Product, price, place, and promotion are important in marketing to current and potential buyers. In this episode, a continuation of the Farm Risk Management series, Ariana Torres, Renee Wiatt, and Jenna Nees join Brady Brewer to discuss contingency planning for marketing risk management. 

This series is based on the Six Pillars of Farm Risk Management course, funded by the North Central Extension Risk Management Education Center.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this farm risk management series and resources at https://purdue.ag/farmriskmgmt. More information on contingency planning is on the Purdue Institute for Family Business' website https://purdue.ag/fambiz.

Farms and agribusinesses are confronted by many different types of risk in today's market, including social media. In this third episode in the Farm Risk Management series, Purdue University's Jenna Nees, Renee Wiatt and Ariana Torres join Brady Brewer to discuss social media's impact on businesses and how to build a contingency plan to protect your farm.

This series is based on the Six Pillars of Farm Risk Management course, funded by the North Central Extension Risk Management Education Center.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this farm risk management series and resources at https://purdue.ag/farmriskmgmt. More information on contingency planning is on the Purdue Institute for Family Business' website https://purdue.ag/fambiz.

Purdue agricultural economists Nathanael Thompson, Michael Langemeier, and James Mintert discussed the corn and soybean outlook following USDA's February World Agricultural Supply and Demand Estimates (WASDE) report and provided implications for crop marketing strategies on February 10, 2023.

Monthly Outlook provided by Purdue University's Center for Commercial Agriculture. Slides and the transcript from the discussion can be found at https://purdue.ag/webinar021023.

Find the FULL video episode on our YouTube channel, Purdue Center for Commercial Agriculture, visit https://youtu.be/PpEn7yzReCY to subscribe and watch.

Why should you think like a Chief Financial Officer (CFO)? Every farm needs someone to fulfill the CFO role, with or without the title of CFO. Sometimes the role of an accountant and CFO are confused. A CFO uses accounting information to help project what's going to happen on a farm, going well beyond the accounting function. Most farms already have a balance sheet in addition to cash income and expense information that can be used for taxes. That's an accounting role. The individual on the farm with CFO responsibilities is responsible for putting together a set of financial statements and analyzing the information contained in these statements. A farm manager who thinks like a CFO can leverage balance sheet and cash flow information to develop accrual income, sources and uses of funds, and owner’s equity statements which can be used to ensure the farm is well positioned for the future. Join Purdue ag economists Michael Langemeier and James Mintert for an episode discussing why you should think like a CFO for your farm operation.

This episode begins a new series on farm financial management. The next episode will be released in a few weeks.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this farm financial management series and related resources at https://purdue.ag/farmfinancialmgmt. 

New! You can find the FULL video episode on our YouTube channel, Purdue Center for Commercial Agriculture. Visit https://youtu.be/DUAD_BWp7yM to subscribe and watch.

The Purdue University-CME Group Ag Economy Barometer Index rose again in January, to a reading of 130, 4 points above its 2022 year-end index value. The January survey results also pushed the index 34% above its 2022 low point which occurred last June. The barometer’s modest rise in January was primarily attributable to better expectations for the future as the Future Expectations Index rose 5 points to 127 while the Index of Current Conditions, with a value of 136, changed little compared to December. This month’s survey was conducted from January 16-20, 2023. The full report is available at https://purdue.ag/agbarometer.

Podcast provided by Purdue University's Center for Commercial Agriculture. For more economic information and insights on the Ag Economy Barometer, visit us at http://purdue.edu/commercialag.

Basis is an important component for crop producers to consider when marketing grain because it is used to convert the futures price to a local cash equivalent. Futures prices and basis follow different seasonal patterns so the ability to manage futures price risk and basis risk independently creates an opportunity to improve returns. Join Purdue ag economists and co-creators of the Purdue Crop Basis Tool, Nathan Thompson and Jim Mintert for an episode discussing the advantages of using the Center’s Crop Basis Tool, available for corn and soybeans in Illinois, Indiana, Michigan, and Ohio.

This episode begins a new series on crop marketing. The next episode will cover thumb rules to use when forecasting basis, released in a few weeks.

Podcast provided by Purdue University's Center for Commercial Agriculture. Find the rest of this crop marketing series and related resources at https://purdue.ag/cropmarketing. 

New! You can find the FULL video episode on our YouTube channel, Purdue Center for Commercial Agriculture. Visit https://youtu.be/tNHOQ6sazFw to subscribe and watch.

With egg prices up nearly 75% and grocery bills on the rise, Jayson Lusk, Distinguished Professor and Department Head of Agricultural Economics joins Brady Brewer to discuss food price inflation. Jayson is also the Director of the Purdue Center for Food Demand Analysis and Sustainability (CFDAS) which provides dashboards and reports on food data, emerging topics, and consumer trends. Although food prices have been on the rise since the onset of the COVID-19 pandemic, certain grocery items have risen more than others. Jayson shares why many livestock producers are scaling back, the effects of supply chain issues, and how food inflation is affecting consumer spending and preferences.

Podcast provided by Purdue University’s Center for Commercial Agriculture. You can find the CFDAS’s dashboards and the latest report by visiting the CFDAS’s website at https://ag.purdue.edu/cfdas. Slides from this discussion can be found at https://purdue.ag/3XWXZWI.

If you enjoyed this podcast, tweet us using #AgCast.

In this episode, Purdue’s Brady Brewer was joined by Michael Langemeier, associate director of Purdue’s Center for Commercial Agriculture and Jason Henderson, senior associate dean of Purdue’s College of Agriculture and professor of agricultural economics. The podcast episode was a follow-up to the panel discussion the group had at the 2023 Purdue Top Farmer Conference focused on the U.S. economy, the Federal Reserve’s policy choices in 2023 and what it means for interest rates and the farm economy. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

Associate Professor of Agricultural Economics at the University of Kentucky Tyler Mark joined Purdue's Brady Brewer at the 2023 Purdue Top Farmer Conference to discuss the machinery market. In this episode, the two discuss key factors related to machinery prices, and what buyers should be thinking about as they make equipment purchase decisions in 2023 and 2024. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.

Purdue's Brady Brewer was joined by R.D. Schrader, President of Schrader Real Estate and Auction Co., and Howard Halderman, President and CEO of Halderman Real Estate and Farm Management at the 2023 Purdue Top Farmer Conference to discuss land values. In this episode, Brewer, Schrader and Halderman give insights into what is in store for the farmland market, how interest rates may impact farmland markets, and the impact of institutional buyers. 

Podcast provided by Purdue University’s Center for Commercial Agriculture. More farm management news and information can be found at http://purdue.edu/commercialag.