Risk and Profit Conference
Register online: http://commerce.cashnet.com/KSUagecon
See 2017 presentations HERE.
Markets and Government: Trade, Taxes and Transition
An annual conference hosted by the Department of Agricultural Economics that provides an opportunity for key agricultural decision makers to interact with each other and with faculty on important topics in agriculture.
Questions? Rich Llewelyn at email@example.com or 785.532.1504.
August 16 - 17, 2018
K-State Alumni Center
100 Alumni Center 1720 Anderson AveManhattan , KS
THURSDAY, AUGUST 17, 2018
10:30 am REGISTRATION
11:30 am – 12:15 pm LUNCH
12:15 pm – 1:30 pm GENERAL SESSION
Trade Policy Changes:
Risks and Opportunities for Agriculture
Dr. Richard Crowder, Virginia Tech University
1:40 pm – 2:30 pm BREAKOUT SESSION I
2:40 pm – 3:30 pm BREAKOUT SESSION II
3:40 pm – 4:30 pm BREAKOUT SESSION III
4:40 pm – 5:30 pm BREAKOUT SESSION IV
5:30 pm – 6:15 pm Social & Cash Bar
6:15 pm – 7:00 pm PRIME-RIB DINNER
7:00 pm – 8:15 pm GENERAL SESSION
A Conversation With a Kansas Producer
Bob Haselwood, Haselwood Farm Inc.
FRIDAY, AUGUST 17, 2018
7:45 am – 8:15 am ROLLS and JUICE
8:15 am – 9:15 am GENERAL SESSION
Grain Market Situation and Outlook
Dan O’Brien, Kansas State University
9:30 am – 10:20 am BREAKOUT SESSION V
10:30 am – 11:20 am BREAKOUT SESSION VI
11:30 am – 12:20 pm BREAKOUT SESSION VII
12:45 pm – 1:30 pm LUNCH
1:30 pm – 2:30 pm GENERAL SESSION
Livestock Market Outlook
Glynn Tonsor, Kansas State University
2:30 pm – 2:45 pm FINAL QUESTIONS and WRAP-UP
Ambassador Richard T. Crowder has a 50-year career of service to domestic and global agriculture through private, public and academic employment. He is currently serving as Thornhill Professor of Agricultural Trade in the Department of Agricultural and Applied Economics at Virginia Tech.
From January 2006 until May 2007 he served as the U.S. Chief Agriculture Negotiator where he was responsible for directing all U.S. agriculture negotiations worldwide including multilateral negotiations in the WTO as well as regional and bilateral negotiations. He served as a senior advisor to the United States Trade Representative from May 2007 until April 2008.
Before joining the U.S. Trade Representative office, he served as CEO of the American Seed Trade Association. His 30 plus years of domestic and international private sector experience includes senior management positions in a number of companies throughout the food industry including The Pillsbury Company, Armour-Swift Eckridge, DEKALB Genetics and Wilson & Co.
He served as Under Secretary International Affairs and Commodity Programs for the United States Department of Agriculture from 1989-1992. In this role he was responsible for all USDA agencies dealing with international trade and development as well as domestic farm programs. He led the agriculture negotiations for the United States in the Uruguay Round and managed the 1990 Farm Bill process.
In January 2013, the American Farm Bureau Federation presented its highest honor, the Distinguished Service Award, to Ambassador Crowder at its annual meeting in Nashville, TN. He also received the USTR Distinguished Service Award for his service as Chief Agriculture Negotiator.
Ambassador Crowder earned B.S. and M.S. degrees from Virginia Tech and a PhD from Oklahoma State University in Agricultural Economics.
Bob Haselwood is the featured producer for the "Conversation with a Kansas Farmer" on Thursday night. Bob is a soybean, corn, and wheat producer in Shawnee county, just south of the Topeka city limits. He is currently farming 1,850 no-till acres. He has been 100% no-till since 1999.
Bob has been active in the Shawnee County Farm Bureau, the Kansas Farm Bureau, the Kansas Soybean Commission, and the United Soybean Board.
