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Showing posts from November, 2016

How to Connect your Site to the Prospective Business | webinar

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How to Connect your Site to the Prospective Business | webinar
Nancy Ouedraogo, Extension Community & Economic Development
pronouncer - (way-drawn-oh) University of Illinois Extension’s Community and Economic Development team will host a free webinar, Site Selection: How to Connect your Site to the Prospective Business, on Thursday, December 8, 2016 from Noon to 1PM, Central Time.The webinar, a final in Local Government Education’s fall series on economic development in Illinois, will feature Cheryl Welge, who will be presenting a more detailed discussion of the site selection process. In the previous site selection webinar, we covered the state and technical aspects of Location One and site selection in Illinois. During this upcoming webinar, Cheryl will share her expertise on capacity requirements for site selection from the site selector perspective.As a senior business development executive in Ameren Corporation’s Economic Development Department, Cheryl serves as…

2016 Gross Farm Revenue & Income

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2016 Gross Farm Revenue & Income
Gary Schnitkey, Extension Agricultural Economist - University of IllinoisIt looks like this year is going to be better than last year for farmers in central Illinois. Todd Gleason explores how gross income has changed for row croppers in the middle of the prairie state. 2:28 radio
2:37 radio self-containedHere are the gross revenue numbers, straight up, for highly productive soils in central Illinois. The gross revenue for corn is $292 per acre. It is tallied from three income sources. The crop is worth $262. There was a $20 farm safety net payment from the ARC-County program and a $10 crop insurance indemnity. The total, again $292, is lower than last year says University of Illinois Agricultural Economist Gary Schnitkey. Schnitkey :19 …2016 as compared to 2015.Quote Summary - Even though we are putting in a very high yield, we are using 231 bushels to the acre for the corn average - the same as in 2014, revenues will be down for corn…

Illinois Farm Economic Summits

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The big story in Illinois agriculture in 2016 continued to be the “margin squeeze” faced by crop producers. This squeeze was brought on by low corn, soybean, and wheat prices and costs of production that are only slowly adjusting to the new price realities. At present prices, further cost of production reductions will be required. Producers and landowners face a series of difficult management challenges as they grapple with how to adjust to the changed environment. Should cash rents be lowered? And if so, by how much? How much relief will be seen through lower fertilizer and seed prices? What are the prospects for grain prices to recover from current depressed levels?

University of Illinois Extension and members of the farmdoc team from the Department of Agricultural and Consumer Economics will be holding a series of five Farm Economics Summit meetings to help producers navigate these difficult times.

LEARN MORE & REGISTER TODAY

Speakers from the farmdoc team at the University of …

EPA Renewable Fuels Standard Rallies Soybean Oil Prices

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EPA Renewable Fuels Standard Rallies Soybean Oil Prices
Source | Darrel Good, Agricultural Economist - University of Illinois The price of soybeans rallied about 10 percent from mid-October to mid-November. It came, as Todd Gleason reports, despite the record sized crop harvested in the United States. 2:23 radio
2:35 radio self contained Farmers have been in awe of the soybean market since mid-August. There have been a few reasons for it to rally; a short crop out of South America and a drought constrained supply of palm oil coming from Indonesia for instance. Still, this U.S. soybean crop is big, mighty big in fact. Yet, the price of soybeans has gone higher. Darrel Good writes about it in this week’s Weekly Outlook. You may read it online at FarmDocDaily. There are two unusual things about this price rally. Well, one really, but it is driven by the first. The rally has come because the world seems to be short of vegetable oils. Soybean oil is among those. Here’s the impo…

Choosing a Career in Extension | an interview with Alicia Gardner

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Choosing a Career in Extension | an interview with Alicia Gardner
Alicia Gardner - Extension Horticulture - University of Illinois

Food Access & Corner Stores | an interview with Amy Funk

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Food Access & Corner Stores | an interview with Amy Funk
Amy Funk, Extension Health & Nutrition - University of Illinois

University of Illinois Extension is working to find ways for corner stores in rural and urban areas to provide more fruits and vegetables. It hopes to resolve issues where populations no longer have access to a general grocery store.

