to expected net returns from planting corn and soybeans. Examples suggest prevented planting have returns competitive with planting corn or soybeans. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_10.mp3 Wed, 25 May 2011 12:30CST 6:41 agricultural, management Gary Schnitkey and Bruce Sherrick Relative to no hedging, hedging will reduce risks of low revenue. Only modest amounts of hedging are needed to reduce risks when 75 percent and higher crop insurance policies are purchased. Relative to no hedging, hedging will reduce risks of low revenue. Only modest amounts of hedging are needed to reduce risks when 75 percent and higher crop insurance policies are purchased. Gary Schnitkey and Bruce Sherrick, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_09.mp3 Wed, 18 May 2011 12:55CST 3:57 agricultural, management Gary Schnitkey and Ryan Batts Based on defaults in a Planting Decision Model, switching from soybean on farmland scheduled to be planted to corn is several weeks away. Based on defaults in a Planting Decision Model, switching from soybean on farmland scheduled to be planted to corn is several weeks away. Gary Schnitkey and Ryan Batts, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_08.mp3 Wed, 27 Apr 2011 13:25CST 2:32 agricultural, management Clay Kramer and Gary Schnitkey From 2007 to the present, publically traded companies dealing with crop farms have had larger market value increases than companies contained in the S&P 500. From 2007 to the present, publically traded companies dealing with crop farms have had larger market value increases than companies contained in the S&P 500. Clay Kramer and Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_07.mp3 Wed, 13 Apr 2011 11:50CST 7:11 agricultural, management Gary Schnitkey The Energy Independence and Security Act of 2007 mandates that 79 billion liters of biofuels must be produced annually from non- corn starch feedstocks by 2022. The Energy Independence and Security Act of 2007 mandates that 79 billion liters of biofuels must be produced annually from non- corn starch feedstocks by 2022. Madhu Khanna, Atul Jain and Anthony Oliver, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_06.mp3 Fri, 1 Apr 2011 15:00CST 11:17 agricultural, management Gary Schnitkey Corn is projected to be more profitable than soybeans by historic margins over much of the corn-belt. Corn is projected to be more profitable than soybeans by historic margins over much of the corn-belt. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_05.mp3 Fri, 25 Mar 2011 09:45CST 7:11 agricultural, management Gary Schnitkey Most Illinois farmers will purchase RP or GRIP-HR for insuring corn and soybeans. Most Illinois farmers will purchase RP or GRIP-HR for insuring corn and soybeans. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_04.mp3 Fri, 11 Mar 2011 11:40CST 11:13 agricultural, management Gary Schnitkey and Bruce Sherrick GRIP-HR premiums will be higher in 2011 than in 2010. Over much of Illinois, expected payments are projected to exceed farmer-paid premiums. GRIP-HR premiums will be higher in 2011 than in 2010. Over much of Illinois, expected payments are projected to exceed farmer-paid premiums. Gary Schnitkey and Bruce Sherrick, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_03.mp3 Wed, 23 Feb 2011 11:40CST 4:38 agricultural, management Gary Schnitkey and Bruce Sherrick The 2011 premiums for Revenue Protection, a farm-level crop insurance product, will be considerably higher than 2010 products primarily due to higher projected prices and volatilities. The 2011 premiums for Revenue Protection, a farm-level crop insurance product, will be considerably higher than 2010 products primarily due to higher projected prices and volatilities. Gary Schnitkey and Bruce Sherrick, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_02.mp3 Fri, 28 Jan 2011 13:30CST 8:00 agricultural, management Gary Schnitkey Non-land costs projected to rise in 2011 to near $500 per acre for corn in central Illinois. Continued increases in costs are likely in 2012. Non-land costs projected to rise in 2011 to near $500 per acre for corn in central Illinois. Continued increases in costs are likely in 2012. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_11_01.mp3 Tue, 18 Jan 2011 11:00CST 3:56 agricultural, management Gary Schnitkey Currently, budgeting for the 2011 crop year indicates that corn will be much more profitable than soybeans. Currently, budgeting for the 2011 crop year indicates that corn will be much more profitable than soybeans. