A Summary of the USDA s Prospective Plantings and Grain Stocks Report

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "A Summary of the USDA s Prospective Plantings and Grain Stocks Report"

Transcription

1 A Summary of the USDA s Prospective Plantings and Grain Stocks Report March 31, Aaron Smith and Chuck Danehower Department of Agricultural & Resource Economics University of Tennessee Extension

2 A Summary of the USDA s Prospective Plantings and Grain Stocks Report March 31, Aaron Smith and Chuck Danehower Department of Agricultural & Resource Economics, University of Tennessee Extension Introduction On Thursday, March 31,, the USDA released its annual Prospective Plantings Report ( and quarterly Grain Stocks Report ( Below is a summary of the reports, futures markets price reaction, and profitability update for corn, cotton, soybeans, and wheat in Tennessee. Prospective Plantings The major surprise on the Prospective Plantings Report was corn acreage increasing 6.4% from last year to 93.6 million acres (Table 1). Most pre-report estimates anticipated corn planted acres closer to million acres. Cotton acres were up 1 million acres from at 9.6 million acres. This was up about 500,000 acres from the NCC survey released in January. Soybean acres were down 0.5% from at 82.2 million acres, which was slightly lower than pre-report projections; however, given the price reaction to today s reports soybean planted acreage will likely increase. Estimated spring wheat acres were down 14% and winter wheat was down 9% from. Combined all wheat acres were estimated down 5 million acres from last year (Table 1). Table 1. Estimated Planted Acres in the U.S for Corn, Cotton, Soybeans, and Wheat, - U.S. (million acres) Corn Cotton Soybeans Wheat March % Change from 6.4% 11.4% -0.5% -9.3% March March March March Average Change from the March Estimate to Final Estimate ( ) Source: USDA-NASS

3 In Tennessee, estimated planted acreage was close to expectations. Cotton acreage shows a 51.6% increase from. Last year was an all-time low for cotton acreage planted in Tennessee. This was largely due to low prices and a wet spring that prevented cotton acreage planting in several west Tennessee counties. A rebound in cotton acreage was expected. Corn acres were expected to increase slightly as price ratios had tilted in favor of corn (this was prior to today s price reaction). Soybean acres in Tennessee were estimated down 5.7% at 1.65 million acres (Table 2). Final soybean acreage will depend on planting conditions, crop rotation, weed control, relative prices, input costs, and access to credit. However, given today s price reactions, it would not be surprising to see soybean acres increase thousand acres in Tennessee from the March estimate. Winter wheat acres were revised up 40,000 from the Winter Wheat Seedings Report released in January. Table 2. Estimated Planted Acres in Tennessee for Corn, Cotton, Soybeans, and Wheat, - Tennessee (million acres) Corn Cotton Soybeans Wheat March % Change from 7.7% 51.6% -5.7% -3.3% March March March March Average Change from the March Estimate to Final Estimate( ) Source: USDA-NASS Grain Stocks Report The other and perhaps more anticipated report released on March 31 was the quarterly Grain Stocks Report. Most analysts were anticipating stocks to rise over last March s estimate, but the question was by how much? Corn and wheat were close to the middle of pre-report estimates at 7.81 billion and 1.37 billion bushels, respectively. Soybeans were at the lower end of the prereport estimates at 1.53 billion bushels, perhaps indicating stronger demand, however, the estimate was still well within the anticipated range. At the end of the day, estimated stocks for all three commodities continued their upward trajectories of the past three years (Figures 1-3).

4 Figure 1. March 31 U.S. Corn Stocks, - Stocks (billion bushels) Figure 2. March 31 U.S. Soybean Stocks, - Stocks (billion bushels) Figure 3. March 31 U.S. Wheat Stocks, - Stocks (billion bushels)

5 It is important to note that while stocks for all three commodities are building, demand and the source of demand is very different (Figures 4-6). For corn, over the past 16 years increases in demand have been driven by domestic use. Over this time period, domestic corn consumption has increased on average by 0.30 billion bushels per year (Figure 4). Corn Exports have remained relatively flat. Compared to corn, soybeans have seen almost the exact opposite circumstances in demand. From -, soybean exports have increased, on average, by 0.05 billion bushels per year and domestic consumption has been reasonably flat, increasing billion bushels per year (Figure 5). Wheat use, domestic consumption and exports, were almost completely flat from -, indicating stagnant demand (Figure 6). How demand increases/or decreases over time is equally as important as changes in supplies (stocks). To illustrate this relationship, we take the estimated March 31 stocks for all three commodities and divide by annual total use (Figures 7-9). This is a somewhat crude stocks-touse ratio, but one that provides additional insight into today s report findings. Similar to the trend in stocks shown in Figures 1-3 we can see an increase in March 31 stocks-to-annual use ratio since. Corn and soybeans, while trending upward the past three years, are muted compared to rising March 31 stocks, due to increases in annual total use (Figures 7 and 8). On the other hand, wheat shows the highest March 31 stocks-to-use ratio over the 17 year interval (Figure 9). Futures Markets Price Reaction Corn: May futures closed down 15 ½ cents at $3.51 ½ with a trading range for the day of $3.47 ½ to $3.67 ¼. December futures closed down 15 ¼ cents at $3.68 ¾ with a trading range for the day of $3.64 ¾ to $3.83 ½. Cotton: May futures closed up 0.77 cents at with a trading range for the day of to December futures closed up 0.32 cents at with a trading range for the day of to Soybeans: May futures closed up 1 ¾ cents at $9.10 ¾ with a trading range for the day of $8.96 to $9.14. November futures closed up 1 ¾ cents at $9.24 ¾ with a trading range for the day of $9.10 to $9.27 ¾. Wheat: May futures closed up 9 ½ cents at $4.73 ½ with a trading range for the day of $4.55 ¼ to $4.75. July futures closed up 9 ¼ cents at $4.80 ¾ with a trading range for the day of $4.62 ¾ to $4.82 ¼. Corn was the big loser for the day as the 5.6 million increase in planted acreage was the dominant market mover. On the other hand, the reduction in spring wheat planted estimates provided some upward movement for wheat prices. Perhaps the most interesting aspect of these reports will be how prices move forward, as today we saw soybean and corn prices move in opposite directions, thus providing a change in their relative price ratios. On Wednesday, the harvest futures price ratio (soybeans:corn) was 2.4:1 at the close on Thursday it was 2.5:1. Is this enough to move acres into soybeans?