Thanksgiving Food Safety | an interview with Mary Liz Wright

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Thanksgiving Food Safety | an interview with Mary Liz Wright
Mary Liz Wright, Extension Nutrition & Wellness - University of IllinoisTomorrow is Thanksgiving. Todd Gleason has some thoughts on food safety with an Extension nutrition and wellness educator.

Could Soybean Stocks Grow to 580 Million

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Could Soybean Stocks Grow to 580 Million
Darrel Good, Agricultural Economist - University of Illinois Depending upon how you do the numbers there could be an enormous supply of soybeans in the U.S. by the time the fall of 2018 rolls around. Todd Gleason has one set of calculations. The large soybean crop in the United States hasn’t…
2:46 radio
2:57 radio self contained The large soybean crop in the United States hasn’t, yet, pummeled prices in Chicago. However, farmers are a bit worried the hammer blow will be struck. For now, much of the focus is on the potential size of the 2017 South American crops and the implications for demand for U.S. grown soybeans. Increasingly, however focus will shift to 2017 production prospects here in the United States. The over-riding question is whether surpluses and low prices will persist for another year. Although University of Illinois Agricultural Economist Darrel Good says it is a bit early to speculate on supply and consumption pros…

US Corn Ethanol Market | an interview with Carl Zulauf

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US Corn Ethanol Market | an interview with Carl Zulauf
Carl Zulauf, Agricultural Economist - Ohio State University
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Ethanol was a factor in both the price run-up that began in 2006 and the price run-down that began in 2013. Tepid growth replaced explosive growth. The question for the future is, “What is ethanol’s organic growth rate (growth without government policy stimulus)?” Recent history suggests growth will continue in the corn ethanol market, but it likely will be notably lower than the growth in yields. Thus, upward pressure on corn prices is less likely.

Corn Ethanol in Historical Perspective
US Department of Agriculture data on US corn processed into US ethanol begin with the 1980 crop. It is reported monthly in the World Agricultural Supply and Demand Estimates. Corn processed into ethanol grew at an average annual rate of 6% between 1985 and 2000, exploded to a 24% annual growth rate between 2000 and 2010, then slowed to 1% per year after 2010 Etha…

Watch the Feed Usage Number for Corn

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Watch the Feed Usage Number for Corn
Josh Hubbs, Agricultural Economist - University of Illinois Last week, when USDA raised the sized of the U.S. corn crop, there was a collective gasp in farm country. Prices are already very low, and an even bigger crop wasn’t expected. Todd Gleason reports all attention now has turned to how this mammoth supply of corn will be used in hopes consumption can chew through the mountain of corn. U.S. farmers are harvesting their largest…
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3:45 radio self contained U.S. farmers are harvesting their largest corn crop on record at some 15.2 billion bushels. It’s the western corn belt that really came through this year with big yields. The November USDA Crop Production report shows that even in the last month those yields got bigger. Up 3 bushel to the acre in Nebraska and South Dakota. 4 bushels higher in Minnesota. And a 17 bushel to the acre increase in North Dakota that came about once farmers (the only real source for yields in t…

Farm Bill Listening Sessions Mt. Vernon, Normal, & Sycamore

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Farm Bill Listening Sessions Mt. Vernon, Normal, & Sycamore
Jonathan Coppess, Policy Specialist - University of Illinois

It’s pretty clear the debate over farm policy in Washington, D.C. is gearing up. There’s a grassroots effort underway in Illinois to get farmer opinions on the current state of the Farm Bill and how they’d like it change in the future. Todd Gleason has more on how this is happening with a University of Illinois agricultural policy specialist.

