Closing Market Report

ifr190726–193 MFP Impact on 2019 through 2023 Incomes and Financial Positions Krista Swanson, farmdocDaily Team - University of Illinois read farmdocDaily post Market Facilitation Program (MFP) payments in 2019 of $50 per acre will reduce financial erosion on farms. Still, incomes for 2019 are projected to be over $100,000 lower than 2018 incomes.

FOR BROADCAST ifr190705–178 2019 Northern Illinois Crop and Prevent Plant Budgets in July Gary Schnitkey, Agricultural Economist - University of Illinois Northern Illinois farmers have been facing the brunt of this season’s weather challenges. Their corn crop went in very late. Much of it after June the first. Up next we’ll hear an assessment of the damage as it relates to income potential. self contained 8:44 run time soq — FOR WEB ifr190705–178 2019 Northern Illinois Crop and Prevent Plant Budgets in July Gary Schnitkey, Agricultural Economist - University of Illinois by Gary Schnitkey link to farmdocDaily article Overall, projections suggest low returns for corn, soybeans, and prevent plant acres in Northern Illinois, an area that has been hard hit with wet weather, delayed planting, and prevent planting. Corn and soybean returns are projected to be lower than any year going back to 2000, even after including significant Market Facilitation Program (MFP)...

ifr190705–174 June Acreage Report Heightens Uncertainty Todd Hubbs, Agricultural Economist - University of Illinois by Todd Hubbs, University of Illinois Extension link to farmdocDaily article and video On June 28, the USDA released the Acreage and Grain Stocks reports. While the Grain Stocks report provided support for both corn and soybeans, the Acreage report indicated higher than expected corn acres and lower than expected soybean acres. The acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer. The 2019 June USDA Acreage Report rocked the corn market. University of Illinois Agricultural Economist Todd Hubbs explores those numbers in this interview with ILLINOIS Extension Farm Broadcaster Todd Gleason. A dramatic drop in principal crop acreage provided one of the many surprises in the Acreage report released on Friday. Driven by much lower soybean and wheat acreage, total principal cro...