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Showing posts from July, 2019

MFP Impact on 2019 through 2023 Incomes and Financial Positions

read farmdocDaily postMarket Facilitation Program (MFP) payments in 2019 of $50 per acre will reduce financial erosion on farms. Still, incomes for 2019 are projected to be over $100,000 lower than 2018 incomes.

2019 Northern Illinois Crop and Prevent Plant Budgets in July

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by Gary Schnitkey, University of Illinois
link to farmdocDaily article

Overall, projections suggest low returns for corn, soybeans, and prevent plant acres in Northern Illinois, an area that has been hard hit with wet weather, delayed planting, and prevent planting. Corn and soybean returns are projected to be lower than any year going back to 2000, even after including significant Market Facilitation Program (MFP) payments and estimates of crop insurance payments at an 85% coverage level. Corn prevent planting returns are higher than corn returns given current estimates of harvest-time prices, although both results in a loss on average cash rented land. Soybean returns are expected to be better than soybean prevent plant returns, which are very low. As with corn, both soybean scenarios result in a loss on average cash rented land.


Current projections of prices and yields result in negative returns for Northern Illinois, an area that has experienced a large amount of wet weather that ha…

June Acreage Report Heightens Uncertainty

by Todd Hubbs, University of Illinois Extension
link to farmdocDaily article and videoOn June 28, the USDA released the Acreage and Grain Stocks reports. While the Grain Stocks report provided support for both corn and soybeans, the Acreage report indicated higher than expected corn acres and lower than expected soybean acres. The acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer.
The 2019 June USDA Acreage Report rocked the corn market. University of Illinois Agricultural Economist Todd Hubbs explores those numbers in this interview with ILLINOIS Extension Farm Broadcaster Todd Gleason.A dramatic drop in principal crop acreage provided one of the many surprises in the Acreage report released on Friday. Driven by much lower soybean and wheat acreage, total principal crop acreage came in at 309.3 million acres, down 6.1 million acres from the March Prospective Planting report. Principal crop acreage esti…