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_18.mp3 Mon, 2 Nov 2010 10:30CST 4:30 agricultural, management Gary Schnitkey Farmland prices are likely to increase over the next year due to higher commodity prices. The possibility of interest rate increases poses a risk for declining farmland prices. Farmland prices are likely to increase over the next year due to higher commodity prices. The possibility of interest rate increases poses a risk for declining farmland prices. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_17.mp3 Mon, 17 Oct 2010 13:10CST 7:39 agricultural, management Gary Schnitkey SURE program deadline is approaching for the 2008 year. Most Illinois farms will not receive payments, but those that do may receive large SURE payments. SURE program deadline is approaching for the 2008 year. Most Illinois farms will not receive payments, but those that do may receive large SURE payments. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_16.mp3 Fri, 24 Sep 2010 16:00CST 6:25 agricultural, management Gary Schnitkey The COMBO product is being released to insure 2011 crops. Revenue Protection, Yield Protection, and Revenue Protection with Exclusion plans in the COMBO policy replace CRC, RA, IP, and APH policies. The COMBO product is being released to insure 2011 crops. Revenue Protection, Yield Protection, and Revenue Protection with Exclusion plans in the COMBO policy replace CRC, RA, IP, and APH policies. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_15.mp3 Mon, 30 Aug 2010 12:00CST 3:58 agricultural, management Gary Schnitkey First estimates of 2011 returns for Illinois crops are provided in this report. Current projections suggest that 2011 returns will be below 2007 and 2008 levels, but above those for 2009. First estimates of 2011 returns for Illinois crops are provided in this report. Current projections suggest that 2011 returns will be below 2007 and 2008 levels, but above those for 2009. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_14.mp3 Mon, 16 Aug 2010 16:00CST 11:26 agricultural, management Bradley L. Zwilling Each year the National Agricultural Statistics Service of the USDA releases estimated average farm real estate values and cash rents by state. Each year the National Agricultural Statistics Service of the USDA releases estimated average farm real estate values and cash rents by state. Bradley L. Zwilling, Extension Specialist and Farm Business Analyst for Farm Business Farm Management (FBFM) http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_13.mp3 Fri, 13 Aug 2010 13:00CST 5:42 agricultural, management Gary Schnitkey Between 2005 and 2009, machinery-related costs increased by 38% on Illinois grain farms. Categories leading the increases were machinery depreciation and machinery repairs. Between 2005 and 2009, machinery-related costs increased by 38% on Illinois grain farms. Categories leading the increases were machinery depreciation and machinery repairs. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_12.mp3 Mon, 26 Jul 2010 13:00CST 6:12 agricultural, management Gary Schnitkey Evaluation of working day data from 1980 through 2009 indicates that there is about a 50% chance that any day in April or May will be suitable for field work. Significantly fewer days were available during 2009 than indicated by these preceding probabilities. Evaluation of working day data from 1980 through 2009 indicates that there is about a 50% chance that any day in April or May will be suitable for field work. Significantly fewer days were available during 2009 than indicated by these preceding probabilities. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_11.mp3 Fri, 4 Jun 2010 15:00CST 4:31 agricultural, management Gary Schnitkey Non-land costs in 2010 are projected to be below the record high non-land costs of 2009. Projected 2010 returns are below 2007 and 2009 levels and are near 2000 through 2003 levels. Non-land costs in 2010 are projected to be below the record high non-land costs of 2009. Projected 2010 returns are below 2007 and 2009 levels and are near 2000 through 2003 levels. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_10.mp3 Mon, 24 May 2010 1:00CST 3:50 agricultural, management Gary Schnitkey For 2009, state ACRE payments in Illinois are estimated at $27 per acre for corn, $0 for soybeans, and $90 for wheat. For 2010, state ACRE payments are estimated at $41 per acre for corn, $14 for soybeans, and $33 for wheat. For 2009, state ACRE payments in Illinois are estimated at $27 per acre for corn, $0 for soybeans, and $90 for wheat. For 2010, state ACRE payments are estimated at $41 per acre for corn, $14 for soybeans, and $33 for wheat. