University of Illinois Extension
Registration Open for 2020 Virtual Illinois Farm Economics Summit

[November 24, 2020]    The 2020 Virtual Illinois Farm Economics Summit (IFES), organized by the University of Illinois Extension and the Department of Agricultural and Consumer Economics. IFES is specifically designed for farm operators, lenders, land owners, and other agribusiness professionals.

Due to COVID, this year the event will be virtual rather than in-person.

This year, IFES will consist of 5 webinars each covering an individual topic on December 1, 4, 8, 11, and 15. Each webinar will be from 11am to noon CST. The webinar will be 30 minutes of presentation and 30 minutes of Q&A.

Topics Include:

Tuesday, December 1:  2021 Market Outlook for Corn and Soybeans Presenters: Scott Irwin and Joe Janzen Description: In a year stricken by the coronavirus pandemic and an extremely severe economic contraction, corn and soybean prices have risen to levels that seemed impossible just a couple of months ago. A critical question for 2021 is the likelihood of sustaining corn prices near $4 and soybeans near $11. In this webinar, they will discuss the 2021 supply and demand outlook for corn and soybeans and the longer-term outlook for trade with China.

Friday, December 4: 2020 and 2021 Grain Farm Income Outlook with Risk and Rental Implications Presenters: Gary Schnitkey and Dale Lattz Description: Grain farm incomes in 2020 were supported by above-trend yields, higher prices than expected, and several forms of Federal payments. These 2020 incomes serve as a backdrop for 2021 income projections. Sufficient 2021 incomes will be dependent on a combination of above-trend yields and continued Federal payments.

Risk management will be critical, and several new tools are available this year. Levels of cash rental likely will depend on continued Federal payments.

Tuesday, December 8: Farm Program and Crop Insurance Decisions for 2021 Presenters: Nick Paulson, Gary Schnitkey, and Jonathan Coppess

Friday, December 11: Straining the alphabet soup: Post-election farm policy outlook after three years of ad hoc farm payments Presenters: Jonathan Coppess and Joe Janzen

Tuesday, December 15: Farmland Markets and Macro Markets Presenter: Bruce Sherrick

Registration is free and you only need to sign up once for the entire IFES series. More information and registration can be found at the conference website at http://farmdoc.illinois.edu/ifes.

[Terri Miller, MPA
County Director
Serving Logan, Menard, and Sangamon Counties
UNIVERSITY OF ILLINOIS EXTENSION]