6 Figure 4. U.S. Corn Use and Linear Trends, - Billion Bushels y = 0.27x R² = 0.78 y = 0.30x R² = 0.93 y = -0.02x R² = 0.10 Exports Domestic Consumption Total Use Figure 5. U.S. Soybean Use and Linear Trends, - Billion Bushels y = 0.06x R² = 0.74 y = 0.008x R² = 0.13 y = 0.05x R² = 0.81 Exports Domestic Consumption Total Use Figure 6. U.S. Wheat Use and Linear Trends, - Billion Bushels y = x R² = y = 0.001x R² = y = x R² = 0.01 Exports Domestic Consumption Total Use

7 Figure 7. U.S. Corn: March 31 Stocks-to-Annual Use Ratio, - March 31 Stocks-to-Annual Use Ratio Figure 8. U.S. Soybean: March 31 Stocks-to-Annual Use Ratio, - March 31 Stocks-to-Annual Use Ratio Figure 9. U.S. Wheat: March 31 Stocks-to-Annual Use Ratio, - March 31 Stocks-to-Annual Use Ratio

8 Profitability Update The projected profitability outlook for the crop has been updated after the release of the March 31, USDA Prospective Plantings and Quarterly Grain Stocks reports. Yields used for nonirrigated estimates are a 5 year Tennessee state average year plugging in the state average projection of 160 bushels per acre for corn, 46 bushels per acre for soybeans, 1,035 pounds per acre cotton, and 67 bushels per acre wheat. Prices used for are an average of prices currently offered for Fall delivery. Prices for harvest are 9 cents lower for corn and 35 cents lower for milo since the March 9 th USDA report. Soybean prices are up 26 cents per bushel with wheat prices up 7 cents per bushel. Cotton prices based on cotton buyer s pricing have stayed the same. Returns over variable expenses and returns over variable expenses and land costs are positive for all crops except milo. However, when fixed costs for machinery and equipment and a $15 per acre management cost are added then returns are all negative. Producers will need to look closely at their plans for the crop and make adjustments where needed. Please contact your local County Extension office or Area Specialist Farm Management for assistance in developing your own budget or farm financial plan. This table below should be used as a guide as yields, prices, and expenses will vary among producers and locations. Expenses will vary among producers and production systems. A cotton price of 72 cents is being used in the profitability outlook. The price of 72 cents is made up of a cash price of cents and gin rebates (seed & hauling) of 7-8 cents. The cash price of cents is composed of a loan rate of 52 cents or 53 cents with a slight premium and a cent equity from the buyer. When prices are low, cotton is redeemed out of the marketing loan program at the Adjusted World Price (AWP). This effect helps create the loan option or equity price that producers receive. Currently, this price is in a cent range. Basically, this is a result of the way the cotton marketing loan program works. My observations and discussions with cotton buyers would indicate that if futures move above cents, then the prices to the producers would start to move up penny for penny. Producers should look at these returns as what could be if no adjustments are made in their operation and consider it a warning sign that adjustments will need to be made in to be sustainable. These estimates do not consider any USDA or crop insurance payments from the new farm bill. Please contact your local County Extension office or Area Specialist Farm Management for assistance in developing your own budget or farm financial plan. This table below should be used as a guide as yields, prices, and expenses will vary among producers and locations. Expenses will vary among producers and production systems. Cotton prices include revenue for cottonseed and hauling. For reference, in variable expenses below, fertilizer expense per acre is estimated as follows: Cotton - $ 105, Soybeans - $38, Corn - $135 (includes 170 units of N), Milo - $87, and Wheat/Soybeans - $101. Weed control costs with resistant weeds have also been difficult to estimate. These costs will vary greatly among producers and individual fields. Production costs are estimates based on the University of Tennessee Crop Budgets with adjustments made where needed. An adjustment was made in March in cotton weed control as one chemical in our budget is reportedly priced 40%

9 less than our budgeted cost. Depending on varieties, soybean costs could also be reduced but based on our budget, I have not done so at this time. Hopefully, we will see other costs reduced or possibly suitable generic products available. Please visit with your farm supplier on estimated cost in your area. Producers with owned land and or cash rent can use Returns Over Variable as a guide in decision making. Producers with share rent ground should use Returns Over Variable and Land Costs as a guide with their appropriate share rent calculated. A land cost of 25% of revenue minus 25% of crop insurance cost is used in the table as a guide or method of comparison and should not be construed as the appropriate rent for a particular area. Producers who are not making major equipment changes can use UT budgets and this table as a guide in developing their own cropping decision budgets. If equipment changes are being made, then a whole farm financial plan would be better suited as a decision aid. Estimated Returns Cotton Soybeans Corn Milo Wheat/Soybeans Yield 902 lbs. 42 bu. 140 bu. 90 bu. 67 bu./30 bu. Price (as of 3/31/16) $0.72 lb. $9.21 bu. $3.45 bu. $3.14 bu. $4.86 bu./$9.21 bu. Revenue $649 $387 $483 $283 $602 Variable Expenses $403 $262 $349 $232 $417 Returns Over Variable $246 $125 $134 $50 $190 Land Costs (25% of Revenue-25% crop insurance) $161 $94 $117 $70 $146 Returns Over Variable and Land Costs $86 $30 $17 -$20 $43 Fixed Costs Depreciation & interest on machinery $126 $62 $56 $62 $99 Returns Over Specified Costs -$40 -$32 -$39 -$82 -$55 Breakeven Price at Average Yield and Specified Cost $0.76 $9.98 $3.73 $4.05 $5.45/9.79

