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| Outlook provides glimpse into ’11 growing season |
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The recent volatility of commodity markets has increased uncertainty for many farmers as they look to 2011 and beyond. Many crop producers locked in profits for next year when fertilizer late summer and sold 2011 grain. Others were not as fortunate.
Who can predict the economic future of agriculture? Some forecast from a pessimistic viewpoint, while others might be overly optimistic. Learning from well- known experts can shed a practical light on a challenging subject. Such a learning opportunity is just around the corner.
The 2010 Ag Outlook Meeting for Western Ohio and Eastern Indiana is slated for Dec. 17 from 11 a.m. to 3 p.m. at the Knights of Columbus, 8840 St. Rt. 47, Versailles in Darke County. Topics presented include the grain market outlook by Dr. Carl Zulauf; land and crop inputs outlook by Barry Ward; and Dr. Ian Sheldon discussing why the regulation of shadow banking is necessary. Registration begins at 10:30 a.m. followed by the first presentation at 11 a.m. Lunch after the first talk is provided by The Andersons Grain and Ethanol Group and Farm Credit Services.
“Grain Marketing” by Carl Zulauf, professor of agricultural, environmental and developmental economics, reviews American farmers relative inability to keep up with the demand for grain corn. The result of increasing use for ethanol, traditional livestock consumption and exports is a lower volume of corn in inventory, which is expected to be nearly depleted by the end of this production cycle. Zulauf will also give his perspective and insights on the next farm bill, which is scheduled to move through Congress in 2012.
“The Cost of Producing a 2011 Crop” will be addressed by Barry Ward, assistant professor and leader for farm business management. Input costs are increasing for the 2011 cropping year. Crop nutrient inputs have been a large part of the recent price swings. Ward will show how costs of inputs is likely to change for the next growing season as well as trends in cash rent and agricultural land values.
“The Impact of Shadow Banking Regulation” will be detailed by Dr. Ian Sheldon, Andersons Professor of International Trade at The Ohio State University. With Ian’s international experience, his comments on the shadow banking industry and the impact it has had on the economy are surprising and enlightening. Pre-registration of $15 is required to the Darke County Ohio State University Extension office, 603 Wagner Avenue, Greenville, Ohio 45331 by this Friday to guarantee yourself a seat, or plan to pay $20 at the door. Questions? Contact Ag Educator Justin Petrosino at 937-548-5215.
Managing taxable income can be challenging in any year when yields are good and prices are above average. Tomorrow night from 7:30 to 9:30 p.m. ET, Purdue University Extension is offering a farm tax management online educational program, which focuses on recent tax law changes and implications for producers. George Patrick, Extension economist at Purdue University, and David Frette, CPA from Washington, Ind. are the program leaders.
Topics to be discussed include a brief review of taxes and potential health care arrangements, an update on tax law and procedures, and an in-depth review of Section 179 expensing and additional first-year depreciation. Other topics include the deductibility of prepaid expenses, deferring income, farm income averaging, self-employment tax and a discussion of income tax management.
Sponsored by Purdue Extension, the program will be presented using Adobe Connect. Ohio producers with high speed internet access (DSL or faster) can watch the program “live” on Dec. 9 or the archived version. For further information, please go to www.agecon.purdue.edu/extension/programs/tax/ |
| 12/8/2010 |
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