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Around the County

Frequent information updates for agricultural audiences

Lower Income Projections Lead to Revised 2016 Crop Budgets - from Gary Schnitkey

Posted by John Fulton -

Crop budgets for 2016 have been revised. Primarily because of lower corn and soybean prices, the revised budgets have lower operator and land returns than those released in June 2015 budgets. The complete set includes budgets for corn, soybeans, wheat, and double-crop soybeans grown in northern, central, and southern Illinois. These are available on...

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Fly Free Date for Wheat Planting in Illinois

Posted by John Fulton -

As wheat has become less common as a crop, it is harder to find the "fly free date" in publications. For those who are not familiar with the term, this comes from the date after which damage from the Hessian fly is negligible. It is also the planting date range which typically gives the best yields of wheat for a variety of reasons, including less damage from Septoria leaf spot and Barley yellow d...

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Decreasing 2016 Cash Rents on Professionally Managed Farmland and Lags in Cash Rent Changes - from Gary Schnitkey

Posted by John Fulton -

Cash rents on professionally-managed farmland likely will decrease for the 2016 cropping year. Rents on non-professionally managed farmland likely will decrease as well. However, projected rent decreases are not large enough to cause farmers to have positive returns in 2016 given current projections of commodity prices and costs. The lagged relationship between returns and cash rents still...

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Smaller corn supplies provide opportunity for price rallies - from Darrel Good

Posted by John Fulton -

The December 2015 corn futures reached a low of $3.575 following the release of the surprisingly large production forecast on August 12. Prices, however, found some support from the USDA...

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Sequestration and Farm Program Payments - from Jonathan Coppess, Gary Schnitkey, Nick Paulson, and Carl Zulauf

Posted by John Fulton -

Recent reports indicate that payments from the Price Loss Coverage (PLC) or Agriculture Risk Coverage (ARC) programs for the 2014 crop year may be reduced by nearly 7% due to seque...

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Parameters for a 2016 Cash Rent with Bonus - from Gary Schnitkey

Posted by John Fulton -

Cash rents need to be lowered to avoid farmer losses in 2016 ( farmdoc daily , September 1, 2015 ). For obvious reasons, landowners are reluctant to lower cash rents, particularly given uncertainty about 2016 revenue. Switching from a fixed cash rent lease to a variable cash lease allow...

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Cutting $100 per Acre in Costs for Corn and Soybeans - from Gary Schnitkey

Posted by John Fulton -

Background Budgets for 2016 suggest that farmers need to cut costs to avoid large losses on cash rent farmland. Table 1 shows a 2016 corn budget for farmland producing 200 bushels per acre. Gross revenue of $800 is projected, consisting of $750 of crop revenue and $50 of ARC payments. The $750 of crop revenue equals 200 bushels per acre yield times a $3.75 per bushel se...

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