By David Widmar and Brent Gloy
Last week the USDA provided an update on net farm income estimates, including the first look at 2017. With this report, the USDA confirmed net farm income would be lower for the fourth consecutive year. However, the USDA’s latest estimates were not all bad news. This week’s blog post analyzes the latest USDA estimates and why conditions in 2017 are better than the outlook a year ago. Continue reading
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.