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The direct costs of soybean production in the Brazilian State of Mato Grosso have increased at a similar rate to those in Illinois since 2016. Direct input costs in Brazil…
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International concern about supply disruption and spikes in crop prices accompanied the outbreak of the Ukraine-Russia War, the largest armed conflict in Europe since World War II.  However, world grain…
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Introduction Thanksgiving meals often conjure up images of Norman Rockwell-esque tables piled high with big turkeys. US consumers are expected to buy 5 billion pounds of turkey in 2023 (USDA…
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The purpose of this article is to document the relationship between actual subsidy rates and loss ratios in crop insurance products, and to provide implications for policy initiatives that are…
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As harvest is wrapping up for 2023 and we begin to near the end of the calendar year, it is a good time to review your records and either start or update income tax plans. With large inventories of 2022 crops carried into 2023 as well as the potential higher prices received for the 2022 crop, many grain farms will have higher amounts of taxable income. Therefore, evaluate your operation to understand your needs to help plan for your targeted level of taxable income.
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If Congress chooses to protect Inflation Reduction Act investments, the public funds will be certain to reach farmers and the public will receive benefits from the conservation practices implemented by farmers with the funding. If, however, Congress chooses to use the funds to cover the CBO projections for increasing reference prices, any payments are far less certain, will go to fewer farmers if they are triggered, and any benefits to the public are much less direct and far more questionable.
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Consecutive drier growing seasons have depleted deeper layer soil moisture and dropped water table levels across much of Illinois. Without near to wetter than normal conditions in winter, dry soil conditions could persist into the spring. El Niño conditions in the Pacific increase the chances of drier and warmer than normal weather, which could also impede longer-term drought recovery, especially in parts of western Illinois that have accumulated the largest deficits since the start of 2022.
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