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Wednesday, October 2, 2013
2013 harvest starts in October
Late in the afternoon on October 1st, NIARC farm foreman Dave Lindgren harvested the first soybean (late group 1) of the year. Today that site was fertilized, tilled and seeded into winter wheat. The soybean was not weighed through a research combine, but Dave's yield monitor recorded 50+ bushel beans.
Dr. Gary Schnitkey, Department of Agricultural and Consumer Economics at the University of Illinois posted projected 2013 and 2014 Operator and Farmland Returns on the Farmdoc website yesterday. Dr. Schnitkey shared that operator and farmland returns are projected to be lower in 2013 and 2014 as compared to returns from 2010, 2011, and 2012. Lower returns are expected primarily because of lower commodity prices, but also because of higher non-land costs. For some farms lower returns will require adjustments. Machinery and other capital purchases may need to be decreased. In addition, cash rents set at high levels may have to be adjusted downward to reflect lower returns. Because projected commodity prices in 2013 and 2014 are near long-run projected levels, the level of returns projected in 2013 and 2014 likely are more representative of levels of returns in the future than return levels from 2010 through 2012.
Dr. Schnitkeys article in its entirety can be accessed at
http://www.farmdoc.illinois.edu/manage/newsletters/fefo13_19/fefo_13_19.html
Dr. Gary Schnitkey, Department of Agricultural and Consumer Economics at the University of Illinois posted projected 2013 and 2014 Operator and Farmland Returns on the Farmdoc website yesterday. Dr. Schnitkey shared that operator and farmland returns are projected to be lower in 2013 and 2014 as compared to returns from 2010, 2011, and 2012. Lower returns are expected primarily because of lower commodity prices, but also because of higher non-land costs. For some farms lower returns will require adjustments. Machinery and other capital purchases may need to be decreased. In addition, cash rents set at high levels may have to be adjusted downward to reflect lower returns. Because projected commodity prices in 2013 and 2014 are near long-run projected levels, the level of returns projected in 2013 and 2014 likely are more representative of levels of returns in the future than return levels from 2010 through 2012.
Dr. Schnitkeys article in its entirety can be accessed at
http://www.farmdoc.illinois.edu/manage/newsletters/fefo13_19/fefo_13_19.html
Please share this article with your friends!
