Purdue Commercial AgCast

Corn Outlook Update Following USDA’s June WASDE Report

Purdue ag economists James Mintert and Nathanael Thompson discussed the updated corn outlook following USDA's June World Ag Supply and Demand Estimates (WASDE) report on the latest Purdue Commercial AgCast podcast. The latest corn crop condition ratings were discussed along with implications for 2023 U.S. corn yield, production and carryover stocks. Corn export prospects were also featured with a comparison to South American and Black Sea region exports. The discussion concluded with an overview of corn basis and basis forecasts 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/thkEwSt-FrE to subscribe and watch.

Ag Barometer Insight: May 2023 Survey Results

Producer sentiment fell to its weakest reading since July 2022, as the Purdue University-CME Group Ag Economy Barometer Index declined 19 points to a reading of 104 in May. This month’s survey was conducted from May 15-19, 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 May 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: April 2023 Survey Results

Farmer sentiment improved modestly in April as the Purdue University-CME Group Ag Economy Barometer reversed a two-month decline up 6 points to a reading of 123. This month’s survey was conducted from April 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 April 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.

Critical Juncture for Crop Basis & Your Marketing Strategy for the Remainder of ’22 Crop

Purdue ag economists Nathanael Thompson and James Mintert explore what's been taking place in the Eastern Corn Belt on corn basis, the May/July CBT corn spread, as well as the July/September CBT corn spread, and later discuss how you might pursue some marketing strategies for the remainder of the '22 crop that you might have in storage. 

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/akgk9a9YluU to subscribe and watch.

Ag Barometer Insight: March 2023 Survey Results

Farmer sentiment weakened again in March as the Purdue University-CME Group Ag Economy Barometer fell 8 points to a reading of 117. Both the Index of Current Conditions and Index of Future Expectations declined 8 points in March leaving the Current Conditions Index at 126 and the Future Expectations Index at 113. Weaker prices for key commodities including wheat, corn, and soybeans from mid-February through mid-March were a key factor behind this month’s weaker sentiment reading. The Purdue University-CME Group Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted from March 13-17, 2023 which coincided with the demise of Silicon Valley Bank and Signature Bank.

 

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.

Prospective Plantings Report Update

On March 31st USDA released the Prospective Plantings and the March Grain Stocks reports, providing the first estimate of spring 2023 corn and soybean planting intentions. Purdue ag economists James Mintert and Michael Langemeier reviewed the information contained in both reports and discussed implications for the corn and soybean outlook in 2023.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/agcast130.

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Ag Barometer Insight: February 2023 Survey Results

The Purdue University-CME Group Ag Economy Barometer Index dipped 5 points in February to a reading of 125. Farmers’ perspectives regarding both current conditions on their farms and their expectations for the future both weakened. This month’s survey revealed that producers’ confidence in the future growth of U.S. agricultural exports continues to weaken. In addition, although both land value expectation indices remain in positive territory, more producers think farmland values could weaken in the year ahead than on previous surveys. This month’s survey was conducted from February 13-17, 2023. 

The Purdue University-CME Group 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 February 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.

Financial Risk Management & Contingency Planning

Farming is never the same from year to year - sometimes prices are good, net farm income is high, and other times margins are tight. Planning ahead, or contingency planning for financial hardship is important for any farm operation. In this final episode in the Farm Risk Management series, Purdue's Michael Langemeier and Ed Farris join Brady Brewer to discuss financial risk management. How to evaluate farm financials, update financial statements, analyze performance, and when borrowing makes sense.

This series is based on the Six Pillars of Farm Risk Management course, funded by the North Central Extension Risk Management Education Center.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this farm risk management series and resources at https://purdue.ag/farmriskmgmt. More information on contingency planning is on the Purdue Institute for Family Business' website https://purdue.ag/fambiz.

Making Your 2023 Crop Insurance Decision

This episode of the Purdue Commercial AgCast is a great opportunity for producers to review their crop insurance choices for the upcoming season. Purdue University Center for Commercial Agriculture's ag economists Michael Langemeier and James Mintert walk participants through key considerations for their 2023 insurance options. In particular, they discuss a handy thumb rule to use when considering an increase in coverage levels for RP insurance.

Podcast provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/cropinsurance2023.

New! You can find the FULL video episode on our YouTube channel. Visit https://youtu.be/y4gY4j-6ukg to subscribe and watch.

Marketing Risk Management & Contingency Planning

Product, price, place, and promotion are important in marketing to current and potential buyers. In this episode, a continuation of the Farm Risk Management series, Ariana Torres, Renee Wiatt, and Jenna Nees join Brady Brewer to discuss contingency planning for marketing risk management. 

This series is based on the Six Pillars of Farm Risk Management course, funded by the North Central Extension Risk Management Education Center.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this farm risk management series and resources at https://purdue.ag/farmriskmgmt. More information on contingency planning is on the Purdue Institute for Family Business' website https://purdue.ag/fambiz.