Students on the International Business Immersion Program are blogging while they are in Europe May 12-28.  See it here:

http://ibip.illinois.edu/trip/europe-2012

The national finalist NAMA (National Agri-Marketing Association) team's final presentation is available to view at:

http://www.youtube.com/watch?v=-sf4f1TZPBs&list=UUS5mDcaKKkkaGMJrS33MBqQ&index=5&feature=plcp

The USDA's projections of U.S. and world corn and feed grain supply-and-demand conditions presented in the May World Agricultural Supply and Demand Estimates (WASDE) report set the benchmark by which the corn market will judge unfolding events.  According to a University of Illinois agricultural economist, those events are continually unfolding, with some of the more important ones to be revealed this summer.

A new study that looked at the hunger trends over a 10-year period found that 14.85 percent of seniors in the United States, more than one in seven, face the threat of hunger. This translates into 8.3 million seniors.

ACE senior Chris Skopec is graduating May 12 but he is keeping his pedicab entrepreneurial business here on campus -- a pedicab.  Here's a story by WCIA Channel 3.

http://illinoishomepage.net/fulltext?nxd_id=368002

University of Illinois NAMA Chapter Ranked In Top 6 in the Nation

Illinois student NAMA chapter is all smiles after placing in the top 6 of the country. Agricultural Communications students Ben Rakes, sophomore, is pictured back row third from right, and Mitch Hiett, senior, is pictured back row on the right.

ACE 199, Agribusiness Leadership and Policy, is spending spring break, March 17-23, in Washington DC to watch up close how agribusiness policy is made.  Their blog, available at www.ace.illinois.edu/agleadpolicy is being updated daily with information and photos.  Check it out!

The 45th Annual Top Farmer Crop Workshop will be held on July 9- 11, 2012 on the Purdue University campus in West Lafayette, IN.  It is designed for farmers who are seeking to improve their farming operations through better management.  For the first time, the workshop will be held in partnership with the University of Illinois.

The workshop will include presentations and breakout sessions on how to handle economic, agronomic and technological opportunities and challenges that represent diverse viewpoints of academics, agribusiness and farmers.

Farmdoc daily, a website designed to focus on “Corn Belt farm economics,” has reached a unique milestone. The fledgling website, directed at the commercial agriculture sector, has published one original article of research-based analysis and information every business day since it was launched on March 17, 2011.

With 2011-12 marketing year-ending stocks of U.S. corn expected to be near pipeline levels, the size of the 2012 crop has substantial price implications, according to University of Illinois agricultural economist Darrel Good. Acreage intentions will be revealed in the USDA's March 30 Prospective Plantings report, but much of the current discussion centers on prospects for the U.S. average corn yield.

Canada’s response to the “milk wars” in the United States in the 1970s was to establish a supply management system that both protects and restricts the income of its dairy farmers. A University of Illinois study examined how the government regulation affects farmers’ perceptions and found a climate of trust despite the inefficiency in milk production it maintains.

Saving money can be a challenge even in the strongest of economic times, and according to a University of Illinois Extension consumer economics educator, an increasing number of Americans are having difficulty saving money for everything from emergencies to retirement.

"The most important thing about savings is just to do it," said Kathy Sweedler. "Make the change now to either start saving regularly or to increase the amount you are saving."

Most people have never felt the inside of a cow’s stomach, designed flowers to music or created their own soil profile. Everyone will have the opportunity to do these things and learn more about the University of Illinois College of Agricultural, Consumer and Environmental Sciences (ACES) at its ExplorACES event, March 9-10.

According to University of Illinois agricultural economist Darrel Good, "Although in December 2011, the USDA judged total corn production prospects in Argentina and Brazil at 3.54 billion bushels, that forecast was reduced by 120 million bushels in January and by an additional 160 million bushels earlier this month."

When food prices spiked in 2008, the number of households that moved into poverty was overestimated by about 60 percent, according to a recent University of Illinois study. In middle-income countries such as Mexico that have more diversity in their diets, households are able to substitute other foods and cope with the change in prices.“In 2008, there was a lot of quick-response research trying to measure the poverty effect across the world from the food price increase,” said U of I agricultural economist Carl Nelson.

