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Vision 2020: The Road Ahead

During GrowingOn® 2020, Steve Johnson highlights the typical five to seven year ag cycles that occurred in U.S. production agriculture since the 1920s. These periods of time tend to be five to seven years reflecting low prices with compressed profit margins followed by a five to seven year period of higher prices with attractive profit margins. Could 2014 through 2019 be that low ag cycle?

Marketing and risk management strategies are more important than ever. Here are key messages from the meeting:

  • Do your research to evaluate crop insurance options and SCO coverage that are right for your operation. Your ARC/PLC decision will impact how these work together. Utilize online tools and your Crop insurance team at Farm Credit Services of America for assistance.
  • Don’t wait until the last minute to make your ARC/PLC decisions! Start gathering your operation’s data now. After January 10, more county level data will be available to help finalize your decision.
  • In this global ag economy, it becomes even more important to focus on your farm’s economics. Know your numbers and make a plan.

Steve Johnson presented in South Sioux City, Nebraska on December 6, 2019.

 
Steve Johnson

Steve Johnson has served as a farm and ag business management specialist for Iowa State University Extension and Outreach since 1999. He specializes in government farm programs, crop insurance, crop marketing, grain contracts, and farmland leasing. 


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FCSAmerica serves farmers, ranchers, agribusinesses and rural residents in Iowa, Nebraska, South Dakota and Wyoming. For inquiries outside this geography, use the Farm Credit Association Locator  to contact your local office.