A few weeks ago, we looked at prevented planting acres and its potential impacts on production. This got us to wondering about harvested acres. Each year, a portion of each crop planted is left unharvested, reducing total production. This week’s post takes a look at the share of planted acres that are harvested for corn, soybeans, and wheat. Continue reading →
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 →
Direct farm program payments have again become a critical component of net farm income. In 2016 direct farm program payments are forecast to account for $13 billion of the sector’s $68 billion (19%) of net farm income. At $5.9 billion the ARC-CO program is by far the largest category of direct farm program payments.