 Beginning with the 2012 crop year, farmers purchasing crop insurance for corn and soybeans in 14 midwestern states will have the option to use the Trend-Adjusted Actual Production History (TA-APH) Yield Endorsement, allowing farmers to increase yields used in calculating crop insurance guarantees. According to University of Illinois Extension farm management specialist Gary Schnitkey, electing to take this endorsement will give farmers more coverage for the same cost.

 Although for many of us, diet and exercise changes appear at the top of the list of New Year’s resolutions, resolving to make changes in how we handle money will put our finances in better shape by next year. University of Illinois Extension consumer economics educator Kathy Sweedler recommends adding financial tasks to your calendar just like you’d add going to the gym three times a week.

If your income dropped over the last few years, you may be eligible for some income tax credits that you haven’t been able to claim before, said University of Illinois Extension consumer economics educator Karen Chan.

Low-income families and individuals who had earned income in 2011 could receive up to $5,751 from the Earned Income Tax Credit (EITC). “This credit is refundable, meaning that you could get money back even if you paid no tax or owe no income tax,” Chan said.

With mounting concerns over childhood obesity and its associated health risks in the U.S., would a ban on junk-food advertising aimed at children be more effective than the current voluntary, industry-led ban? According to published research from a University of Illinois economist, advertising bans do work, but an outright ban covering the entire U.S. media market would be the most effective policy tool for reducing fast-food consumption in children.

Joe Glauber, Chief Economist for the United States Department of Agriculture (USDA) speaks to a group of ACE faculty and students as well as partners about the farm bill issues, upcoming debate, and historical cycles of the bill. 

University of Illinois professor of economics Angela Lyons has been chosen to be a Blue Ribbon Judge for The iOMe Challenge, a national college contest that is focused on challenging college students to change the world by investing in their future today.

 Corn and soybean prices have declined sharply since the release of the USDA's November Crop Production report that contained smaller forecasts of the size of the 2011 harvest for both crops. In addition, the historically strong corn basis has begun to weaken in many markets, said University of Illinois agricultural economist Darrel Good.

Grain farms with a higher percentage of acres cash rented will have much lower incomes when commodity prices decline than farms with lower percentages cash rented, according to University of Illinois agricultural economist Gary Schnitkey.Schnitkey used a 1,200-acre cash grain farm to illustrate four different price scenarios. The farm has expected yields of 187 bushels of corn and 54 bushels of soybeans, grows corn on two-thirds of its acres, has non-land costs of $546 per acre for corn and $306 per acre for soybeans, and has $480,000 of debt.

People who do freelance writing or sales can calculate how many hours they’ll have to work or how many widgets they’ll need to sell to net a certain income but what about farmers? University of Illinois agricultural economist Gary Schnitkey wanted to calculate some of the variables farmers have to juggle to determine how commodity prices and other costs combine to equal a net income of $50,000.

Many Illinois farmers have been disappointed with 2011 corn-after-corn yields, reporting significantly lower corn-after-corn yields compared to corn-after-soybean yields.  To provide guidance for 2012 planting decisions, University of Illinois agricultural economist Gary Schnitkey calculated the break-even corn-after-corn yields for farms in northern, central Illinois with high-productivity farmland, central Illinois with low-productivity farmland and southern Illinois regions. 

Corn prices have traded in a sideways pattern since mid-October, but are currently in the lower end of the recent range, said a University of Illinois agricultural economist."Soybean prices have trended lower over the past month with January futures now back near the early October lows," said Darrel Good.

Professor Emeritus Donald L. Uchtmann received the 2011 Excellence in Agricultural Law Award from the American Agricultural Law Association during the 32nd Annual Agricultural Law Symposium on October 20-22, 2011 in Austin, Texas.  Congratulations Don!

