Central Illinois farmers will get a chance to learn more about economic trends in the agriculture industry at an upcoming seminar in East Peoria.
Farmdoc, a University of Illinois project primarily comprised of ag industry economists and researchers seeking to help farmers operate their businesses, will present its Illinois Farm Economics Summit on Dec. 16 at the Par-A-Dice Hotel.
Spokesperson Ryan Hanrahan says the farmdoc summit has a “two-fold” purpose.
“Primarily it’s just helping producers, landowners navigate the economic conditions and policy issues that they're currently facing,” he said. “Then it also gives folks an opportunity to interface directly with our experts, let them ask questions and really get some one-on-one time for specific things they may be dealing with in their operations.”
The half-day seminar will feature sessions on the market outlook, management strategies, and discussion regarding impacts from federal legislation such as the latest Farm Bill and the One Big Beautiful Bill.
“Certainly, tariffs are having an effect, and I think we’re also hearing about broader economic issues,” said Hanrahan. “Cash flow concerns would be maybe the ‘big buckets’ category right now that we're hearing from folks, about really just kind of being able to make it through to be able to get that next crop in the ground and get that next growing season going.”
Hanrahan says the summit will explore possible strategies to help farmers improve their cash flow and cope with higher input costs.
“Unfortunately, I'm not sure there's necessarily a straightforward answer to be able to find those pathways to more profitability, but we certainly hope to help,” he said, calling attention to on of the summit sessions that will be led by Illinois professor and farm management researcher Gary Schnitkey.
“Over this past year, he's been particularly focusing on management strategies under financial stress,” said Hanrahan. “He's been working with Precision Conservation Management to look at data from Illinois farms and see what's working for them, particularly in terms of farmland leasing, ownership and ways to be low-cost producers when it comes to some of those inputs like nutrients and ag equipment and machinery.”
Farmdoc has held the Illinois Farm Economics Summit almost every year dating back to 2000. The upcoming Peoria area summit is one of three being held across the state, with the other events set for Dec. 15 in DeKalb and Dec. 17 in Mt. Vernon.
Sessions begin at 8 a.m. and continue until 12:30 p.m. Find more information and register online.