1. Update on the Tax Cuts and Jobs Act–Parts 1 and 2 (2 hours) - Roger McEowen and Mark Dikeman
2. Kansas Farm Finance Issues - Allen Featherstone and Robin Reid
3. Introduction to Farm Payroll - Anthony Ruiz and Mark Dikeman
Advances in machinery, technology, and methodology have allowed agricultural producers to gain tremendous efficiency advantages and allowed farm labor requirements to significantly decrease in recent decades. Yet many farms require one or more employees to perform tasks and make decisions imperative to successful operation. This talk focuses on basic Kansas and Federal payroll and tax regulations as well as things to consider before work begins, handling withholding, calculating paychecks, benefits, and tools to make the process smoother.
4. Family Living Expenses, Current Net Farm Income, and Effects on Farm Equity - Gregg Ibendahl
5. Factors Affecting Net Farm Income - Emily Carls, Terry Griffin, Gregg Ibendahl
6. Preparing Your Finances For Disaster - Sandra Myers
Everyone knows how to prepare your house, farm, or family for when disaster strikes. But what about your finances? Is your financial emergency kit prepared for a tornado, flood, fire or death? This session will help you decide how much you need to survive emergencies, avoid insurance snags, and figure out what you need to have at a moment’s notice when those disasters hit.
7. The Value of Social Capital in Farmland Leasing Relationships - Allison Pitts and Mykel Taylor
8. How Much Do Landlords Benefit From Agricultural Subsidies Versus Tenants? - Nathan Hendricks
Government subsidies are paid to tenants when land is rented under a cash rental agreement. However, landowners may still capture the benefits of subsidies if they adjust the rental rate. This session discusses new research that estimates how much direct payment subsidies were reflected in cash rental rates. We exploit the fact that direct payments were much higher in the Southern U.S. due to historical political favoritism of southern commodities. We compare cash rental rates from counties in the South with much larger direct payments to those in other regions that have similar expected market returns. The implications for who benefits from current Farm Bill programs will be discussed. .
9. Update on the Farm Bill - Mykel Taylor and Art Barnaby
10. Finding Successful 2018-2019 Grain Marketing Strategies - Dan O'Brien
11. Principles of Hedging Livestock Sales Using Futures Markets - Brian Coffey
This session will include a review of how to use futures and options positions to manage price risk in the cash market for livestock. Emphasis will be given to how a futures or options position changes a producer’s risk exposure and livestock basis. Several practical examples of basic futures/options strategies will be presented with time given at the end for questions and discussion.
12. High Frequency Trading in Agricultural Futures Markets: What Low Frequency Traders Need to Know - Joe Janzen
High frequency traders (HFTs) are new participants in the futures markets we rely upon to discover the prices of major agricultural commodities. This presentation describes what they are and why they trade corn, wheat, and cattle. Along the way, we will answer some common questions about HFTs, such as: If a farmer hedges with a futures contract, how likely is it that an HFT takes the other side of the trade? Do HFTs manipulate prices or make prices more volatile, and if so, how do they do it? What are the rules governing high frequency trading? Ultimately, how much confidence should producers, merchants, and end-users have in the futures markets?
13. Risk Management in Evolving Live Cattle Markets - Ted Schroeder, Glynn Tonsor, and Brian Coffey
The US live cattle cash market has experienced a substantial structural shift toward non-negotiated trade in recent years leading to sporadic trade across market regions. At times, US regions appear to be segmented markets. Meanwhile, the cattle market has realized immense price volatility making judicious price risk management by producers essential. However, hedging risk has also increased. This session will outline the nature of changes in live cattle cash markets over the past two decades and discuss how these changes have influenced ability to use futures markets to manage price risk.
14. Cow-Calf Profitability-Where to Focus Management For Success - Whitney Bowman, Dustin Pendell and Kevin Herbel
15. Impact of Climate Change and Geographic Movement of Cattle Production - Buddhika Mallika Appuhamilage and Glynn Tonsor
16. Attitudes Toward Groundwater Use in the Ogallala Aquifer - Bill Golden, Matt Sanderson, and Bridget Guerrero
17. Can Adjustment of Planting Dates Offset Warming Impacts for Kansas Sorghum Producers? – Noah Miller and Jesse Tack
18. Does Crop Insurance Enrollment Exacerbate the Negative Effects of Extreme Heat? A Farm-level Analysis - Madhav Regmi, Jesse Tack
This paper investigates the impact of government-sponsored crop insurance programs on farms’ financial stress and production risk of farms facing extreme heat stress. The findings on production risk suggest that insured corn is more sensitive to extreme heat than uninsured corn; however, insured wheat is as sensitive to extreme heat as the uninsured wheat. Thus, if moral hazard were the cause of the observed productivity divergence, it would seem to be a concern for some – but not all – crops. The results also demonstrate that crop insurance has reduced the financial stress of Kansas farm households. In particular, this research suggests that crop insurance might mitigate financial stress, but it also likely exacerbates production risk under extreme heat in the U.S. heartland.
