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2017 Illinois Farm Economics Summit scheduled

Published November 14, 2017
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URBANA, Ill. – This year’s Illinois Farm Economics Summit will address the profitability of Illinois agriculture and how to manage financial stress. The University of Illinois Extension and members of the farmdoc team from the Department of Agricultural and Consumer Economics in the College of ACES is offering a series of five Farm Economics Summit meetings to help producers with key issues they’re facing.

“Although very good crops in many parts of the state in 2016 helped incomes recover, the story of Illinois agriculture continued to be one of managing financial stress,” says U of I agricultural economist Scott Irwin. “The stress has been brought on by low corn, soybean, and wheat prices, and costs of production that have adjusted somewhat slowly to the new price realities. Producers and landowners continue to face a series of difficult management challenges as they grapple with adjusting to the current environment of low grain prices.”

Speakers from the U of I farmdoc team will explore the farm profitability outlook and management challenges from several perspectives, including the 2018 outlook for crop and livestock prices, soybean yield trends, an update on the next farm bill, the financial position of Illinois farms, habits of financially resilient farm operations, and crop economics for 2018. The format for the meeting 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.

Sponsored by U of I Extension, the farm economics summit will be offered at five different locations during the month of December.

The dates and locations are as follows:

Monday, Dec. 18 - Dekalb, Faranda’s Banquet Center

Tuesday, Dec. 19 - Peoria, Par-A-Dice Hotel Casino

Wednesday, Dec. 20 - Springfield, Crowne Plaza

Thursday, Dec. 21 – Carlyle, Bretz Wildlife Lodge and Winery

Friday, Dec. 22 - Champaign, iHotel and Conference Center

Registration and coffee will begin at 7:45 a.m.  Sessions will begin at 8:15 a.m. and conclude at 1:30 p.m. The advance registration fee is $70 per person and includes lunch, refreshments, and all meeting materials. The online pre-registration deadline is Dec. 11, which includes a $5 discount. Registration at the door is $75 per person as space permits.

For questions about registration, contact Nancy Simpson (nsimp1@illinois.edu; 217-244-9687).

See the website for the complete  agenda and list of speakers.