2019
Farmer Profitability and Farm Management Communications
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Contributor/Checkoff:
Illinois Soybean Association
Category:
Sustainable Production
Keywords:
Economic studies
Parent Project:
This is the first year of this project.
Lead Principal Investigator:
Gary Schnitkey, University of Illinois at Urbana-Champaign
Co-Principal Investigators:
Project Code:
Contributing Organization (Checkoff):
Illinois Soybean Association
$35,000
Institution Funded:
University of Illinois at Urbana-Champaign
$35,000
Brief Project Summary:

Every farmer wants to find an edge from financial management tips to the latest tools, technologies and innovations, to practical research and in-season developments. The Farmer Profitability project connects with farmers throughout the state through our Profitability Radio program, while providing support for all ISA farmer-facing efforts related to technology, innovation and profitability via existing ISA communications vehicle. Specific goals include: identifying traditional and high-yield systems; identifying farmers willing to share information; collecting field pass and crop input information from farmers.

Key Benefactors:
farmers, agronomists, extension specialists

Information And Results
Project Deliverables

This project includes communications support for a planned extension of Gary Schnitkey’s Resilient Farmers research. For FY19, we will be looking at real-world finances of various soybean cropping schemes, including full-season beans in the north and south plus double-cropped soybeans. The project explores costs and ROI for both standard and high-input management approaches.

Identify traditional and high-yield systems. Two panels of individuals will be gathered, one along I-74 and the other along I-70 corridors. This panel will include experts in soybean production who have expertise in high yield systems and farmers, industry representatives, and Illinois Soybean Association staff.
Identify farmers willing to share information. The second step will be to identify farmers who are willing to share information about traditional and high yield systems and across the three rotations. Farmers will be willing to provide field passes on one or more of their soybean fields. These fields will be geo-coded so that soil type and other information can be obtained from the farm.
Collect field pass information from farmers. Representative will complete worksheets with farmers giving field passes.
Collect crop input information from farmers. Representatives will complete worksheets with farmers records inputs applied and cost.
Field information will be collected and summarized. This summarized information will then be used to prepare budgets and return on investment. Information will be share through Farm Doc, ILSoyAdvisor, extension, webinars and presentations.

Final Project Results

The United Soybean Research Retention policy will display final reports with the project once completed but working files will be purged after three years. And financial information after seven years. All pertinent information is in the final report or if you want more information, please contact the project lead at your state soybean organization or principal investigator listed on the project.