10 Net returns are still negative considering variable, fixed, land and irrigation expenses. Please note that in March fertilizer costs were reduced slightly and cotton variable costs were reduced to reflect lower weed control cost. Producers should look at these returns as what could be if no adjustments are made in their operation and consider it a warning sign that adjustments will need to be made in to be sustainable. The table below is an estimate of returns for crops under irrigation. Since irrigated yields are not as of yet kept separate in Tennessee, yields below are an estimate of irrigated yields. Irrigation fixed costs and energy costs will vary greatly among producers and systems. These projections include in variable expenses energy costs for irrigation of $21 per acre and $11 per acre of irrigation repairs and maintenance. Fixed costs of $88 per acre for irrigation equipment are used. Please contact your local County Extension office or Area Specialist Farm Management for assistance in developing your own budget or farm financial plan. This table below should be used as a guide as yields, prices, and expenses will vary among producers and locations. Expenses will vary among producers and production systems. Cotton prices include revenue for cottonseed and hauling. A cotton price of 72 cents is being used in the profitability outlook. The price of 72 cents is made up of a cash price of cents and gin rebates (seed & hauling) of 7-8 cents. The cash price of cents is composed of a loan rate of 52 cents or 53 cents with a slight premium and a cent equity from the buyer.. When prices are low, cotton is redeemed out of the marketing loan program at the Adjusted World Price (AWP). This is effect helps create the loan option or equity price that producers receive. Currently, this price is in a cent range. Basically, this is a result of the way the cotton marketing loan program works. My observations and discussions with cotton buyers would indicate that if futures move above cents, then the prices to the producers would start to move up penny for penny. For reference, in variable expenses below, fertilizer expense per acre is estimated as follows: Cotton - $109, Soybeans - $38, Corn - $172 (includes 225 units of N), Milo - $114, and Wheat/Soybeans - $101. Cost of production will continue to be adjusted as information becomes available. An adjustment was made in March in cotton weed control as one chemical in our budget is reportedly priced 40% less than our budgeted cost. Depending on varieties, soybean costs could also be reduced but based on our budget, I have not done so at this time. Hopefully, we will see other costs reduced or possibly suitable generic products available. Weed control costs with resistant weeds have also been difficult to estimate. These costs will vary greatly among producers and individual fields. Production costs are estimates based on the University of Tennessee Crop Budgets with adjustments made where needed. Please visit with your farm supplier on estimated cost in your area. Producers with owned land and or cash rent can use Returns Over Variable and Fixed IR Costs as a guide in decision making. Producers with share rent ground should use Returns Over Variable, Fixed IR Costs and Land Costs as a guide with their appropriate share rent calculated. A land cost of 25% of revenue minus 25% of crop insurance cost minus 25% of the irrigation equipment fixed cost is used in the table as a guide or method of comparison and should not be construed as the appropriate rent for a particular area. A management cost of $30 per acre is included in Fixed Costs management labor, depreciation & interest on machinery. This is an additional $15 above the dryland crop

11 management labor. Producers who are not making major equipment changes can use UT budgets and this table as a guide in developing their own cropping decision budgets. If equipment changes are being made, then a whole farm financial plan would be better suited as a decision aid. Estimated Returns Irrigation Cotton Soybeans Corn Milo Wheat/Soybeans Yield 1100 lbs. 60 bu. 190 bu. 130 bu. 67 bu./45 bu. Price (as of 3/31/16) $0.72 lb. $9.21 bu. $3.45 bu. $3.14 bu. $4.86 bu./$9.21 bu. Revenue $792 $553 $656 $408 $740 Variable Expenses( include energy cost) $459 $294 $429 $292 $444 Fixed Irrigation Costs per Acre $88 $88 $88 $88 $88 Returns Over Variable & Fixed IR Costs $246 $170 $139 $28 $208 Land Costs (25% of Revenue-25% crop insurance-25% fixed irrigation costs) Returns Over Variable, IR Fixed Cost and Land Costs Fixed Costs- management labor, depreciation & interest on machinery $174 $114 $138 $79 $159 $71 $56 $1 -$51 $49 $151 $91 $86 $84 $122 Returns Over Specified Costs -$80 -$35 -$87 -$135 -$73 Breakeven Price at Average Yield and Specified Cost $0.79 $9.56 $3.82 $4.13 $5.45/$9.98 Conclusions The March 31,, Prospective Plantings and Grain Stocks Reports provided further insight into the planting intentions of farmers for and the estimated carryover of stocks into the next marketing year. Stocks for corn, soybeans, and wheat continue to build which will likely

12 limit any dramatic price improvements, baring a major weather event. With the divergence of soybean and corn prices, as a result of these reports, it is very likely that we could see acres move from corn to soybeans. For, at current prices, profits will be difficult for Tennessee row crop producers to achieve.

July 10, USDA World Supply and Demand Estimates

July 10, USDA World Supply and Demand Estimates July 10, 2015 - World Supply and Demand Estimates Corn Projected 2015/16 U.S. feed grain supplies are lowered this month with reductions in corn beginning stocks and production. Corn beginning stocks for

More information

3.3 Real Returns Above Variable Costs

3.3 Real Returns Above Variable Costs 3.3 Real Returns Above Variable Costs Several factors can impact the returns above variable costs for crop producers. Over a long period of time, sustained increases in the growth rate for purchased inputs

More information

Missouri Soybean Economic Impact Report

Missouri Soybean Economic Impact Report Missouri Soybean Economic Report State Analysis March 2014 The following soybean economic impact values were estimated by Value Ag, LLC, as part of a Missouri Soybean Merchandising Council funded project.

More information

3.7 Implied Labor Hours

3.7 Implied Labor Hours 3.7 Implied Labor Hours USDA data for the period 1990 through 2011 is presented to describe the implied amount of labor that is used to produce an acre and unit of output (e.g., labor hours per bushel

More information

September 2016 Crop Market Update Public Policy Department Budget & Economic Analysis Team

September 2016 Crop Market Update Public Policy Department Budget & Economic Analysis Team September 2016 Crop Market Update Public Policy Department Budget & Economic Analysis Team U.S. and Foreign Stockpiles Remain Elevated John Newton, Ph.D., (202) 406-3729, jnewton@fb.org USDA s September

More information

Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016

Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016 CROP COSTS Department of Agricultural and Consumer Economics University of Illinois Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016 Department

More information

Research verification coordinators collaborate with Arkansas Division of Agriculture crop specialists to determine a typical production method for

Research verification coordinators collaborate with Arkansas Division of Agriculture crop specialists to determine a typical production method for 1 2 3 Research verification coordinators collaborate with Arkansas Division of Agriculture crop specialists to determine a typical production method for application in the crop enterprise budgets. 4 Whole

More information

CROP BUDGETS, ILLINOIS, 2015

CROP BUDGETS, ILLINOIS, 2015 CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2015 Department of Agricultural and Consumer Economics University of Illinois September 2015

More information

OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE

OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE 02.03.16 JEFF RODIBAUGH FIRST FARMERS BANK & TRUST POLL: 2016 CORN BELT SEED CONFERENCE 1. You believe there

More information

Crop Input and Technology Decisions: Risk Management. Gary Schnitkey University of Illinois

Crop Input and Technology Decisions: Risk Management. Gary Schnitkey University of Illinois Crop Input and Technology Decisions: Risk Management Gary Schnitkey University of Illinois Topics 1. General economic principles related to input choice 2. Corn versus soybean choice 3. Crop insurance

More information

January 7, 2014 1/10/2014. Genuine People. Creative Ideas. Valuable Results. Copyright Kennedy and Coe, LLC 2012 All rights reserved.

