What are and what drives the adoption of "enhanced conservation practices" on the farm? In this episode, Purdue agricultural economists Allan Gray and Brady Brewer discuss their recent research that examines the adoption practices of enhanced conservation practices. This study consisted of focus groups with farmers and agricultural retailers across the Midwest. Dr. Gray and Dr. Brewer discuss what constitutes an enhanced conservation practice according to the study participants along with what drives producer adoption and how retailers view their role in helping farmers analyze what practices they may benefit from adopting. Find out more about the research discussed at https://purdue.ag/3kxkdeC.
Purdue agricultural economists Michael Langemeier and James Mintert discussed United States Department of Agriculture’s October Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. This podcast provides information released in the USDA reports and updated profitability estimates and marketing strategies for both corn and soybeans. Find more information on this outlook by visiting the Purdue Center for Commercial Agriculture's website at https://purdue.ag/webinar100920.
U.S. agricultural producers became more optimistic again in September as the Purdue University-CME Group Ag Economy Barometer climbed to 156, the highest reading for the index since the pandemic began last winter and 12 points higher than one-month earlier. Purdue ag economists James Mintert and Michael Langemeier review the results and give some insight into the September 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. The full report is available at https://purdue.ag/agbarometer.
Adding to our series about Farm Transition Planning, in this fourth episode, we focus on the human resource side of succession planning. Keeping the farm business running between generations and management tiers can be difficult, but job descriptions and keeping open communication is key. Purdue agricultural economists Brady Brewer and members of the Purdue Farm Transition team Jenna Nees, Denise Schroeder, and Kyle Weaver discuss the importance of having a strong HR strategy and some common issues that many farms face as they transition management roles. Find the companion episodes in this series at https://purdue.ag/34buLZR.
The United States Department of Agriculture (USDA) releases a number of reports throughout the year. In this episode, Purdue agricultural economists Todd Kuethe and Brady Brewer discuss the latest September release of the USDA Farm Income Forecast report. Each year, USDA forecasts farm income in February and then releases four additional updates throughout the year as more data becomes available. This Purdue Commercial AgCast episode discusses the accuracy and bias of these forecasts along with how to interpret the adjustments.
Purdue agricultural economists Michael Langemeier and James Mintert discussed USDA’s September Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on September 11. The reports provided USDA’s first objective yield estimates for the 2020 corn and soybean crops. The webinar includes an overview of the information on the two reports along with a discussion regarding implications of the changes for the corn and soybean outlook in addition to a review of the likely changes in corn and soybean profitability and what that portends for 2021 cash rental rates. Find more information on this outlook by visiting the Purdue Center for Commercial Agriculture's website at https://purdue.ag/webinar091120.
Farmer sentiment improved markedly in August as the Purdue University-CME Group Ag Economy Barometer rose to a reading of 144, 26 points higher than a month earlier. Purdue ag economists James Mintert and Michael Langemeier review the results from the August 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. The barometer and its two sub-indices all posted their most positive readings since February 2020 when record highs were established and before the pandemic began. The full report is available at https://purdue.ag/agbarometer.
Purdue University agricultural economist Brady Brewer is joined by Purdue Agricultural Economics graduate student Chad Fiechter and Kansas State agricultural economist Jennifer Ifft to discuss issues surrounding vendor and trade credit in the agricultural finance sector. There has been a lot of growth in farmer use of vendor and trade credit as terms and conditions for this credit can sometimes be cheaper for farmers. This episode focuses on what this credit means for farmers and what pitfalls there may be for a producer that is thinking about using this type of financing for the purchase of equipment or inputs.
Adding to our series about Farm Transition Planning, in this third episode, we discuss how to evaluate if the farm can add an employee. As a farm expands, it is important to evaluate the feasibility of adding an operator and/or hired employees as well as the feasibility of purchasing or renting additional land, and machinery and equipment. Purdue agricultural economists Michael Langemeier and Brady Brewer discuss two critical factors: gross revenue and profitability. Find the companion episodes in this series, as well as the article discussed in this episode at https://purdue.ag/3aHRbox.
Purdue University agricultural economists Todd Kuethe, James Mintert, and Michael Langemeier breakdown the results from the Purdue Farmland Values and Cash Rents Survey conducted in June 2020 and compared that with USDA’s recent Land Values report. The annual Purdue Farmland Value and Cash Rent Survey is conducted by the department of agricultural economics and produced through the cooperation of numerous professionals knowledgeable of Indiana’s farmland market. These professionals provided an estimate of the market value for bare poor, average, and top quality farmland in December 2019, June 2020, and a forecast value for December 2020.