The 2014 Farm Bill made several changes to U.S. farm programs. The most notable was probably the elimination of Direct and Counter Cycle Payment (DCP) and Average Crop Revenue Election (ACRE) programs and the development of the Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. While work is already underway on developing another farm bill, we thought it would be a good time to examine how producers in different regions have fared under the current and previous farm bills. (more…)
Since 2014, U.S. farmers have managed to produce very large corn, soybean, and wheat crops. These, and large crops around the world, have weighed on prices and created a major economic downturn for U.S. farmers. While record large crops have meant most farmers have enjoyed high yields, U.S. production takes place across a very wide and diverse geography. As such, some producers have seen high yields while others may have been less fortunate.
This week we look at county level corn, soybean, and wheat yields to better understand how crop yields have varied across the country during the economic downturn. Areas where yields have been particularly high should have weathered the economic downturn better than areas where yields may not have been quite so good. (more…)
The recent release of the March 2017 Iowa Land Trends and Values Survey estimated that Iowa farmland values were slightly higher than they were 6 months ago and only 2.7% lower than a year ago. These results provide some encouragement that perhaps land values are starting to stabilize after falling from their peak. This week we decided that it would be a good time to look at farmland value estimates from around the country. (more…)