Purdue Commercial AgCast

USDA Farm Income Forecast, August Update

Join us in this episode as we dive into the latest USDA farm income forecast released in August 2023. Discover the factors behind a notable 23% drop in net farm income and gain insights into the impact on various commodities, from corn and soybeans to wheat, and even cow-calf operations. Stay informed about how the impact of rising inflation and increased farm input prices are influencing breakevens and farmland values by tuning into this enlightening discussion.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/AgCast145.

Ag Barometer Insight: August 2023 Survey Results

Producer sentiment was notably lower in August, as the Purdue University/CME Group Ag Economy Barometer index dipped 8 points to a reading of 115. This month’s decline was fueled by producers’ weaker perception of current conditions both on their farms and in U.S. agriculture. The Current Conditions Index fell 13 points to a reading of 108. The Future Expectations Index also declined, down 5 points in August to a reading of 119. This month’s Ag Economy Barometer survey was conducted from August 14-18, 2023.

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the August 2023 Ag Economy Barometer survey. The full report is available at https://purdue.ag/agbarometer.

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.

Financing Amid Rate Ripples, an Ag Credit Update

Discover how interest rates impact farming decisions, machinery choices, and the value of farmland. In this ag credit update podcast, Purdue ag economists Brady Brewer and Michael Langemeier discuss recent inflation trends, interest rate trajectories, loan markets and the ripple effects at the farm. Projections from producers on the latest Purdue University/CME Group Ag Economy Barometer don't line up with policy makers at the Federal Reserve Open Market Committee (FOMC) on where we're headed for 2024. So where are interest rates going?

Tune in to stay ahead of the financial currents affecting agriculture. Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/AgCast143. 

(Part 2) Indiana Farmland Cash Rental Rates 2023 Update

Purdue ag economists Todd Kuethe, James Mintert and Michael Langemeier discuss cash rental rates for Indiana farmland in this, the second of two episodes discussing the 2023 Purdue Farmland Values and Cash Rents Survey results. Each June, the department of agricultural economics surveys knowledgeable professionals regarding Indiana's farmland and cash rental market. The 2023 survey results confirm that, statewide, average cash rental rates for Indiana farmland rose about 2% above 2022's rates. However, changes in rates across Indiana's 6 regions were not uniform with rental rates in some regions and for some land quality types actually declining.

To learn more about Indiana's 2023 farmland values, you can listen to the first of two podcasts in this series for a wide ranging discussion on Indiana farmland values with professors Kuethe, Langemeier and Mintert.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast142.

New! You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/_r5ZQej9Wvg to subscribe and watch.

(Part 1) Indiana Farmland Values 2023 Update

Purdue ag economists Todd Kuethe, James Mintert and Michael Langemeier discuss Indiana farmland values on this, the first of two episodes discussing the 2023 Purdue Farmland Values and Cash Rents Survey results. Each June, the department of agricultural economics surveys knowledgeable professionals regarding Indiana's farmland and cash rental market. The 2023 survey results confirm that the average value for Indiana farmland hit a new record high this summer. Growth in values, however, was relatively modest compared to the record high appreciation observed in 2022 and the shifts in farmland values varied quite a bit depending on location within the state and land quality.

To learn more about Indiana's 2023 farmland cash rental rates, listen to the second of two podcasts in this series for a wide ranging discussion on cash rent with professors Kuethe, Langemeier and Mintert.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast141.

New! You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/dPCsvO2GXW4 to subscribe and watch.

Ag Barometer Insight: July 2023 Survey Results

Agricultural producer sentiment improved slightly in July as the Purdue University-CME Group Ag Economy Barometer rose two points above its June reading to an index value of 123. This month's Ag Economy Barometer survey was conducted from July 10-14, 2023. 

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the July 2023 Ag Economy Barometer survey. The full report is available at https://purdue.ag/agbarometer.

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.