January 7, 2014 1/10/2014. Genuine People. Creative Ideas. Valuable Results. Copyright Kennedy and Coe, LLC 2012 All rights reserved. January 7, 2014 1 Alan Grafton University of Mississippi BBA Finance 1992 MBA University of Memphis 2004 United Agri Products 1995 2001 Ag Services of America 2001 2003 AgKnowledge 2003 2013 Kennedy &

More information

Evaluating Taking Prevented Planting Payments for Corn

Evaluating Taking Prevented Planting Payments for Corn May 30, 2013 Evaluating Taking Prevented Planting Payments for Corn Permalink URL http://farmdocdaily.illinois.edu/2013/05/evaluating-prevented-planting-corn.html Due to continuing wet weather, some farmers

More information

Third Quarter 2015 Earnings Conference Call. 21 August 2015

Third Quarter 2015 Earnings Conference Call. 21 August 2015 Third Quarter 2015 Earnings Conference Call 21 August 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the

More information

U.S. crop program fiscal costs: Revised estimates with updated participation information

U.S. crop program fiscal costs: Revised estimates with updated participation information U.S. crop program fiscal costs: Revised estimates with updated participation information June 2015 FAPRI MU Report #02 15 Providing objective analysis for 30 years www.fapri.missouri.edu Published by the

More information

Farmland Lease Analysis: Program Overview. Navigating the Farmland Lease Analysis program

Farmland Lease Analysis: Program Overview. Navigating the Farmland Lease Analysis program Farmland Lease Analysis: Program Overview The farmland lease analysis program is used to aid tenants and landlords in determining the returns and risks from different farmland leases. The program offers

More information

Grains and Oilseeds Outlook

Grains and Oilseeds Outlook United States Department of Agriculture Grains and Oilseeds Outlook Friday, February 26, 2016 www.usda.gov/oce/forum Agricultural Outlook Forum 2016 Released: Friday, February 26, 2016 GRAINS AND OILSEEDS

More information

Purdue Agricultural Economics Report

Purdue Agricultural Economics Report Purdue Agricultural Economics Report August 2013 Up Again: Indiana s Farmland Market in 2013 Craig Dobbins, Professor and Kim Cook, Research Associate While the 2012 Indiana crop suffered from the worst

More information

Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity

Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Recording Transactions in the Date Cash Journal Description Value Amount (bu., lb.,

More information

Crop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction

Crop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction Crop-Share and Cash Rent Lease Comparisons Version 1.6 Alan Miller and Craig L. Dobbins Spreadsheet can be found at http://www.agecon.purdue.edu/extension/pubs/farmland_values.asp Introduction This spreadsheet

More information

Establishing and Using a Farm Financial Record-Keeping System

Establishing and Using a Farm Financial Record-Keeping System PB 1540 Establishing and Using a Farm Financial Record-Keeping System Delton C. Gerloff, Associate Professor, Agricultural Economics Robert W. Holland Jr., Assistant Area Specialist - Farm Management For

More information

First Quarter 2015 Earnings Conference Call. 20 February 2015

First Quarter 2015 Earnings Conference Call. 20 February 2015 First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning

More information

Enterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University

Enterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University Enterprise Budgeting By: Rod Sharp and Dennis Kaan Colorado State University One of the most basic and important production decisions is choosing the combination of products or enterprises to produce.

More information

Negotiating New Lease Arrangements with the Transition to Direct Seed Intensive Cropping Systems

Negotiating New Lease Arrangements with the Transition to Direct Seed Intensive Cropping Systems Negotiating New Lease Arrangements with the Transition to Direct Seed Intensive Cropping Systems Clark F. Seavert Extension Economist Oregon State University Changes in agricultural production, technology

More information

Chesapeake Maryland Farm J. Hewlett and J. Parsons

Chesapeake Maryland Farm J. Hewlett and J. Parsons How Much Risk Is Right For You? Scenario Guide (December, 2013 #SG-11-09) Chesapeake Maryland Farm J. Hewlett and J. Parsons The Chesapeake Maryland Farm is representative of many of the corn/soybean/wheat

More information

The Supplementary Insurance Coverage Option: A New Risk Management Tool for Wyoming Producers

The Supplementary Insurance Coverage Option: A New Risk Management Tool for Wyoming Producers The Supplementary Insurance Coverage Option: A New Risk Management Tool for Wyoming Producers Agricultural Marketing Policy Center Linfield Hall P.O. Box 172920 Montana State University Bozeman, MT 59717-2920

More information

Grains and Oilseeds Outlook

Grains and Oilseeds Outlook United States Department of Agriculture Grains and Oilseeds Outlook Friday, February 20, 2015 www.usda.gov/oce/forum Agricultural Outlook Forum 2015 Released: Friday, February 20, 2015 GRAINS AND OILSEEDS

More information

AFBF Comparison of Senate and House Committee passed Farm Bills May 16, 2013

AFBF Comparison of Senate and House Committee passed Farm Bills May 16, 2013 CURRENT LAW SENATE AG COMMITTEE (S. 954) HOUSE AG COMMITTEE (HR 1947) Reported out of Committee 15 5 Reported out of Committee 36 10 Cost $979.7 billion over the 10 years before sequester reductions of

More information

Impact of Crop Insurance and Indemnity Payments on Cash Rent and Land Values. Michael Langemeier Center for Commercial Agriculture Purdue University

Impact of Crop Insurance and Indemnity Payments on Cash Rent and Land Values. Michael Langemeier Center for Commercial Agriculture Purdue University Impact of Crop Insurance and Indemnity Payments on Cash Rent and Land Values Michael Langemeier Center for Commercial Agriculture Purdue University Background The magnitude of the impact of crop insurance

