Where the Farm Income Boom Happened (and Didn’t)

ag trends. agricultural economic insights

by David A. Widmar

We have frequently written about the expansion and subsequent contraction of the U.S. farm income. While most of our previous work has focused on sector-level trends across the U.S. farm economy, we have anecdotally noted these trends likely vary at the local, state, and regional levels. Thinking about these variations, we previously looked at how changes in farmland values have varied across the country. To provide more insight on the variations in the farm economy, this week’s post considers state-level changes in net farm income during the boom and contraction. Continue reading

2017 Soybean Acre Madness

by David Widmar and Brent Gloy

When you think of March, two big events come to mind: the NCAA’s March Madness and the USDA’s Planting Intentions report. In both cases, speculation and anticipation is in full force on how the brackets and balance sheets will sort out. Furthermore, both the NCAA tournament and U.S. spring crop plantings will likely have a few surprises.

This week’s post takes a look at the latest crop insurance and commodity price data to provide some insights on what 2017 planting might have in store. Continue reading

2017 Fertilizer Prices Turn Higher – Still Lower than 2016

2017 fertilizer prices. ag economic insights. ag trends.

by David A. Widmar

Lower fertilizer prices have been an important source of crop budget improvements in recent years. From 2014 to 2016, a majority of corn production costs reductions came from lower fertilizer expense. Last fall, we noted that fertilizer prices were again lower and could provide additional relief to crop budgets in 2017. Recently, however, fertilizer prices have turned higher. This week’s post looks at 2017 fertilizer prices and the farm-level implications. Continue reading