Ag Barometer Insight: June 2023 Survey Results

Farmer Sentiment rebounded on more optimistic view of future in June as the Purdue University-CME Group Ag Economy Barometer rose 17 points to a reading of 121. This month’s survey was conducted from June 12-16, 2023.

The Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the June 2023 Ag Economy Barometer survey. The full report is available at https://purdue.ag/agbarometer.

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.

2023 Purdue Farm Management Tour Prelude: Rowland Farms

Greg and Jacob Rowland discuss their family's farm operation near Campbellsburg, Indiana with Purdue's James Mintert. Rowland Farms has been in operation since the late 1930's and will be featured as part of the Purdue Farm Management Tour on July 11, 2023 in Washington county, Indiana. Greg and Jenny Rowland took over the operation in 1989 and for well over a decade have focused on improving soil health via their use of cover crops to boost their farm's long-term productivity. Looking for expansion opportunities to make it possible to join the family's farm operation full-time, the Rowland's son, Jacob, recently put into operation a new commercial scale cage-free layer house. The highly automated poultry operation features a manure storage system that helps Rowlands obtain maximum value from the poultry litter they apply to their cropland. Hear how the Rowland's cover crop technology has evolved and how adding a new enterprise to the farm operation facilitated bringing the next generation back to the farm.

Meet Greg, Jacob and Jenny Rowland in person and tour their farm operation! Join us for the 90th annual Purdue Farm Management Tour on July 11, 2023 at the Rowland Farm near Campbellsburg, Indiana. More details and registration information are at https://purdue.ag/farmtour.

Podcast provided by Purdue University's Center for Commercial Agriculture, https://purdue.edu/commercialag/.

New! You can find the FULL video episode with Hackman's farm footage on our YouTube channel. Visit https://youtu.be/PbeJX3SCacE to subscribe and watch.

2023 Purdue Farm Management Tour Prelude: Hackman Family Farm Market

Megan Vanliew and Jacquelyn Jansinski, daughters of Tom & Ruth Hackman, discuss their roles on the Hackman family's farm near Vallonia, Indiana with James Mintert. Hackman Family Farm Market is a diversified farm operation and will be featured as part of the Purdue Farm Management Tour on July 11, 2023. The Hackmans have augmented their row-crop operation with produce including sweet corn, watermelons, cantaloupes, tomatoes and several other produce crops. In addition to supplying several major retailers with watermelons, the Hackman's also market directly to consumers via locations at the farm and in Seymour, Indiana. Their newest enterprise is a subscription based fresh produce delivery service. Hear how Megan, Jacquelyn and other family members value diversification and how they've developed new enterprises to fuel their farm operation's growth while successfully navigating food safety issues.

Meet Megan and Jacquelyn and the rest of the Hackmans in person and tour their farm operation! Join us for the 90th annual Purdue Farm Management Tour on July 11, 2023 at the Hackman Family Farm Market near Vallonia, Indiana. More details and registration information are at https://purdue.ag/farmtour.

Podcast provided by Purdue University's Center for Commercial Agriculture, https://purdue.edu/commercialag/.

New! You can find the FULL video episode with Hackman's farm footage on our YouTube channel. Visit https://youtu.be/neCFlcH_Ync to subscribe and watch.

Soybean Outlook Update Following USDA’s June WASDE Report

Soybean futures volatility increased sharply this week as futures prices responded to concerns about dry weather possibly impacting crop yields. Purdue ag economists James Mintert and Nathanael Thompson discussed the updated soybean outlook on the latest Purdue Commercial AgCast video podcast. The Center's team reviewed this week's soybean crop condition ratings and possible implications for 2023 U.S. soybean yield, production and carryover stocks. Shifting demand prospects for soybeans related to the increased usage of soybean oil for renewable fuels and trade prospects were also featured including a comparison of U.S. exports to those emanating from competing South American exporters. The discussion concluded with an overview of soybean basis, including a discussion of soybean processor and Ohio river basis, using the recently revamped Purdue Crop Basis Tool.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.edu/commercialag/.

New! You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/344-BiC1AHg to subscribe and watch.