Purdue Commercial AgCast

Importance of Crop Basis when Marketing Grain

Basis is an important component for crop producers to consider when marketing grain because it is used to convert the futures price to a local cash equivalent. Futures prices and basis follow different seasonal patterns so the ability to manage futures price risk and basis risk independently creates an opportunity to improve returns. Join Purdue ag economists and co-creators of the Purdue Crop Basis Tool, Nathan Thompson and Jim Mintert for an episode discussing the advantages of using the Center’s Crop Basis Tool, available for corn and soybeans in Illinois, Indiana, Michigan, and Ohio.

This episode begins a new series on crop marketing. The next episode will cover thumb rules to use when forecasting basis, released in a few weeks.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this crop marketing series and related resources at https://purdue.ag/cropmarketing. 

New! You can find the FULL video episode on our YouTube channel, Purdue Center for Commercial Agriculture. Visit https://youtu.be/tNHOQ6sazFw to subscribe and watch.

How Much Have Eggs & Other Food Prices Risen?

With egg prices up nearly 75% and grocery bills on the rise, Jayson Lusk, Distinguished Professor and Department Head of Agricultural Economics joins Brady Brewer to discuss food price inflation. Jayson is also the Director of the Purdue Center for Food Demand Analysis and Sustainability (CFDAS) which provides dashboards and reports on food data, emerging topics, and consumer trends. Although food prices have been on the rise since the onset of the COVID-19 pandemic, certain grocery items have risen more than others. Jayson shares why many livestock producers are scaling back, the effects of supply chain issues, and how food inflation is affecting consumer spending and preferences.

Podcast provided by Purdue University’s Center for Commercial Agriculture. You can find the CFDAS’s dashboards and the latest report by visiting the CFDAS’s website at https://ag.purdue.edu/cfdas. Slides from this discussion can be found at https://purdue.ag/3XWXZWI.

If you enjoyed this podcast, tweet us using #AgCast.

2023 Top Farmer Conference Recap: Interest Rates

In this episode, Purdue’s Brady Brewer was joined by Michael Langemeier, associate director of Purdue’s Center for Commercial Agriculture and Jason Henderson, senior associate dean of Purdue’s College of Agriculture and professor of agricultural economics. The podcast episode was a follow-up to the panel discussion the group had at the 2023 Purdue Top Farmer Conference focused on the U.S. economy, the Federal Reserve’s policy choices in 2023 and what it means for interest rates and the farm economy. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

2023 Top Farmer Conference Recap: Machinery

Associate Professor of Agricultural Economics at the University of Kentucky Tyler Mark joined Purdue's Brady Brewer at the 2023 Purdue Top Farmer Conference to discuss the machinery market. In this episode, the two discuss key factors related to machinery prices, and what buyers should be thinking about as they make equipment purchase decisions in 2023 and 2024. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

 

2023 Top Farmer Conference Recap: Land Values

Purdue's Brady Brewer was joined by R.D. Schrader, President of Schrader Real Estate and Auction Co., and Howard Halderman, President and CEO of Halderman Real Estate and Farm Management at the 2023 Purdue Top Farmer Conference to discuss land values. In this episode, Brewer, Schrader and Halderman give insights into what is in store for the farmland market, how interest rates may impact farmland markets, and the impact of institutional buyers. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

 

January Corn & Soybean Outlook Update

Nathan Thompson and Michael Langemeier joined James Mintert on this podcast to discuss new information from USDA’s January 2023 World Ag Supply & Demand Estimates (WASDE) report, which was released on January 12th. During the podcast, they also provided an update on Eastern Corn Belt corn and soybean basis bids, marketing opportunities for both old and new crop corn and soybeans along with current breakeven estimates for corn and soybean production in 2023.

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

2023 Top Farmer Conference Recap: Corn & Soybean Outlook with Iowa State’s Chad Hart

Dr. Chad Hart, crop marketing specialist from Iowa State University, joined Purdue's Brady Brewer on January 6, 2023 at the Purdue Top Farmer Conference to discuss the key factors he is monitoring that will impact both the corn and soybean price outlook in 2023 and 2024. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

 

Ag Barometer Insight: December 2022

Producer sentiment improved sharply in December as the Purdue University-CME Group Ag Economy Barometer Index reading of 126 was 24 points higher than a month earlier. Although U.S. farmers were more positive regarding both the current situation as well as their expectations for the future, by far the biggest improvement was in their assessment of current conditions. This month’s survey was conducted from December 5-9, 2022. 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.

Production Risk Management & Contingency Planning

In this second episode of a new series on Farm Risk Management, Jenna Nees, Ed Farris, and Michael Langemeier join Brady Brewer to discuss contingency planning for production risk. Minimizing risk through management practices, reducing production variability, and managing ways to transfer some of the production risk should be reevaluated every year. Implementing diversification, flexibility, vertical integration, and new technology while managing costs can help migrate risk for farms and agribusiness'. Having a written contract in place for production and marketing as well as carrying insurance are important strategies to transfer risk to a third party.

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 related resources at https://purdue.ag/farmriskmgmt. More information on strategic business planning is on the Purdue Institute for Family Business' website, https://purdue.ag/fambiz.

If you are enjoying the podcast, tweet us using #AgCast.

December Outlook Update: Shifting Gears

Purdue ag economists Michael Langemeier, Nathan Thompson and James Mintert discuss shifting gears with farm management strategies for a tougher operating environment. The team took a longer-term view of the changing cost structure facing corn and soybean prices, key factors likely to impact corn and soybean prices in 2023 and discussed how to use scenarios when analyzing price risk and making marketing decisions. Slides from the webinar podcast can be found at https://purdue.ag/webinar121922. 

Podcast provided by Purdue University's Center for Commercial Agriculture. For more information on the current ag outlook and farm economy, visit us at http://purdue.edu/commercialag.