19. The VSR Track Record for 2018 HRW Futures and Order of Fill - Dan O’Brien, Beth Yeager, Art Barnaby
20. Eliminating HPO Will Leave a Donut Hole in Farmers’ Coverage - Art Barnaby
21. Sustainable Growth Rates of Farmer Cooperatives: Who is Growing Broke? - Brian Briggeman and Nathan Smart
Many cooperatives are growing at an exceptional rate. Cooperative growth has been fueled by producer consolidation, a highly competitive marketplace and new opportunities through rising global demand. However, growth at an exceptional rate may be unsustainable and could potentially cause significant financial stress. Cooperatives could get so caught up in growing that they could create problems, or “grow broke.” The sustainable growth rate (SGR) is a financial metric used by many businesses to address this potential growth problem and can be used by cooperatives to ensure their long-run success. Thus, the objective of this research is to better understand the SGRs of cooperatives, provide baseline SGRs, determine key attributes of higher growth rate cooperatives and key indicators of SGR changes.
22. Perceptions about Conservation Practices On-Farm: Adopters vs. Non-Adopters - Jason Bergtold, Jeff Williams, Elizabeth Canales
Register online at: http://commerce.cashnet.com/KSUagecon.
Print BROCHURE and mail a check.
By August 13, 2018
Two-day Fee: $200
Additional member: $180
One-day Fee: $125
Additional member: $110
(Discount available if paying by check, but not by credit card)
After August 13, 2018
Two-day Fee $225
One-day Fee $150
Questions? Rich Llewelyn at firstname.lastname@example.org or 785.532.1504.
To Manhattan, Kansas and the K-State Alumni Center (17th & Anderson):
From the east: I-70 to exit 313. North on Hwy 177 to Ft. Riley Blvd then west to 17th Street. North (right) on 17th to Anderson Ave.
From the west: I-70 to exit 303. North on Hwy K114/K18 (Ft. Riley Blvd) to 17th St. North (left) on 17th to Anderson.
From the north: Hwy 77 south to Seth Child Rd (Hwy 113). South on Seth Child to Anderson Ave. East (left) on Anderson to 17th St.
|Holiday Inn - Campus|
Manhattan, KS 66502
Conference Rate: $99.95 + tax / night
Single or Double
Rates valid August 15, 16, or 17, 2018
Cut-Off Date: July 30, 2018
Use Group Code: RIS
|Four Points, By Sheraton|
530 Richards Dr
Manhattan, KS 66502
800.4.CHOICE or 785.539.5311
K-State Rate: $80 + tax / night
Single or Double
No Cut-Off Date: Ask for K-State Rate
Parking is available in the parking garage, but costs $1.50 per hour. In other lots, permits are required to park on the Kansas State University campus from 7 am to 5 pm Monday through Friday. Limited parking is available at the Alumni Center without a permit. A parking permit is included in the registration fee, but does NOT include the parking garage.
Permits will be available 10:00–12:00 on Thursday, August 18 at the Alumni Center driveway and at the entrance to the parking lot west of the Old Stadium or at the registration table throughout the conference. You MUST obtain your conference parking permit before parking your vehicle on campus. Hang this permit on your rearview mirror, facing the front of your vehicle. This permit is not valid in metered lots.
Parking is permitted only in areas designated for parking
Parking is not permitted on campus streets or drives
Please observe HANDICAP, RESERVED and NO PARKING zones; these are TOW ZONES and violators will be towed.
Limited parking is available in the Alumni Parking. Be sure to get an Alumni Center parking tag from the registration desk.
More parking is available in the lot west of Old Stadium (across Denison Avenue), north of the Catholic Church, using the parking permit.