AgCast by Purdue Commercial Agriculture

Crop insurance is an important aspect of nearly every corn and soybean farm’s risk management program. There are some new choices to consider this year, including the Extended Coverage Option (ECO). This episode is a great opportunity for producers to review their crop insurance alternatives as Purdue University Center for Commercial Agriculture's ag economists Michael Langemeier and James Mintert...

February's Ag Economy Barometer changed very little compared to January, down 2 points to a reading of 165. Ongoing strength in ag commodity prices and farm income continue to support producers’ perspective on current conditions while concerns about possible policy changes affecting agriculture and eroding confidence in future growth in ag trade continue to weigh on producers’ future expectations....

Choosing a business entity is a key aspect in liability, taxation, capitalization, decision making, agricultural government payments, and transfer options for all farm businesses. When it comes time to transition your farm business to the next generation, whether your farm is set up as a sole proprietor, partnership, corporation, or LLC, how your business is structured will affect many aspects. De...

Purdue University agricultural economist Brady Brewer is joined by Purdue agricultural economist Michael Langemeier to discuss credit underwriting and the criteria financial institutions use to determine eligibility of an applicant. Character, capital, capacity, collateral, and conditions are the five Cs of credit used in credit underwriting. These metrics are used for credit ratings to quantify a...

Purdue ag economists Michael Langemeier, Nathanael Thompson and James Mintert discussed USDA’s February Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. Tight U.S. crop supplies combined with concerns about the South American harvest and prospects for big acreage swings are all on ag producers’ minds. The Purdue team reviewed updated information from USDA and oth...

The Ag Economy Barometer drifted lower in January to a reading of 167, a decline of 7 points compared to December and equal to the index’s November reading. The barometer’s decline over the last three months is all attributable to weaker expectations for the future as the Index of Future Expectations has fallen 35 points or about 19 percent since October. This month’s survey was conducted from Jan...

Adding on to our series about Farm Transition Planning, in this sixth episode, we focus on the importance of governance in a farm business. Having policies on who's in power, how decisions are made, and how to hold accountability among team members (especially when it comes to family) makes running a farm business easier. Purdue agricultural economists Brady Brewer and members of the Purdue Farm T...

Crop producers need to make their 2021 farm program choices at their local Farm Service Agency (FSA) office (or online) by March 15, 2021. Producers have the option of choosing either the Agriculture Risk Coverage (ARC) or the Price Loss Coverage (PLC) program. Purdue agricultural economists Michael Langemeier and James Mintert review how the most commonly chosen program options during the last si...

Purdue ag economists Michael Langemeier, Nathanael Thompson and James Mintert discussed United States Department of Agriculture’s (USDA) January Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. The Purdue team reviewed information released in the USDA reports and looked at what the year ahead may have in store during the webinar. Carryover corn and soybean suppli...

Farmer sentiment improved modestly in December as the Purdue University-CME Group Ag Economy Barometer rose to a reading of 174, up 7 points from November. Both of the barometer’s sub-indices, the Index of Current Conditions and the Index of Future Expectations, were higher in December than in November although the current conditions improvement was three-times the size of the future expectations...

In this fifth episode of our series about Farm Transition Planning, we focus on conflict management – what is conflict, what causes it, how do we handle it within a farming business to come to a resolution. Purdue agricultural economists Brady Brewer and members of the Purdue Farm Transition team Renee Wiatt, Dr. Maria Marshall and Heather Caldwell discuss the levels and sources of conflict within...

In this episode, Purdue agricultural economists Michael Langemeier, Nathanael Thompson, and James Mintert discussed USDA’s December Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports. As the end of the year is nearing, the Purdue team reviews information released in the USDA reports and looks ahead at what next year may have in store regarding potential profitabilit...

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 upda...

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...

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...

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 mor...

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 20...

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...

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 outloo...

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 Baromete...

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...

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....

Purdue agricultural economists Michael Langemeier and James Mintert discussed USDA’s September Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on September 11. The reports provided USDA’s first objective yield estimates for the 2020 corn and soybean crops. The webinar includes an overview of the information on the two reports along with a discussion regarding imp...

Farmer sentiment improved markedly in August as the Purdue University-CME Group Ag Economy Barometer rose to a reading of 144, 26 points higher than a month earlier. Purdue ag economists James Mintert and Michael Langemeier review the results from the August 2020 Ag Economy Barometer survey, a nationwide monthly survey of 400 ag producers. The barometer and its two sub-indices all posted their mos...

Purdue University agricultural economist Brady Brewer is joined by Purdue Agricultural Economics graduate student Chad Fiechter and Kansas State agricultural economist Jennifer Ifft to discuss issues surrounding vendor and trade credit in the agricultural finance sector. There has been a lot of growth in farmer use of vendor and trade credit as terms and conditions for this credit can sometimes be...