Iowa farmers will continue to experience uncertainty in commodity prices, interest rates and inflation into 2024 and beyond, making it advisable for ag producers to become educated and tactical in any decision-making efforts.

David Widmar, an agricultural economist with Agriculture Economics Insights, addressed a large crowd at the Iowa Farm Bureau Federation’s (IFBF) annual meeting in Des Moines last week. 

Widmar outlined the key trends he sees in agriculture and strategies for farmers to maintain profitability in challenging times.

“Now is the time coming off these last three years of really strong profits when there’s all this uncertainty in the macro­economy and interest rates,” Widmar said. “It’s easy to get paralyzed in the chaos of it all.

“We want to be very disciplined and strategic about how we’re deploying our profits and our efforts moving forward. Be intentional. Carve out time that’s not focused on the crop budgets, that’s not focused on marketing …, ...