Fall 2024 Wheat Planting Decision

By Greg Halich | Associate Extension Professor
Published on Sep. 27, 2024

Corn harvest is now underway and Kentucky grain farmers will soon decide if and how much wheat they will plant this fall.  Compared to last year there is a drop in both soybean and wheat prices, a drop in fuel price, and mostly stable fertilizer prices.

To Store or Not to Store? Old Crop Exit Strategies

By Grant Gardner | Assistant Extension Professor
Published on Aug. 29, 2024

The June Grain Stocks report indicated 37% more corn and 44% more soybeans stored on-farm than last year, indicating that many producers still have grain in storage (Maples, 2024). Some of this stock has likely been sold, but many producers are still sitting on old crops, trying to determine whether to hold through harvest or sell.

Drivers of Commodity Prices: Seasonality

By Grant Gardner | Assistant Extension Professor
Published on Jun. 27, 2024

Since the onset of COVID, agricultural commodity charts have resembled the track of a roller coaster, with huge peaks and valleys. During the 2023/24 marketing year, commodity prices have transitioned downward. We can likely expect less volatile commodity prices as prices level out.

ADM Requirements to Comply with New EU Regulation Impacting Kentucky Soybean Producers

By Grant Gardner | Assistant Extension Professor and Jordan Shockley | Associate Extension Professor
Published on May. 24, 2024

Starting December 24, 2024, the European Union (EU) will require all imported soybeans to be deforestation-free. The policy aims to prevent deforestation and promote sustainable agriculture practices. Consequently, soybeans destined for the EU market must be traceable back to specific fields where they are grown.

Spring 2024 Farm Observations Across Kentucky

Published on Apr. 29, 2024

The Kentucky Farm Business Management Program is a program of the Department of Agricultural Economics at the University of Kentucky.

Drivers of Commodity Prices: Exports

By Grant Gardner | Assistant Extension Professor
Published on Apr. 29, 2024

Since the onset of COVID, agricultural commodity charts have resembled the track of a roller coaster, with huge peaks and valleys. Global geopolitical events and conflict intensify these peaks and valleys. During the 2023/24 marketing year, commodity prices have transitioned downward.

Custom Machinery Rates Applicable to Kentucky (2024)

By Greg Halich | Associate Extension Professor
Published on Apr. 17, 2024

These custom rates are based on reported surveys in Ohio, Indiana, Missouri, Iowa, Wisconsin, and Kansas. The rates calculated here are averages for these states and are adjusted to account for changes in fuel price, machinery costs1, and wages2 from the time of the reported surveys.

Maximizing Value: 2024 Spring Application of Broiler Litter for Grain Crop Production

By Jordan Shockley | Associate Extension Professor
Published on Mar. 28, 2024

Spring is here and grain producers across the state are gearing up for planting.  One of the many decisions producers have to make before planting is in regard to their nutrient management plan.  Broiler litter provides a great opportunity as a complete fertilizer and is being produced and used throughout the state in grain production.  However,

Old Crop Balance Sheets and New Crop Projections: What would it take to get $6.00 Corn and $14.00 Soybeans?

By Grant Gardner | Assistant Extension Professor
Published on Feb. 28, 2024

The first projections for the 2024/25 crop year were released on February 15th at the Ag Outlook Forum (AOF). These estimates indicate a more bearish situation in the 2024/25 marketing year than we are currently experiencing in 2023/24. As we came out of COVID/Russia-Ukraine-induced highs, prices have fallen rapidly.

Grain Profitability Outlook 2024

By Greg Halich | Associate Extension Professor
Published on Feb. 28, 2024

Grain prices have dropped dramatically in the last year.  Current prices for 2024 new crop delivery are around $4.15/bu for corn, $11.00/bu for soybeans (2/23/23).  This is a decrease of around $1.00/bu for corn and $1.75/bu for soybeans compared to what these prices were expected one year ago (see Figure 1).