More information

U.S. Farmland and other Real Assets. A Research Note

U.S. Farmland and other Real Assets. A Research Note U.S. Farmland and other Real Assets A Research Note Stephen A. Kenney Senior Investment Analyst January 2010 DISCLAIMERS AND NOTE ON FORWARD LOOKING STATEMENTS Hancock Agricultural Investment Group, a

More information

In 2010, many farmers will again choose between farm

In 2010, many farmers will again choose between farm 2010 The New ACRE Program: Costs and Effects By Brian C. Briggeman, Economist, Federal Reserve Bank of Kansas City and Jody Campiche, Assistant Professor, Oklahoma State University In 2010, many farmers

More information

CROP REVENUE COVERAGE INSURANCE PROVIDES ADDITIONAL RISK MANAGEMENT WHEAT ALTERNATIVES 1

CROP REVENUE COVERAGE INSURANCE PROVIDES ADDITIONAL RISK MANAGEMENT WHEAT ALTERNATIVES 1 Presented at the 1997 Missouri Commercial Agriculture Crop Institute CROP REVENUE COVERAGE INSURANCE PROVIDES ADDITIONAL RISK MANAGEMENT WHEAT ALTERNATIVES 1 Presented by: Art Barnaby Managing Risk With

More information

Cost of Production and Equitable Leasing Arrangements for Center Pivot Irrigated Corn in Central Nebraska

Cost of Production and Equitable Leasing Arrangements for Center Pivot Irrigated Corn in Central Nebraska Cost of Production and Equitable Leasing Arrangements for Center Pivot Irrigated Corn in Central Nebraska Daniel M. O Brien Extension Agricultural Economist K-State Research and Extension Northwest Research

More information

University of Illinois CROP BUDGETS. Consumer Economics

University of Illinois CROP BUDGETS. Consumer Economics CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2013 Department of Agricultural and Consumer Economics University of Illinois July 2013 Introduction

More information

Soybean Supply and Demand Forecast

Soybean Supply and Demand Forecast Soybean Supply and Demand Forecast U.S. soybean planted acreage is expected to increase 11.5 million acres over the forecast period. U.S. soybean yields are expected to increase 7 bushels per acre or an

More information

CROP BUDGETS, ILLINOIS, 2014

CROP BUDGETS, ILLINOIS, 2014 CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2014 Department of Agricultural and Consumer Economics University of Illinois June 2014 Introduction

More information

Agriculture & Business Management Notes...

Agriculture & Business Management Notes... Agriculture & Business Management Notes... Preparing and Analyzing a Cash Flow Statement Quick Notes... Cash Flow Statements summarize cash inflows and cash outflows over a period of time. Uses of a Cash

More information

University of Arkansas Division of Agriculture. Department of Agricultural Economics & Agribusiness

University of Arkansas Division of Agriculture. Department of Agricultural Economics & Agribusiness 2012 University of Arkansas Division of Agriculture Department of Agricultural Economics & Agribusiness Vuko Karov, Eric J. Wailes, and K. Bradley Watkins [Assessment of STAX (Stacked Income Protection

More information

Lower Rates Mean Lower Crop Insurance Cost 1

Lower Rates Mean Lower Crop Insurance Cost 1 Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial

More information

Title I Programs of the 2014 Farm Bill

Title I Programs of the 2014 Farm Bill Frequently Asked Questions: Title I Programs of the 2014 Farm Bill November 2014 Robin Reid G.A. Art Barnaby Mykel Taylor Extension Associate Extension Specialist Assistant Professor Kansas State University

More information

How Crop Insurance Works. The Basics

How Crop Insurance Works. The Basics How Crop Insurance Works The Basics Behind the Policy Federal Crop Insurance Corporation Board of Directors Approve Policies Policy changes General direction of program Risk Management Agency Administers

More information

Cash Flow Analysis Worksheets

Cash Flow Analysis Worksheets Cash Flow Analysis Worksheets Trent Teegerstrom Introduction This article describes the cash budget and analysis worksheets available for downloading at the Department of Agricultural and Resource Economics

More information

CORN IS GROWN ON MORE ACRES OF IOWA LAND THAN ANY OTHER CROP.

CORN IS GROWN ON MORE ACRES OF IOWA LAND THAN ANY OTHER CROP. CORN IS GROWN ON MORE ACRES OF IOWA LAND THAN ANY OTHER CROP. Planted acreage reached a high in 1981 with 14.4 million acres planted for all purposes and has hovered near 12.5 million acres since the early

More information

Section II: Problem Solving (200 points) KEY

Section II: Problem Solving (200 points) KEY ARE 495U Assignment 2-10 points Create 5 or more marketing plan questions that need to be answered related to FF. 2013 North Carolina FFA Farm Business Management Career Development Event Section II: Problem

More information

Third Quarter 2014 Earnings Conference Call. 13 August 2014

Third Quarter 2014 Earnings Conference Call. 13 August 2014 Third Quarter 2014 Earnings Conference Call 13 August 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the

More information

FCC Ag Economics: Farm Sector Health Drives Farm Equipment Sales

FCC Ag Economics: Farm Sector Health Drives Farm Equipment Sales FCC Ag Economics: Farm Sector Health Drives Farm Equipment Sales Fall 2015 FCC Ag Economics: Farm Sector Health Drives Farm Equipment Sales 1 Introduction Agriculture is always evolving. Average farm sizes

More information

Estimating Cash Rental Rates for Farmland

Estimating Cash Rental Rates for Farmland Estimating Cash Rental Rates for Farmland Tenant operators farm more than half of the crop land in Iowa. Moreover, nearly 70 percent of the rented crop land is operated under a cash lease. Cash leases

More information

2014 Farm Bill How does it affect you and your operation? Cotton STAX & SCO

2014 Farm Bill How does it affect you and your operation? Cotton STAX & SCO 2014 Farm Bill How does it affect you and your operation? Cotton STAX & SCO 1 2014 Farm Bill Cotton Chuck Danehower Extension Area Specialist Farm Management University of Tennessee Extension cdanehow@utk.edu

More information

BKD LENDING INSTITUTE AGRICULTURAL LENDING WITH A FOCUS ON GRAIN LENDING. Knowing where we have been, where we are now & where we may be going

BKD LENDING INSTITUTE AGRICULTURAL LENDING WITH A FOCUS ON GRAIN LENDING. Knowing where we have been, where we are now & where we may be going BKD LENDING INSTITUTE AGRICULTURAL LENDING WITH A FOCUS ON GRAIN LENDING Knowing where we have been, where we are now & where we may be going July 14, 2016 Teddy Girton Director Loan Review Services tgirton@bkd.com

More information

New Era Marketing 2015

New Era Marketing 2015 Know how. Know now. New Era Marketing 2015 It s Not A Game Anymore Using Seasonal Trends to improve returns University of Nebraska Lincoln Know how. Know now. Know how. Know now. The image cannot be displayed.

