Purdue Commercial AgCast

Forecasting Eastern Corn Belt Corn & Soybean Basis

On this episode, Purdue ag economist Nathan Thompson joins Jim Mintert to discuss corn and soybean basis in the Eastern Corn Belt. Learn about the Crop Basis Tool, which is updated weekly, to forecast basis and provides regional corn and soybean basis information for Illinois, Indiana, Michigan and Ohio. They conclude with a look ahead to 2020 corn and soybean basis and provide marketing suggestions for both old-crop still in storage as well as new-crop corn and soybeans. Find more on the Crop Basis Tool at https://purdue.ag/cropbasis.

Farmer Sentiment Rebounds Amidst Ongoing COVID-19 Concerns

Farmer sentiment improved for the second month in a row, rebounding from sharp declines that took place in both March and April. Purdue ag economist James Mintert reviews the results from the June 2020 Ag Economy Barometer, a nationwide monthly survey of 400 ag producers. The improvement in farmer sentiment left the Ag Economy Barometer 7 percent below one year earlier, while the Index of Future Expectations was still 10 percent below its June 2019 level. The Index of Current Conditions, however, was two percent higher than in June 2019, likely reflecting considerably improved spring planting conditions throughout much of the nation, in addition to support from USDA’s Coronavirus Food Assistance Program (CFAP). The full report is available at https://purdue.ag/agbarometer.

Cover Crop Profitability

Utilizing cover crop treatments can have significant agronomic benefits for a farm. However, implementing this technology introduces additional costs. On this episode, Purdue agricultural economists Brady Brewer and Ph.D. student, Megan Hughes, evaluate the relationship between applied nitrogen and corn yield, and how this relationship is impacted by introducing three different species of cover crops: annual ryegrass, cereal rye, and an oat/radish blend.

The article referenced in this episode can be found at https://purdue.ag/covercropprofit.

Farm Succession: Transition Planning

Maria Marshall, professor and director of Purdue's Institute for Family Business, joins Brady Brewer to discuss farm succession planning. They answer why it's important to start planning both a management and an ownership transfer ahead of time, who to have on your team of advisors, and the things you can do to start to prepare. The resources discussed in this episode can be found at the Purdue Institute for Family Business, https://purdue.ag/fambiz.  

Data and Precision Ag Usage

There is a lot of talk about “big data” in agriculture these days. The farm of the future is said to use multispectral imagery, soil and micro-climate sensors, equipment telematics data, and GPS to drive yield-enhancing decisions. Purdue ag economists, Nate Delay joins Brady Brewer to discuss how farms actually collect, manage, and analyze data during today's episode. Find more information on farm data usage at https://purdue.ag/farm-data-usage.

Ag Outlook Following USDA June World Ag Supply and Demand Estimates

Purdue agricultural economists Michael Langemeier and James Mintert provide an updated ag outlook, which includes information from USDA’s June World Ag Supply & Demand (WASDE) report along with updated profitability estimates for corn and soybeans. The podcast also addressed questions regarding eligibility for and assistance provided by USDA's CFAP program.

COVID-19 Continues to Impact Farmer Sentiment; Majority Indicate Economic Assistance Bill Necessary

Farmer sentiment improved slightly in May after falling sharply in both March and April. Purdue ag economists James Mintert and Michael Langemeier review the results from the May 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. The Purdue University-CME Group Ag Economy Barometer reading in May was 103; the 7 points improvement from April left the gauge of farmer sentiment nearly 40 percent below its February peak of 168. The full report is available at https://purdue.ag/agbarometer.

Coronavirus Food Assistance Program (CFAP) Application Details

Beginning May 26th, USDA's Farm Service Agency is accepting applications for the Coronavirus Food Assistance Program (CFAP) from producers who have suffered losses. Indiana FSA Director Steve Brown and staff join Jim Mintert for a discussion on eligibility requirements, payment rates and application details of the 2020 CFAP program. Find more information on this program at https://purdue.ag/CFAP.

Farmland Values in Today's Market

Purdue agricultural economists Brady Brewer and Todd Kuethe discuss the farmland market during today's episode. With the COVID-19 pandemic and the unprecedented year 2020 is presenting, Todd talks about what has been happening in farmland pricing, sales, policy, and interest rates. He discusses where he thinks the market is headed and may look like over the next 3-5 years. 

Find more information on farmland and cash rents at https://purdue.edu/commercialag.

May 2020 Ag Outlook

Purdue agricultural economists Michael Langemeier and James Mintert provide updated information from USDA’s May World Ag Supply & Demand Estimates (WASDE) release along with updated profitability estimates for corn and soybeans as a result of the COVID-19 global pandemic.