One of the great challenges for corn and soybean farmers in the coming year will be keeping the bottom line black, and that’s the title of a Purdue seminar on Wednesday morning December 15th at the Indiana Farm Equipment and Technology Expo. Presenting will be Dr.’s Jim Mintert, Michael Langemeier, and Nathan Thompson.
With soaring input prices, will it be possible to operate in the black?
“Well, I think it will but it’s going to be a much different picture than what we had in 2021,” says Dr. Mintert. “So, one of the challenges of course is to think about your crop mix and I think a lot of people right now are really wondering about, should I make a change in my acreage plans. Do I need to be switching from corn to soybeans or soybeans to corn? Do I want to plant 2nd year soybeans, and we’ll be talking about some of those topics and also talk about some risk management opportunities that might be available as well.”
The ag economists from Purdue and the Center for Commercial Agriculture will present updated crop budgets so farmers will get a better idea of what the break-evens will be in 2022.
“The input prices have skyrocketed across the board,” he said. “Fertilizer has gotten the most attention, but we’re looking at significant price increases for virtually every input that farmers are using in 2022, so we’ll have some updated estimates to give people some guidance as to what we’re looking at. Again, I think that will probably provide some input with respect to how they might manage risk for 2022.
That seminar is part of a full Wednesday lineup that includes Chad Colby and Purdue Extension on drones and Mike Silver & John Zanker on markets just before Keeping the Bottom Line Black.
Parking for the Expo at Grand Park in Westfield is free. The show and seminars are free as well.