More information

Outlook for the 2013 U.S. Farm Economy

Outlook for the 2013 U.S. Farm Economy Outlook for the 213 U.S. Farm Economy Kevin Patrick Farm and Rural Business Branch Resource and Rural Economics Division Highlights Net farm income in 213 forecast: $128.2 billion Net cash income in 213

More information

Post-Freedom to Farm Shifts in Regional Production Patterns

Post-Freedom to Farm Shifts in Regional Production Patterns Post-Freedom to Farm Shifts in Regional Production Patterns AFPC Working Paper 01-6 David P. Anderson James W. Richardson Edward G. Smith Agricultural and Food Policy Center Department of Agricultural

More information

Both the House and Senate farm bills include two new supplemental crop insurance programs:

Both the House and Senate farm bills include two new supplemental crop insurance programs: Background Both the House and Senate farm bills include two new supplemental crop insurance programs: Supplemental Coverage Option (SCO) Stacked Income Protection Plan (STAX) for upland cotton Similar

More information

Tennessee Agricultural Production and Rural Infrastructure

Tennessee Agricultural Production and Rural Infrastructure Tennessee Trends in Agricultural Production and Infrastructure Highlights - In many states the percentage of the state population designated by the U.S. Census Bureau as living in rural areas has declined,

More information

FUTURES TRADERS GUIDE TO THE WASDE

FUTURES TRADERS GUIDE TO THE WASDE FUTURES TRADERS GUIDE TO THE WASDE Your Guide To Understanding The USDA World Agriculture Supply & Demand Estimates For Corn, Soybeans And Wheat By Craig & Drew Daniels 1.800.800.3840 What Is The WASDE?

More information

Protecting Your Investment- Canola Crop Insurance Options

Protecting Your Investment- Canola Crop Insurance Options Protecting Your Investment- Canola Crop Insurance Options December 2014 2015 Crop Year Supplemental Coverage Option The 2014 Farm Bill authorized the new Supplemental Coverage Option (SCO) endorsement

More information

298,320 3,041 107,825. Missouri Economic Research Brief FARM AND AGRIBUSINESS. Employment. Number of Agribusinesses.

298,320 3,041 107,825. Missouri Economic Research Brief FARM AND AGRIBUSINESS. Employment. Number of Agribusinesses. Missouri Economic Research Brief FARM AND AGRIBUSINESS Missouri s Farm and Agribusiness Missouri s farm and agribusiness sectors include crops, livestock, industries supporting farm production and farm-related

More information

World Production, Consumption, and Prices 2009/10 through 2014/15 projection

World Production, Consumption, and Prices 2009/10 through 2014/15 projection Agricultural Outlook Forum 2014 Presented Friday, February 21, 2014 THE WORLD AND UNITED STATES COTTON OUTLOOK James Johnson, Stephen MacDonald, Leslie Meyer, Bryan Norrington, and Carol Skelly U.S. Department

More information

Market-Driven Inventory System (MDIS)

Market-Driven Inventory System (MDIS) Market-Driven Over the last dozen years, low-price and high-price extremes revealed shortcomings of the U.S. agricultural commodity program. Under the current program when supply exceeds demand, crop prices

More information

Ukraine Crop Update. Spring Sowing Ahead of Average. CROP-UKR14-01 May 8, 2014

Ukraine Crop Update. Spring Sowing Ahead of Average. CROP-UKR14-01 May 8, 2014 May 8, 2014 Ukraine Crop Update Ukraine spring seeding is ahead of both last year and average having 6.6 million hectares planted by May 7. Ukraine s weather this spring has been favorable for both fieldwork

More information

Institute of Ag Professionals

Institute of Ag Professionals Institute of Ag Professionals Proceedings of the 2014 Crop Pest Management Shortcourse & Minnesota Crop Production Retailers Association Trade Show www.extension.umn.edu/agprofessionals Do not reproduce

More information

Costs and Returns on Dry-Land Wheat Farms

Costs and Returns on Dry-Land Wheat Farms Costs and Returns on Dry-Land Wheat Farms (Waico- Gautttif., QietfOti, 1952) D. Curtis Mumford Agricultural Experiment Station Oregon State College Corvallis Circular of Information 541 April 1954 Costs

More information

Implications for US Corn Availability under a Higher Blending Rate for Ethanol: How Much Corn Will Be Needed?

Implications for US Corn Availability under a Higher Blending Rate for Ethanol: How Much Corn Will Be Needed? Implications for US Corn Availability under a Higher Blending Rate for Ethanol: How Much Corn Will Be Needed? Summary Increasing the amount of biofuel that can be blended into gasoline will contribute

More information

Cost of Production. Cost of Production. Cost of Production!

Cost of Production. Cost of Production. Cost of Production! Cost of Production Versus Cost of Production And then there is, Cost of Production! Ken Bolton and Gary Frank Introduction September 2009 Historically business advisors have encouraged farm managers to

More information

The Farmer s Grain Marketing Guide

The Farmer s Grain Marketing Guide January 2004 ER04-01 The Farmer s Grain Marketing Guide Carl L. German Extension Specialist, Marketing 208 Townsend Hall University of Delaware Newark, Delaware 19717-1303 clgerman@udel.edu phone: 302-831-1317

More information

Market will worry about demand later Weekly Corn Review for May 11, 2016 By Bryce Knorr

Market will worry about demand later Weekly Corn Review for May 11, 2016 By Bryce Knorr Market will worry about demand later Weekly Corn Review for May 11, 2016 By Bryce Knorr USDA didn t do much to help the corn market in its May 10 reports other than give soybeans a big lift. That could

More information

2013 World Grain Outlook

2013 World Grain Outlook 2013 World Grain Outlook Presented by: John Roach February 18, 2013 Disclaimer: Futures/options trading involves substantial risk of loss and trading may not be suitable for all investors. You should fully

More information

A Business Newsletter for Agriculture. Vol. 12, No. 1 www.extension.iastate.edu/agdm. Energy agriculture - where s the nitrogen?

