Purdue Commercial AgCast
Farm Succession: Business Governance for Transition Planning

Farm Succession: Business Governance for Transition Planning

January 26, 2021

Adding on to our series about Farm Transition Planning, in this sixth episode, we focus on the importance of governance in a farm business. Having policies on who's in power, how decisions are made, and how to hold accountability among team members (especially when it comes to family) makes running a farm business easier. Purdue agricultural economists Brady Brewer and members of the Purdue Farm Transition team Renee Wiatt and Dr. Maria Marshall discuss the impact of governance in farm transition planning and give examples of decisions where it's important to have policies in place (in-laws, prenuptial, social media, employment and compensation). Find the rest of the episodes in this series at https://purdue.ag/3a5jXQb and more information on farm succession planning on the Purdue Institute for Family Business' YouTube channel.

2021 Farm Bill Decisions for Crop Producers

2021 Farm Bill Decisions for Crop Producers

January 21, 2021

Crop producers need to make their 2021 farm program choices at their local Farm Service Agency (FSA) office (or online) by March 15, 2021. Producers have the option of choosing either the Agriculture Risk Coverage (ARC) or the Price Loss Coverage (PLC) program. Purdue agricultural economists Michael Langemeier and James Mintert review how the most commonly chosen program options during the last sign-up period played out for the 2019 crop and are likely to play out for the 2020 crop. They conclude with a discussion about how to go about making your 2021 program elections. Find the accompanying pdf document of this discussion at http://purdue.ag/2021farmbilldecisions.

January Corn & Soybean Outlook Update

January Corn & Soybean Outlook Update

January 15, 2021

Purdue ag economists Michael Langemeier, Nathanael Thompson and James Mintert discussed United States Department of Agriculture’s (USDA) January Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. The Purdue team reviewed information released in the USDA reports and looked at what the year ahead may have in store during the webinar. Carryover corn and soybean supplies have tightened considerably, and concerns exist regarding the size of South America's harvest. Find more information on the current crop outlook and farm economy by visiting the Purdue Center for Commercial Agriculture's website at https://purdue.ag/webinar011321.

Farmer Sentiment Rises As Income Prospects Improve, Concerns About Key Policy Issues Remain

Farmer Sentiment Rises As Income Prospects Improve, Concerns About Key Policy Issues Remain

January 5, 2021

Farmer sentiment improved modestly in December as the Purdue University-CME Group Ag Economy Barometer rose to a reading of 174, up 7 points from November. Both of the barometer’s sub-indices, the Index of Current Conditions and the Index of Future Expectations, were higher in December than in November although the current conditions improvement was three-times the size of the future expectations increase. Purdue ag economists James Mintert and Michael Langemeier review the results and give some insight into the December 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. The full report is available at https://purdue.ag/agbarometer.

Farm Succession: Conflict Management for Transition Planning

Farm Succession: Conflict Management for Transition Planning

December 18, 2020

In this fifth episode of our series about Farm Transition Planning, we focus on conflict management – what is conflict, what causes it, how do we handle it within a farming business to come to a resolution. Purdue agricultural economists Brady Brewer and members of the Purdue Farm Transition team Renee Wiatt, Dr. Maria Marshall and Heather Caldwell discuss the levels and sources of conflict within today’s farm businesses. Working together as a team, possibly across generations of families, the team reviews how to resolve conflict and not avoid it. Find the companion episodes in this series at https://purdue.ag/2WzLZN3 and the YouTube channel on farm succession planning.

December Corn & Soybean Outlook Update

December Corn & Soybean Outlook Update

December 15, 2020

In this episode, Purdue agricultural economists Michael Langemeier, Nathanael Thompson, and James Mintert discussed USDA’s December Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. As the end of the year is nearing, the Purdue team reviews information released in the USDA reports and looks ahead at what next year may have in store regarding potential profitability estimates for corn and soybeans. Find more information on the current crop outlook and farm economy by visiting the Purdue Center for Commercial Agriculture's website at https://purdue.ag/webinar121120.

December 2020: USDA Farm Income Forecast Update

December 2020: USDA Farm Income Forecast Update

December 9, 2020

In this episode, Purdue agricultural economists James Mintert and Brady Brewer discuss the latest December release of the USDA Farm Income Forecast report. Each year, United States Department of Agriculture (USDA) forecasts farm income in February and then releases additional updates throughout the year as more data becomes available. This Purdue Commercial AgCast episode discusses the latest updates to the 2020 forecast released by USDA on December 2nd. In an earlier episode, we share more about how to interpret the adjustments - find that episode at 'Understanding USDA Farm Income Forecasts'.

Farmer Sentiment Pulls Back Post-Election: Regulation, Trade, and Taxes Rated As Top Concerns

Farmer Sentiment Pulls Back Post-Election: Regulation, Trade, and Taxes Rated As Top Concerns

December 1, 2020

U.S. farmers' sentiment weakened following the November 2020 elections, as the Purdue University-CME Group Ag Economy Barometer fell 16 points from a month earlier to a reading of 167. The decline in the Ag Economy Barometer was the result of weakened expectations for the future on the part of agricultural producers. Purdue ag economists James Mintert and Michael Langemeier review the results and give their insight into the November 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 agricultural producers. The full report is available at https://purdue.ag/agbarometer.

Crop Cost and Returns

Crop Cost and Returns

November 24, 2020

The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. Purdue ag economists Michael Langemeier and Brady Brewer discuss the latest numbers from the Purdue Center for Commercial Agriculture's decision tool along with tips on how to use this tool to make farm operating decisions. The guide tool discussed in this episode can be accessed and downloaded at https://purdue.ag/budget2021.

November Update on the Crop Outlook

November Update on the Crop Outlook

November 12, 2020

On this episode, Purdue agricultural economists Nathanael Thompson and James Mintert discussed USDA’s November Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. They provide updates on key changes in USDA's corn and soybean balance sheet, implications on the ag trade outlook and marketing strategies, and updated potential profitability estimates for 2021. Find more information on the current crop outlook by visiting the Purdue Center for Commercial Agriculture's website at https://purdue.ag/webinar111120.

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