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Tag "production costs"

Farm Business: 7 Crops Show a Declining Cost of Production

Farm Business: 7 Crops Show a Declining Cost of Production

👤By Nick Paulson, Jonathan Coppess, and Gary Schnitkey, University of Illinois Ag Economists; and Carl Zulauf, Ohio State University Ag Economist 🕔Dec 15, 2017

In a July 25, 2017 farmdoc daily article, Schnitkey discussed declining cost of production for Illinois corn and soybeans. This article extends the discussion to the U.S. and to barley, peanuts, rice, sorghum, and wheat. Total cost per acre declined

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No-Till Farming: The Economics of Saving Money, Time, and Soil

No-Till Farming: The Economics of Saving Money, Time, and Soil

👤By Elizabeth Creech, USDA Natural Resources Conservation Service 🕔Dec 1, 2017

For farmers across the country, it comes as no surprise to hear that conservation tillage practices – particularly continuous no-till – can save time and money compared to conventional tillage. The potential benefits of no-till are well-documented, from improving soil

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USDA: Farm Income Forecast – Most Row Crop Receipts Decline, But Profits Stable

USDA: Farm Income Forecast – Most Row Crop Receipts Decline, But Profits Stable

👤From USDA 🕔Nov 30, 2017

After 3 consecutive years of decline, farm sector profits are forecast to be relatively stable in 2017. Net farm income, a broader measure of profits, is forecast to increase $1.7 billion (2.7 percent) from 2016 to $63.2 billion in 2017

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Illinois: Farm Income Forecast Lower Than 2016 but Better Than Expected

Illinois: Farm Income Forecast Lower Than 2016 but Better Than Expected

👤By Gary Schnitkey, University of Illinois Ag Economist 🕔Nov 22, 2017

Average net income on Illinois grain farms is forecast at around $60,000 per farm in 2017. This forecast is for a composite of grain farms enrolled in Illinois Farm Business Farm Management (FBFM). In 2016, these farms had an average

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Ag Economy Barometer: Glass Half Full or Half Empty?

Ag Economy Barometer: Glass Half Full or Half Empty?

👤By James Mintert, David Widmar, and Michael Langemeier, Purdue University Ag Economists 🕔Nov 7, 2017

The latest measure of agricultural producer sentiment improved slightly during October to 135, its third-highest level since data collection began two years ago (Figure 1). Although stronger than a month earlier, the Purdue/CME Group Ag Economy Barometer remained within the

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Midwest Farmers Can Cut Energy Bills, Gain Federal Incentives Through Purdue Audit

Midwest Farmers Can Cut Energy Bills, Gain Federal Incentives Through Purdue Audit

👤By Shari Finnell, Purdue University 🕔Oct 27, 2017

Running a farm operation is a constant numbers game, with farmers constantly evaluating the costs of replacing equipment, fertilizer, feed and labor against market prices. Another significant cost comes in the form of monthly energy bills for electricity, gas, diesel

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2017 U.S. Farm Income Forecast Updated

2017 U.S. Farm Income Forecast Updated

👤By Keith Good, Farm Policy News 🕔Aug 31, 2017

Yesterday, the USDA’s Economic Research Service (ERS) released its August 2017 Farm Income Forecast.  This was the first revision of the initial net farm income forecast released by ERS in February.  Today’s update provides a recap of highlights from the farm

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USDA Updates Provide Snapshot of Farm Economy Variables

USDA Updates Provide Snapshot of Farm Economy Variables

👤By Keith Good, Farm Policy News 🕔Aug 8, 2017

Last week, USDA’s National Agricultural Statistics Service (NASS) released three important updates that provide current insight into the state of the U.S. agricultural economy.  The releases focused on land values, cash rents, and production expenditures. Meanwhile, USDA’s Economic Research Service

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Illinois: 2018 Crop Budgets – More of the Same

Illinois: 2018 Crop Budgets – More of the Same

👤By Gary Schnitkey, University of Illinois Ag Economist 🕔Jul 26, 2017

Crop budgets for 2018 now are available on farmdoc. In addition, 2017 crop budgets have been revised and 2016 returns and costs have been updated. Overall, 2018 budgets suggest more of the same economic conditions that have occurred since 2013.

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Arkansas: Costs and Net Return Trends for Field Crops

Arkansas: Costs and Net Return Trends for Field Crops

👤By Archie Flanders, University of Arkansas Extension Economist 🕔Jul 7, 2017

Recent years of low crop prices have been partially offset by reduced production costs. Net returns present two distinct eras: One period is ‘years subsequent to 2006’ with the other period being ‘years prior to 2006’. After favorable net returns

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