by Brent Gloy and David Widmar
Now that the holidays are behind us, it is time to really start getting serious about 2017 planting decisions. There are a variety of factors that go into how farmers decide what crops to plant, but crop budgets certainly play a key role. The analysis of this year’s crop budgets favor soybeans in many areas of the country. This appears to be particularly true in the Eastern Corn Belt. Continue reading
By Brent Gloy and David Widmar.
(Brent and David originally wrote this piece for the December issue of Successful Farming, available here.)
The frustrating realization that 2017 will likely be another difficult financial year for producers has begun to set in. After three years of falling net farm income and negative budget conditions for corn and soybean production throughout the country, 2017 is setting up to look like Round Four of the Great Margin Squeeze. In light of this, we offer 9.3 tips for planning and preparing for 2017.
By Brent Gloy
The 2016 USDA farm income forecast shows that USDA expects direct government program payments to increase by roughly $2 billion over 2015 levels, reaching a total of $12.8 billion. The increase was driven primarily by increases in payments under the ARC and PLC programs. From 2015 to 2016 the forecast is for PLC program payments to increase from $754 million in to $1.96 billion (160% increase) and payments under ARC programs to increase from $4.38 billion to $5.94 billion (35% increase). Continue reading