Fall Pumpkin Time - an interview with Mahommad Babadoost

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Fall Pumpkin Time - an interview with Mahommad Babadoost
Mahommad Babadoost - Extension Fruit & Vegetable Crops - University of IllinoisThe 2016 pumpkin crop has been a very good one, especially in comparison to last year’s.

November is National Diabetes Month

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November is National Diabetes Month
Marilyn Csernus, Nutrition & Wellness Educator - University of Illinois
HUS NIH WebsiteNovember is National Diabetes Month. Todd Gleason talks about the disease and its impact with University of Illinois Extension Nutrition and Wellness Educator Marilyn Csernus.

Plenty of Pumpkins for Holiday Pies

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Plenty of Pumpkins for Holiday Pies
Mohammad Babadoost, Extension Plant Pathologist - University of Illinois (moe-hahm-id bah-buh-doost)There should be plenty of pumpkin pie filling for the holidays. Todd Gleason has more from the number one pumpkin producing state in the nation. Unlike last year this season’s pumpkin…
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0:52 radio self contained Unlike last year this season’s pumpkin crop is a good one says University of Illinois Extension specialist Mohammad Babadoost. Babadoost :27 …having enough canned pumpkin in the market.Quote Summary - This year we started the season very favorably with enough moisture for the seed to germinate and establish a good canopy. It was also dry enough for the crop to not be flooded or have major disease problems develop early. This year’s crop is much better compared to last year’s. So, we shouldn’t have any problem with having enough canned pumpkin in the marketplace.About ninety-percent of the nation’s processing pumpkins are…

2016 Crop Insurance Payments

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2016 Crop Insurance Payments
Gary Schnitkey, Agricultural Economist - University of Illinois This season’s crop insurance setting period for corn and soybeans has ended. Todd Gleason has more on what farmers across the United States might expect from the program.Harvest prices used to determine crop…
1:32 radio
1:46 radio self contained Harvest prices used to determine crop insurance payments for corn and soybean policies in the Midwest are based on Chicago Mercantile Exchange (CME Group) futures settlement prices during the month of October. The 2016 harvest price for corn is $3.49 per bushel. This is 10% lower than the $3.86 projected price set in February. The soybean harvest price is $9.75 per bushel. That’s 10% higher than the $8.85 projected price. For the most part it means crop insurance payments to farmers will be relatively low says University of Illinois Agricultural Economist Gary Schnitkey. Schnitkey :28 …did not fall as much this year.Quote Summary - If we l…

Crop Insurance Payments - an interview with Gary Schnitkey

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Crop Insurance Payments - an interview with Gary Schnitkey
Gary Schnitkey, Agricultural Economist - University of Illinois Harvest prices used to determine crop insurance payments for corn and soybeans policies in Midwest states are based on settlement prices of Chicago Mercantile Exchange (CME) during the month of October. October has come to an end, and 2016 harvest prices are known. The 2016 harvest price for corn is $3.49 per bushel, 10% lower than the $3.86 projected price. The soybean harvest price is $9.75 per bushel, 10% higher than the $8.85 projected price. Todd Gleason talked with University of Illinois Agricultural Economist Gary Schnitkey about the expected payments.

Assessing the Potential for Higher Corn Prices

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Assessing the Potential for Higher Corn Prices
Darrel Good, Agricultural Economist - University of Illinois The odds are against four dollar cash corn this year and next, at least for any extended period of time. Todd Gleason has more on the long term low price trend. The monthly average price of corn received…
3:26 radio
3:35 radio self containedThe monthly average cash price paid to farmers in the United States for their corn has been less than $4.00 a bushel for 27 consecutive months. It’s likely to stay that way well into 2017, too, says University of Illinois Agricultural Economist Darrel Good unless something changes.Good :11 …for an extended period of time.Quote Summary - Some combination of a reduction in corn supplies and increased consumption will be required in order for prices to move above $4.00 per bushel for an extended time.On the supply side, or how much corn is around, USDA’s next Crop Production report is due November 9th. It will contain a new forecast…