Submitted by Deborah Cavanaugh-Grant, University of Illinois

The roller coaster ride continued this past year for Illinois agriculture, unfortunately, with more dips than rises. A major issue was the impact of the sharpest world-wide recession since World War II, which depressed demand and prices across the sector. Combined with rising input prices, planting delays, and H1N1 fears, this was a year of tremendous uncertainty by any standard. Looking forward to 2010, there is the possibility of better times due to recovery in the general economy and some lessened pressures on the cost side. However, this only emphasizes the need for sound economic information and analysis. The University of Illinois Extension and members of the farmdoc team from the Department of Agricultural and Consumer Economics will be holding a series of five Farm Economics Summit meetings to help producers navigate through these treacherous waters.

Speakers from the farmdoc team at the University of Illinois will explore the farm profitability outlook from several perspectives, including the direction of prices, outlook for farm returns, impact of speculation on farmer marketing decisions, climate change policy, farm programs and crop insurance, and implications of the economic crisis for agriculture. The format for the meeting will be fast-paced and allow plenty of time for questions from the audience.

The meetings are scheduled around the state during mid-December. More information and registration is now open on-line at: http://www.farmdoc.illinois.edu/IFES/2009/