by Brent Gloy
According to the latest USDA cost of production estimates, U.S. farmers will find the 2017 cost of producing corn, soybeans, and wheat basically unchanged from 2016. Combined with the outlook for flat to slightly better commodity prices, the cost of production estimates portray yet another year of challenging economic conditions throughout corn, soybean, and wheat country. Continue reading
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
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