outlook

Key Risks Keep Ag Outlook Cool

Dan Economy, Industry News Release

The Kansas City Federal Reserve Bank says the outlook for agriculture remains down, but is beginning to show signs of stabilization. The bank notes that while aggregate measures of farm income are significantly lower than in previous years, the farm income forecast for 2017 was relatively unchanged from the 2016 estimate. Although farm income was expected to stabilize, growing inventories …

optimistic

Farmers Are Becoming Less Optimistic About the Future

Dan Economy, Industry News Release

For the second-straight month, the Purdue University/CME Group Ag Economy Barometer dipped lower, coming in with an index of 126 in December. That number was the lowest since March of last year and the second-lowest of 2017. The decline is driven entirely by producers becoming less optimistic about the future. The Future Expectations Index was recently at 137 in October, …

rural prosperity

Rural Prosperity Report Released at Farm Bureau Convention

Dan Economy, Industry News Release

The president’s task force on rural prosperity officially released its report on Monday at the Farm Bureau national convention. Politico says Cabinet officials made a lot of recommendations in the report for improving the quality of life in rural America, including more online connectivity and more training programs. The report says that only 39 percent of rural America is able …

rural prosperity

Ag and Rural Prosperity Report Given; Ag Groups Respond

Dan Economy, Industry News Release

The following is a statement from American Seed Trade Association President & CEO Andrew W. LaVigne: “We’re pleased that the Trump Administration recognizes the critical importance of U.S. agriculture and the rural economy. Under the strong leadership of Secretary of Agriculture Sonny Perdue, the Agriculture and Rural Prosperity Task Force is taking positive steps to identify and address some of the …

crop

Stable Forecast for U.S. Crop Prices Forecast

Dan Economy, Industry News Release, Wheat

U.S. grain prices and crop demand for 2017-2018 will likely show no major changes, according to Dr. Keith Coble, former chief economist for Senate Agriculture Committee Republicans and the head of the Agricultural Economics Department at Mississippi State University. Coble spoke to workshop attendees during the American Farm Bureau Federation’s 2018 Annual Convention & IDEAg Trade Show about global crop …

Expert Says Being Proactive Key to Farm Succession

Dan Economy, Industry News Release

The main key to passing the family farm from one generation to the next is being proactive, according to Oklahoma State University professor, Dr. Shannon Ferrell. Ferrell is an attorney, associate professor, and agricultural law specialist at Oklahoma State University. This week he’s been the keynote speaker at a series of downstate Illinois meetings hosted by Farm Credit Illinois. Dr. …

farmers

Tax Reform Will Benefit Ag Community in Many Ways, Right Away

Dan Economy, Industry News Release

A U.S. representative from Washington State says the end of 2017 tax reforms will benefit agriculture immediately. Central Washington representative Dan Newhouse says there will be many benefits to the ag industry, and many, right away. Tax Newhouse added, while a few details have yet to be realized, and some of the benefits will not take place immediately, he’s confident …

optimism

Index Shows Farmer Optimism Increasing

Dan Economy, Industry News Release

A survey of farmers shows optimism is increasing in the Midwest farm country, despite continued low prices. The latest DTN/The Progressive Farmer Agricultural Confidence Index found increasing optimism, posting an overall score of 113, up 9 points from August and 15 points higher than the “Trump Bump” survey of a year ago. The so-called “Trump Bump” represented an increase in …

crop prices

2018 Crop Prices Outlook

Dan Economy, Industry News Release

A University of Illinois economist expects 2018 crop prices to remain below high levels seen earlier this decade due to global inventories. Economist Todd Hubbs explains that global economic growth continues to build on the momentum seen over the last year, offering some limited upside for demand. Growth in China and emerging markets in Asia is projected to remain strong …