Purdue Commercial AgCast
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.

Ag Economy Barometer Rises to Record High On Improving Financial Conditions

Ag Economy Barometer Rises to Record High On Improving Financial Conditions

November 3, 2020

Farmer sentiment hit a new record high in October as the Purdue University-CME Group Ag Economy Barometer climbed to a reading of 183, a 27-point increase compared to September. The reading easily eclipsed the previous record high set back in February, before the pandemic’s onset. Purdue ag economists James Mintert and Michael Langemeier review the results and give some insight into the October 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. The full report is available at https://purdue.ag/agbarometer.

Farmer Adoption of Enhanced Conservation

Farmer Adoption of Enhanced Conservation

October 28, 2020

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.

October Corn & Soybean Outlook Update

October Corn & Soybean Outlook Update

October 12, 2020

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.

Ag Barometer Rises as Crop Prices Rally and USDA Announces CFAP 2

Ag Barometer Rises as Crop Prices Rally and USDA Announces CFAP 2

October 6, 2020

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.

Farm Succession: Human Resources for Transition Planning

Farm Succession: Human Resources for Transition Planning

September 30, 2020

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.

Understanding USDA Farm Income Forecasts

Understanding USDA Farm Income Forecasts

September 23, 2020

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.

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