URBANA, Ill. – Speakers from University of Illinois Extension and the farmdoc team from the U of I Department of Agricultural and Consumer Economics will explore topics such as the 2019 outlook for crop and livestock prices, the farm profitability outlook and management challenges, the next farm bill, long-term trends in grain prices, and prospects for farmland values at the 2018 Illinois Farm Economics Summit in December.
Great crops in many parts of the state this year, along with Market Facilitation Payments on soybeans, are helping to support incomes in 2018. “Looking forward, the story of Illinois agriculture will continue to be one of managing volatility and financial stress,” says U of I agricultural economist Scott Irwin. “The stress has been brought on by low corn, soybean, and wheat prices, and especially the ongoing trade war with China.
“Producers and landowners continue to face a series of difficult management challenges as they grapple with adjusting to this highly volatile economic environment. What is the prospect for a recovery in grain prices? Should cash rents be lower? And if so, how much? What strategies can be used to weather the current tough times?”
The Illinois Farm Economics Summit meetings will be scheduled in five locations across the state during the month of December. Hosted by U of I Extension, the format for the meetings will be fast-paced and allow plenty of time for questions from the audience.
Irwin says farm owners, operators, ag lenders, and agribusiness professionals will benefit from the information presented at this year’s summit.
The dates and locations are as follows:
Dec. 17 – DoubleTree, Mt. Vernon
Dec. 18 – Crowne Plaza, Springfield
Dec. 19 – Par-A-Dice Hotel Casino, East Peoria
Dec. 20 – Faranda’s Banquet Center, Dekalb
Dec. 21 – I Hotel and Conference Center, Champaign
The registration fee for each location is $85 per person. Save $5 by registering online for $80. This fee includes all meeting materials, break refreshments, and lunch. Registration at the door will be $90 per person, as space permits. Register by Dec. 10.
Visit the conference website at http://farmdoc.illinois.edu/ifes/2018.