URBANA, Ill. – Gary Schnitkey, a nationally recognized farm management expert, was honored as the Soybean Industry Chair in Agricultural Strategy in the Department of Agricultural and Consumer Economics during an investiture ceremony at the University of Illinois on April 24. 

Schnitkey, a professor of agricultural and consumer economics at U of I, specializes in crop insurance, farm management and farmland economies, and he is a leading expert in the economics of Midwestern crop farms.

“Dr. Schnitkey has a distinguished career of important contributions to teaching, research, and Extension related to farm economics and farm management,” says Sean Fox, head of the Department of Agricultural and Consumer Economics. “He is a prolific researcher, and his research is carried out in synergy with an award-winning Extension program. He is also an accomplished teacher and mentor for undergraduate and graduate students. We’re fortunate to have him as a faculty colleague in our department.”

Schnitkey conducts research and has published extensively on finance and risk management topics. He has authored three book chapters, 49 scholarly articles, 578 farmdocDaily articles, and numerous blog posts. His work directly impacts farmers and agribusinesses through innovative outreach programs, and he hosts 50 meetings annuallywith farmers and agribusinesses. He also teaches undergraduate courses in financial management and international agribusiness, connecting classroom teaching with real-world applications and impacts. 

“Illinois soybean producers are pleased to fund this endowed chair position within the University of Illinois Department of Agricultural and Consumer Economics, and equally pleased for Gary Schnitkey to have this role," says Illinois Soybean Association CEO Craig Ratajczyk. "Farmers are operating in a fast-paced, quickly evolving industry under the pressures of profitably producing enough food, feed and fuel for a growing world market. Schnitkey is a key partner in helping Illinois soybean producers manage risk to remain relevant in the marketplace."

Schnitkey earned his M.S. and Ph.D. in agricultural economics from the University of Illinois and spent ten years on the faculty at Ohio State University before returning to U of I as an associate professor in 1998. He was promoted to full professor in 2005.

The Soybean Industry Endowed Chair in Agricultural Strategy was funded in 1996 by the Illinois Soybean Board. The holder of the chair provides intellectual leadership, conducts research, educates students, and performs public service and outreach in the discipline of agricultural strategy, particularly as it relates to the soybean industry.