By Andi Anderson
Farmers in Central Illinois will get a chance to learn about important economic trends at an upcoming agriculture seminar in East Peoria. Farmdoc, a University of Illinois project known for supporting farmers through research and economic insights, will host the Illinois Farm Economics Summit on December 16 at the Par-A-Dice Hotel.
According to spokesperson Ryan Hanrahan, the event serves a clear purpose for producers and landowners facing financial pressures. He explained that the 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 summit will include sessions on market outlooks, management strategies, and the effects of major federal legislation, including the latest Farm Bill and the One Big Beautiful Bill.
Hanrahan said many farmers continue to face challenges from tariffs, rising costs, and broader economic uncertainty.
“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.”
Speakers will discuss ways to help farmers improve cash flow and manage higher input costs. Hanrahan noted that solutions are not always simple. “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.
One highlighted session 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 explained that Schnitkey has worked with Precision Conservation Management to study farm data and identify effective approaches in land leasing, ownership, and input cost reduction.
Farmdoc has offered this summit nearly every year since 2000. This session is one of three happening across Illinois, with others scheduled for December 15 in DeKalb and December 17 in Mt. Vernon. Sessions run from 8 a.m. to 12:30 p.m. Registration information is available online.
Photo Credit: istock-dusanpetkovic
Categories: Illinois, Business, Education, General