Dr. Donald Uchtmann, Emeritus Professor in Agricultural Law, received the Excellence in Agricultural Law Award from the American Agricultural Law Association.  

As the price of natural gas goes up, the cost of producing anhydrous ammonia rises as well, according to a recent report from the University of Illinois.

"The two are related because natural gas is a major input into the production of anhydrous ammonia," said agricultural economist Gary Schnitkey. "It is the major variable cost item in the production of anhydrous ammonia."

Schnitkey's team looked back at the ratio of anhydrous ammonia divided by natural gas prices (anhydrous per ton and natural gas per 1,000 cubic feet).

The 2012 University of Illinois Corn & Soybean Classics will mark the 15th year of this educational program related to crop production and pest management.

"The 2012 program emphasizes crop production, pest management, economics, and the interactions among them," said Aaron Hager, U of I Extension weed specialist. "Market updates will be provided throughout the day, and communication between speakers and participants is encouraged."

The dates and meeting locations for the 2012 Corn & Soybean Classics are:

The theme of this year’s Illinois Farm Economics Summit is “The Profitability of Illinois Agriculture: Managing in a Turbulent World.” To assist producers in navigating these challenges, a series of five meetings are scheduled across Illinois in December sponsored by University of Illinois Extension.

Dates and locations are:

* Monday, Dec. 12 --Champaign, I Hotel and Conference Center

* Tuesday, Dec. 13—Sycamore, DeKalb County Farm Bureau

INTERNATIONAL BUSINESS IMMERSION PROGRAM, ACE/BADM 436 APPLICATIONS NOW AVAILABLE! www.ibip.illinois.edu 
DEADLINE TO APPLY NOVEMBER 1, 2011.
Don’t miss this opportunity to study international agribusiness supply chains by experiencing them first-hand in Europe!

The program has three components: a course in the Spring Semester of 2012 (Tuesdays 3:30-5:20pm) , a two-week study tour to Europe from
May 12-26, and a final presentation in the fall of 2012.
IBIP Info Sessions:

Wednesday, October 12, 2011

Andrea H. Beller won the 2011 American Council on Consumer Interests, Stewart M. Lee Consumer Education Award. The Award is given to an individual or organization who/which has made significant contributions to the field of consumer education and whose contributions will have been over a long period, but single, uniquely outstanding contributions of lasting impact may be recognized as well. Contributions may be for teaching, research, or service to consumer education.

Although home values have gone down, the value of Illinois farmland is up by 18 percent. According to an August 4th report released by the U.S. Department of Agriculture, the price of Illinois farmland averaged $5,800 per acre in 2011, an increase of 18 percent over the 2010 level of $4,900. 

Most discussions about investing focus on stocks and bonds, but how to own them also needs to be part of the discussion.
“You can own individual stocks or bonds, buy shares of a mutual fund that holds stocks or bonds (or both), or buy shares of an Exchange Traded Fund,” according to Karen Chan, certified financial planner and consumer economics educator with University of Illinois Extension.

The first recipients of the National Food MarketMaker Innovation Awards are Ohio and South Carolina. The awards, sponsored by Farm Credit, were presented June 27 in Pittsburgh, PA at the National Value Added Agriculture Conference.

 As baby boomers and their children grow older, a greater number of people are looking for reliable answers to questions about long-term care for their parents, a spouse or themselves – answers that are not always easy to find. University of Illinois Extension has created a website to help people learn about long-term care options and take concrete steps to prepare for the possibility of long-term care.

ACE Professor recipient of national teaching award

ACE Professor Alex Winter-Nelson was one of nine winners from the University of Illinois College of Agricultural, Consumer and Environmental Sciences (ACES) who brought home awards from the 2011 North American Colleges and Teachers of Agriculture (NACTA) Conference hosted by the University of Alberta in Edmonton.

Jeanne Louise Hafstrom, a former Associate Professor of Family and Consumer Economics at the University of Illinois passed away at the age of 81 on May 18, 2011 at the Provena Covenant Medical Center in Urbana.