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_09.mp3 Wed, 28 Apr 2010 4:00CST 6:40 agricultural, management Bradley L. Zwilling with Dwight Raab Average 2009 incomes for farm enrolled in FBFM are much lower than in 2008. Average 2009 incomes for farm enrolled in FBFM are much lower than in 2008. Bradley L. Zwilling with Dwight Raab, FBFM Farm Business Analyst and Extension Specialist, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_08.mp3 Mon, 26 Apr 2010 11:00CST 6:31 agricultural, management Gary Schnitkey The National Agricultural Statistical Service (NASS) recently released their estimates of average cash rents per county for 2009. Forty-one percent of the counties had cash rent increases while 37% had decreases. The National Agricultural Statistical Service (NASS) recently released their estimates of average cash rents per county for 2009. Forty-one percent of the counties had cash rent increases while 37% had decreases. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_07.mp3 Mon, 12 Apr 2010 13:00CST 5:13 agricultural, management Gary Schnitkey Corn yields in 2010 were generally above trend, except for some counties in northern Illinois. Soybeans yields were mixed. GRIP payments for corn will occur in six counties. Soybean GRIP payments will occur in Jasper County. Corn yields in 2010 were generally above trend, except for some counties in northern Illinois. Soybeans yields were mixed. GRIP payments for corn will occur in six counties. Soybean GRIP payments will occur in Jasper County. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_06.mp3 Mon, 5 Apr 2010 12:00CST 5:14 agricultural, management Gary Schnitkey From 1990-1994 to 2005-2009, soybeans and corn grew in acres. Crops losing acres were wheat, barley, grain sorghum, corn silage, cotton, peanuts, dry edible beans, and potatoes. Corn and soybean acre increases were predominately located in the great plains and greater Corn Belt. From 1990-1994 to 2005-2009, soybeans and corn grew in acres. Crops losing acres were wheat, barley, grain sorghum, corn silage, cotton, peanuts, dry edible beans, and potatoes. Corn and soybean acre increases were predominately located in the great plains and greater Corn Belt. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_05.mp3 Mon, 29 Mar 2010 13:00CST 6:19 agricultural, management Gary Schnitkey GRIP payments will be lower in 2010 but will vary by county. GRIP payments will be lower in 2010 but will vary by county. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_04.mp3 Thu, 11 Mar 2010 13:00CST 4:56 agricultural, management Gary Schnitkey Two model crop insurance programs, along with criteria for choosing between the two, are laid out in this paper. Two model crop insurance programs, along with criteria for choosing between the two, are laid out in this paper. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_03.mp3 Fri, 5 Mar 2010 13:00CST 5:01 agricultural, management Gary Schnitkey Fertilizer costs for corn in 2010 likely will average $100 per acre for corn on high-productivity farmland in Illinois. These costs will be below 2009 costs. Fertilizer costs for corn in 2010 likely will average $100 per acre for corn on high-productivity farmland in Illinois. These costs will be below 2009 costs. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_02.mp3 Thu, 4 Feb 2010 13:00CST 5:13 agricultural, management Gary Schnitkey From 1960 through 2009, growth rates of yields average 1.9 percent for corn, 1.1 percent for soybeans, 1.5 percent for wheat, and .8 percent for alfalfa. In the most recent decade, corn growth rates have exceeded the 1960-2009 average while soybeans, wheat, and alfalfa growth rates have been below 1960-2009 averages. From 1960 through 2009, growth rates of yields average 1.9 percent for corn, 1.1 percent for soybeans, 1.5 percent for wheat, and .8 percent for alfalfa. In the most recent decade, corn growth rates have exceeded the 1960-2009 average while soybeans, wheat, and alfalfa growth rates have been below 1960-2009 averages. Gary Schnitkey, Department of Agricultural and Consumer Economics, University of Illinois http://www.farmdoc.illinois.edu/podcasts/fefo/FEFO_10_01.mp3 Thu, 27 Jan 2010 11:00CST 5:30 agricultural, management