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Illinois

Illinois: Why Should Farmers Know About the Illinois Schedule SA Income Allocations?

Illinois: Why Should Farmers Know About the Illinois Schedule SA Income Allocations?

👤By Brandy Krapf, Dwight Raab, and Bradley Zwilling, University of Illinois Ag Economists 🕔Feb 19, 2018

On July 6, 2017, Illinois Public Act 100-0022 became law. One item in this Act was an Illinois income tax rate increase effective July 1, 2017. The Illinois income tax rate for individuals, trusts, and estates increased from 3.75% to

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Illinois: Ag Technology Innovation Summit, Champaign, Feb. 28

Illinois: Ag Technology Innovation Summit, Champaign, Feb. 28

👤By Stephanie Henry, University of Illinois 🕔Feb 15, 2018

The University of Illinois at Urbana-Champaign is convening its third annual summit on agriculture technology innovation and opportunities for entrepreneurship on Feb. 28 at the iHotel and Conference Center in Champaign.  Creating, developing, and building connections between entrepreneurs, industry, and

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Illinois Corn, Soybeans: Revised Crop Budgets for 2018

Illinois Corn, Soybeans: Revised Crop Budgets for 2018

👤By Gary Schnitkey, University of Illinois Ag Economist 🕔Feb 13, 2018

Revised 2018 corn and soybean budgets are available in the management section of farmdoc (here). The major revision was to commodity prices. A $3.60 per bushel corn price and $9.60 per bushel price are now used in budgets, closely matching

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Illinois: Ag Perspectives on Trade Matters

Illinois: Ag Perspectives on Trade Matters

👤By Steve Burak, Kathy Baylis, Qianting Xie, and Jonathan Coppess, University of Illinois Ag Economists 🕔Feb 8, 2018

Concerns about agricultural trade continue to weigh heavily on farmers in Illinois and across the country as renegotiations over NAFTA finished up their sixth round in Montreal, Canada (Torry, Feb. 5, 2018). Despite some recent progress on telecom and digital trade, other recent

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Illinois Weather: Jan. Was Cold and Dry

Illinois Weather: Jan. Was Cold and Dry

👤From University of Illinois 🕔Feb 2, 2018

January in Illinois was colder and drier than normal without much snow, according to Illinois State Climatologist Jim Angel of the Illinois State Water Survey at Illinois. The statewide average temperature was 24.1 degrees, 2.3 degrees below normal. The month

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Illinois: Resilient Farm Roadshow Has 5 Meetings Planned for Feb.

Illinois: Resilient Farm Roadshow Has 5 Meetings Planned for Feb.

👤By Stephanie Henry, University of Illinois 🕔Feb 2, 2018

Some of the habits of successful farm managers include being innovative and cost- conscious, and evaluating the returns on alternative technologies and investments. Cash flow management is key in preserving working capital in these tight economic times. Crop insurance and

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Illinois Farm Income: What’s Needed to Break Even in 2018?

Illinois Farm Income: What’s Needed to Break Even in 2018?

👤By Gary Schnitkey, University of Illinois Ag Economist 🕔Jan 31, 2018

Listen to MP3 podcast Current fall delivery bids are near $3.60 per bushel for corn and $9.60 per bushel for soybeans. At those prices, high yields are needed for farmers to break-even on cash rented farmland. Alternatively, at trend yield

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Illinois Corn, Soybeans: Continuing Need to Cut Costs

Illinois Corn, Soybeans: Continuing Need to Cut Costs

👤By Gary Schnitkey, University of Illinois Ag Economist 🕔Jan 25, 2018

This is a presentation summary from the 2017 Illinois Farm Economics Summit (IFES) which occurred December 18-22, 2017. A complete collection of presentations including PowerPoint Slides (PPT) and printable summaries (PDF) are available here. Corn and soybean prices continue to

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Illinois Farm Business: More Habits of Financially Resilient Farms

Illinois Farm Business: More Habits of Financially Resilient Farms

👤By Dale Lattz, University of Illinois Ag Economist 🕔Jan 24, 2018

A study funded by the Illinois Soybean Association titled “Identifying Management Strategies of Highly-Profitable Soybean Farmers” utilized data from the Illinois Farm Business Farm Management (FBFM) Association to identify farms ranked in the top one-third in terms of profitability over

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Illinois Crop Insurance: Soybeans – Impacts of Lowering Coverage Levels

Illinois Crop Insurance: Soybeans – Impacts of Lowering Coverage Levels

👤By Gary Schnitkey, University of Illinois Ag Economist 🕔Jan 24, 2018

In 2018, some farmers are considering lowering coverage levels or eliminating crop insurance on soybeans. A primary motive for doing so is reducing cash flows in these times of negative and short cash flows. Contributing to this consideration is the

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