She was born on July 28, 1929 in Rensselaer, Indiana to Harlin and Margaret Hafstrom. Her family includes one sister- Karen Hafstrom of Chicago, 2 nieces and 1 cousin.

ACE Senior Margaret Jodlowski, from Chicago, is interning at the University of Illinois' Dixon Springs Agricultural Center this summer with a delegation of 10 ACES students.  Margaret is interested in sustainable international development, environmental education, and biofuels. This summer, working with faculty advisors Pete Goldsmith and Madhu Khanna, she will look at the market structure and feasibility for Miscanthus, a grass that can be processed into biofuels. When she graduates, she plans to work towards a Ph.D.

The 13th Annual Illinois Leadership Conference will be held Wednesday, June 15, from 8:30 a.m. to 4 p.m. at the I-Hotel and Conference Center, 1900 South First Street, Champaign.

Two weeks ago, corn prices were declining rapidly, and experts pondered the likelihood of a recovery similar to those of September 2010, November 2010 and March 2011. The answer came quickly, said University of Illinois agricultural economist Darrel Good.

“By May 23, July 2011 futures traded within 14 cents of the contract high, and December 2011 futures traded within 7 cents of the contract high on May 19,” Good noted.

The USDA’s report of World Agricultural Supply and Demand Estimates (WASDE) released on May 11 refocused the market’s attention on world crop production and the implications for rebuilding U.S. and world stocks, said a University of Illinois economist.

It’s decision-making time again for farmers, and the recent wet weather only complicates these issues. Should I delay planting corn? If I do, how will that decision affect the yield later? Should I consider switching from corn to soybeans?

A new spreadsheet entitled Planting Decision Model has been developed on the University of Illinois farmdoc website to provide some answers for farmers, according to agricultural economist and farm management specialist Gary Schnitkey.

A new study on hunger entitled “Map the Meal Gap” is the first study to identify the county-level distribution of over 50 million food-insecure Americans.

“Until now, we could only compare the data by state,” said Craig Gundersen, University of Illinois associate professor of agricultural and consumer economics and executive director of the National Soybean Research Laboratory who led the data analysis on the project. “Having this data by county has the potential to redefine the way service providers and policy makers address areas of need.”

Farmdoc and 4-H receive portion of $2 million gift from Farm Credit Services

URBANA – Two popular University of Illinois programs will benefit from a $2 million investment from Farm Credit Services of Illinois and 1st Farm Credit Services. An announcement was made in late December that the two organizations each gave a $1 million endowment to agriculture programs that educate young people, train future agricultural leaders, and support higher education agriculture.

Associate Professor Craig Gundersen has been selected as the Director of the National Soybean Research Laboratory (NSRL) at the University of Illinois in Urbana – Champaign, according to Robert Hauser, Dean of the College of Agricultural, Consumer and Environmental Sciences (ACES).

The transcript of Congressional testimony by Paul N. Ellinger on May 13, 2010 provides background and expertise regarding the finance and credit issues facing agriculture and rural America.

Dr. Ellinger's testimony is available on the Farmdoc website. 

To help producers navigate another season of agricultural challenges, University of Illinois Extension has scheduled the 2010 Illinois Farm Economics Summit, a series of five December meetings to be held across Illinois. The theme is “The Profitability of Illinois Agriculture: Managing in a Strong Ag Economy.”

“A major issue over the past year was the weather, with the wettest and latest harvest in memory, a deluge of spring and summer rainfall in some places, and hot everywhere,” said Scott Irwin, U of I professor of agricultural and consumer economics.

Unlike many other assets whose values have tanked this past year, farmland prices have not fallen during the recent troubled economic times. A recent University of Illinois report examined this phenomenon in an installment of Farm Economics Facts and Opinions. 

Visit the Farmdoc website for more details. 

The current legislation that enables ethanol blenders to receive a 45 cent per gallon incentive expires at the end of the year. In anticipation of new legislation, a proposal was developed by University of Illinois economists for a variable incentive program that could save U.S. taxpayers more than $13 billion.

Visit the Farmdoc website for more information.