A Business Newsletter for Agriculture. Vol. 12, No. 1 www.extension.iastate.edu/agdm. Energy agriculture - where s the nitrogen? A Business Newsletter for Agriculture Vol. 12, No. 1 www.extension.iastate.edu/agdm November 2007 Energy agriculture - where s the nitrogen? by Don Hofstrand, value-added agriculture specialist, co-director

More information

Agricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast

Agricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast 1 Agricultural Production and Research in Heilongjiang Province, China Jiang Enchen Professor, Department of Agricultural Engineering, Northeast Agricultural University, Harbin, China. Post code: 150030

More information

Risk Management for Greenhouse and Nursery Growers in the United States

Risk Management for Greenhouse and Nursery Growers in the United States Risk Management for Greenhouse and Nursery Growers in the United States Dr. Robin G. Brumfield, Specialist in Farm Management Dr. Edouard K. Mafoua, Research Associate in Agricultural Economics Rutgers,

More information

Determining Equitable Crop Share or Cash Rental Arrangements Using the KSU-Lease Spreadsheet

Determining Equitable Crop Share or Cash Rental Arrangements Using the KSU-Lease Spreadsheet Determining Equitable Crop Share or Cash Rental Arrangements Using the KSU-Lease Spreadsheet November, 2003 Kevin Dhuyvetter, K-State Ag. Economics (785-532-3527; kcd@ksu.edu) Terry Kastens, K-State Ag.

More information

Abstract. In this paper, we attempt to establish a relationship between oil prices and the supply of

Abstract. In this paper, we attempt to establish a relationship between oil prices and the supply of The Effect of Oil Prices on the Domestic Supply of Corn: An Econometric Analysis Daniel Blanchard, Saloni Sharma, Abbas Raza April 2015 Georgia Institute of Technology Abstract In this paper, we attempt

More information

Ethanol Usage Projections & Corn Balance Sheet (mil. bu.)

Ethanol Usage Projections & Corn Balance Sheet (mil. bu.) Ethanol Usage Projections & Corn Balance Sheet (mil. bu.) Updated 12/21/215 Historic Est. Prelim. Proj. 216-17 Year: (production/marketing) 1/ 211-12 212-13 213-14 214-15 215-16 Low Med. 4 High Yield (bu.

More information

this section shall not count toward pay limits under the 2014 Farm Bill limits. (Section 1119)

this section shall not count toward pay limits under the 2014 Farm Bill limits. (Section 1119) Title I Commodities (1) Repeal of Direct Payments Section 1101 of the House bill repeals direct payments effective with the 2014 crop year. The section continues direct payments for the 2013 crop year

More information

Strawberry Industry Overview and Outlook. Feng Wu Research Associate Gulf Coast Research and Education Center University of Florida fengwu@ufl.

Strawberry Industry Overview and Outlook. Feng Wu Research Associate Gulf Coast Research and Education Center University of Florida fengwu@ufl. Strawberry Industry Overview and Outlook Feng Wu Research Associate Gulf Coast Research and Education Center University of Florida fengwu@ufl.edu Zhengfei Guan Assistant Professor Gulf Coast Research and

More information

FIFTEEN LARGEST CORN IMPORTING. FIFTEEN LARGEST SOYBEAN PRODUCING COUNTRIES est.

FIFTEEN LARGEST CORN IMPORTING. FIFTEEN LARGEST SOYBEAN PRODUCING COUNTRIES est. FIFTEEN LARGEST CORN IMPORTING FIFTEEN LARGEST CORN PRODUCING COUNTRIES - 2011 est. COUNTRIES - 2011 est. (Marketing year - thousands of hectares, tons per hectare, and thousands of metric tons) (Marketing

More information

St John Site, No-Till

St John Site, No-Till CSANR-09-03 December 2009 St John Site, No-Till Photo: Terry Day 2009 Crop Rotation Budgets for 15" to 18" Precipitation Zone Dryland Grain Producing Region of the NW Wheat & Range Region Climate Friendly

More information

Farm Sector Income & Finances 2015 Outlook. By Ryan Kuhns and Kevin Patrick Economics Research Service, USDA

Farm Sector Income & Finances 2015 Outlook. By Ryan Kuhns and Kevin Patrick Economics Research Service, USDA Farm Sector Income & Finances 2015 Outlook By Ryan Kuhns and Kevin Patrick Economics Research Service, USDA Net cash and net farm income forecast below 10-year moving average for first time since 2009

More information

Chapter Five: Risk Management and Commodity Markets

Chapter Five: Risk Management and Commodity Markets Chapter Five: Risk Management and Commodity Markets All business firms face risk; agricultural businesses more than most. Temperature and precipitation are largely beyond anyone s control, yet these factors

More information

JOINT EXPLANATORY STATEMENT OF THE COMMITTEE OF CONFERENCE

JOINT EXPLANATORY STATEMENT OF THE COMMITTEE OF CONFERENCE JOINT EXPLANATORY STATEMENT OF THE COMMITTEE OF CONFERENCE The managers on the part of the House and the Senate at the conference on the disagreeing votes of the two Houses on the amendment of the House

More information

Repayment Capacity Analysis

Repayment Capacity Analysis Repayment Capacity Analysis With this program, the user can estimate the cash needs required to meet living, debt, and investment payments plus evaluate the risks and returns for seven different types

More information

AGRICULTURAL SCIENCES Vol. II - Crop Production Capacity In North America - G.K. Pompelli CROP PRODUCTION CAPACITY IN NORTH AMERICA

AGRICULTURAL SCIENCES Vol. II - Crop Production Capacity In North America - G.K. Pompelli CROP PRODUCTION CAPACITY IN NORTH AMERICA CROP PRODUCTION CAPACITY IN NORTH AMERICA G.K. Pompelli Economic Research Service, U. S. Department of Agriculture, USA Keywords: Supply, policy, yields. Contents 1. Introduction 2. Past Trends in Demand

More information

How much financing will your farm business

How much financing will your farm business Twelve Steps to Ag Decision Maker Cash Flow Budgeting File C3-15 How much financing will your farm business require this year? When will money be needed and from where will it come? A little advance planning

More information

Line 1b. In 2011, he sold steers he had bought for resale. He enters sales of $13,596. This amount is also written on the total line 1c.

Line 1b. In 2011, he sold steers he had bought for resale. He enters sales of $13,596. This amount is also written on the total line 1c. Schedule F (Form 1040), Profit or Loss From Farming Note. Schedule F has numerous changes for 2011. In addition, there are a number of lines that the IRS has decided not to use in 2011, but appear on the

More information

We have seen in the How

We have seen in the How : Examples Using Hedging, Forward Contracting, Crop Insurance, and Revenue Insurance To what extent can hedging, forward contracting, and crop and revenue insurance reduce uncertainty within the year (intrayear)

More information

Potential Farm-Level Impacts of Proposed FQPA Implementation: The Tennessee Case 1,2

Potential Farm-Level Impacts of Proposed FQPA Implementation: The Tennessee Case 1,2 Agricultural Policy Analysis Center The University of Tennessee 310 Morgan Hall Knoxville, TN 37901-1071 Phone (423) 974-7407 FAX (423) 974-7298 www.apacweb.ag.utk.edu Potential Farm-Level Impacts of Proposed

More information

Costs to Produce Hogs in IllinoisC2007

Costs to Produce Hogs in IllinoisC2007 Costs to Produce Hogs in IllinoisC2007 University of Illinois Farm Business Management Resources FBM-0150 Costs to Produce Hogs in IllinoisC2007 Dale H. Lattz Extension Specialist, Farm Management Department

More information

Contents. Acknowledgements... iv. Source of Data...v

Contents. Acknowledgements... iv. Source of Data...v Kentucky Farm Business Management Program Annual Summary Data: Kentucky Grain Farms - 2011 Agricultural Economics Extension No. 2012-17 June 2012 By: Amanda R. Jenkins Michael C. Forsythe University of

More information

An Analysis of a Market-Driven Inventory System (MDIS)

An Analysis of a Market-Driven Inventory System (MDIS) An Analysis of a Market-Driven Inventory System (MDIS) Harwood D. Schaffer, Research Assistant Professor Chad Hellwinckel, Research Assistant Professor Daryll E. Ray, Professor and Co-Director Daniel G.

More information

Kansas Crop Planting Guide

Kansas Crop Planting Guide Kansas Crop Planting Guide Kansas is agronomically rich, with diverse soils and growing conditions. The average number of freeze-free days ranges from 150 in the northwest to 200 in southeastern Kansas.

More information

SOURCES AND USES OF FUNDS ON KFMA FARMS

SOURCES AND USES OF FUNDS ON KFMA FARMS KANSAS FARM MANAGEMENT ASSOCIATION Your Farm - Your Information - Your Decision N E W S L E T T E R Volume 6, Issue 3 March 2012 SOURCES AND USES OF FUNDS ON KFMA FARMS A flow of funds report, often referred

More information

The Farm Bill Down in the Weeds Numbers

The Farm Bill Down in the Weeds Numbers Disclaimer The Farm Bill Down in the Weeds Numbers by Dr. G. Art Barnaby, Jr. Professor, Agricultural Economics. Kansas State University KSU Presentation Spring, 2014 Email: barnaby@ksu.edu Phone 78531515

More information

FCStone Grain Recap July 9, 2015

FCStone Grain Recap July 9, 2015 CORN: Values higher throughout the day on heavy volume as traders anticipate USDA s Friday S&D update and speculate on US crop problems. Weekly export sales of 535,000 tons vs 363,000 tons of old crop

More information

Principles of Hedging with Futures

Principles of Hedging with Futures MARKETING & UTILIZATION Cooperative Extension Service Purdue University West Lafayette, IN 47907 NCH-47 Principles of Hedging with Futures Chris Hurt, Purdue University Robert N. Wisner, Iowa State University

More information

The Impact of Alternative Farm Bill Designs on the Aggregate Distribution of Farm Program Payments. Keith H. Coble and Barry J.

The Impact of Alternative Farm Bill Designs on the Aggregate Distribution of Farm Program Payments. Keith H. Coble and Barry J. The Impact of Alternative Farm Bill Designs on the Aggregate Distribution of Farm Program Payments Keith H. Coble and Barry J. Barnett Abstract Several 2007 farm bill proposals focused on reforming commodity

More information

Federal Crop Insurance: The Basics

Federal Crop Insurance: The Basics Federal Crop Insurance: The Basics Presented by Shawn Wade Director of Communications Plains Cotton Growers, Inc. 4517 West Loop 289 Lubbock, TX 79414 WWW.PLAINSCOTTON.ORG Why Federal Crop Insurance? Every

More information

Presentation overview

Presentation overview U.S. Ethanol Expansion: How the Agricultural Sector Adjusts & Challenges to Future Expansion Paul Westcott U.S. Department of Agriculture Economic Research Service AAEA Annual Meeting Orlando, Florida

More information

Group Risk Income Protection Plan and Group Risk Plans added in New Kansas Counties for 2005 1 Updated 3/12/05

Group Risk Income Protection Plan and Group Risk Plans added in New Kansas Counties for 2005 1 Updated 3/12/05 Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial

More information

CONDUCTING A COST ANALYSIS

CONDUCTING A COST ANALYSIS CONDUCTING A COST ANALYSIS Jennie S. Popp Department of Agricultural Economics & Agribusiness University of Arkansas Fayetteville, AR 72701 George Westberry, Retired Department of Agricultural & Applied

More information

Grain Stocks Estimates: Can Anything Explain the Market Surprises of Recent Years? Scott H. Irwin

Grain Stocks Estimates: Can Anything Explain the Market Surprises of Recent Years? Scott H. Irwin Grain Stocks Estimates: Can Anything Explain the Market Surprises of Recent Years? Scott H. Irwin http://nationalhogfarmer.com/weekly-preview/1004-corn-controversies-hog-market http://online.wsj.com/news/articles/sb10001424052970203752604576641561657796544

More information

Impact of Fuel Price Increases on Texas Crops

Impact of Fuel Price Increases on Texas Crops Impact of Fuel Price Increases on Texas Crops Chris R. Eggerman Research Assistant Department of Agricultural Economics Texas A&M University College Station, Texas 77843-2124 creggerman@ag.tamu.edu James

More information