Risk and Profit Conference

     2025 Presentations     

Questions? Rich Llewelyn at rvl@ksu.edu.

Dates & Location
August 20 - 21, 2026

Manhattan

K-State Alumni Center
1720 Anderson Ave.
Manhattan , KS

Questions? Rich Llewelyn at rvl@ksu.edu

Schedule
2026 SCHEDULE

Thursday, August 20

    Registration: 9:30-10:00

    General Session I: 10:00-11:30 pm
        Gregg Doud, President and CEO, National Milk Producers Federation,
        and Former Chief Agricultural Negotiator in the Office of the U.S. Trade Representative
            "Ag Geopolitics, Competition and Security For 2030 and Beyond"

    Lunch: 11:40 am

    Breakout sessions:
             A) 12:40-1:30; B) 1:40-2:30; C) 2:40-3:30; D) 3:40-4:30; E) 4:40-5:30

    Social, cash bar, and hors d’oeurves: 5:30 - 6:30 pm

    Out on the town: 6:30 - ???
 

Friday, August 21

    Rolls and juice: 7:00-7:30 am

    General Session II: 7:30-9:00 am
             Grain Markets—Dan O’Brien; Livestock Markets - Glynn Tonsor

    Breakout sessions:
             F) 9:10-10:00; G) 10:10-11:00; H) 11:10-12:00

    General Session III: 12:15-1:00 pm
             Conversation With a Kansas Farmer - Eric Atkinson with Greg and Amy Sederstrom

    Lunch and Adjourn: 1:00 pm

Speakers

Thursday noon:  Gregg Doud, Former President and CEO, National Milk Producers Federation, and Former Chief Agricultural Negotiator in the Office of the U.S. Trade Representative

Gregg Doud is NMPF’s President and Chief Executive Officer. Before arriving at NMPF he served as the Chief Agricultural Negotiator in the Office of the United States Trade Representative from 2018 until 2021; before that, he served as the president of the Commodity Markets Council, representing commodities exchanges before Congress and federal agencies. He also has served as a staff member for the United States Senate Committee on Agriculture, Nutrition and Forestry, where he helped draft the 2012 Farm Bill, and as chief economist for the National Cattlemen’s Beef Association. Most recently, he worked at Aimpoint Research as its Vice President of Global Situational Awareness and Chief Economist.

A native of Mankato, Kansas, where he grew up raising cattle, Doud earned a Bachelor of Science degree in animal science and a Master of Science in agricultural economics from Kansas State University. He was awarded the Outstanding Young Alumnus of the Kansas State University Agriculture Alumni Association in 2012 and also received the Outstanding Alumnus award from the Department of Agricultural Economics at Kansas State in 2017. He currently lives with his family on their horse farm in Lothian, MD.

 

Friday noon: Kansas Farmer: Greg and Amy Sederstrom, Goodland, KS

The Sederstrom Family Farming Story

Greg and Amy Sederstrom began their farming journey in 1996. What started as a college romance blossomed into marriage and a life together in Eaton, Colorado. Although they enjoyed their life there, they dreamed of owning acreage where Greg could pursue his love of horses.

After a weekend of country home shopping with Amy's parents in Eaton, CO, a life-changing decision was made: they would move back home to Goodland and begin farming. That is where this story truly begins.

With no formal farming background, Greg started as a hired hand working for Amy's father. For approximately two years, he worked alongside him, learning the day-to-day realities of farming. After this invaluable apprenticeship, Greg and Amy rented ground from Amy's parents and officially began their farming adventure.

Fast forward to today, and the opportunity Amy's father gave Greg has grown into a multi-generational legacy.

Greg and Amy have two children. Their daughter, Nicole, discovered her passion in the horse industry. Today, she is a professional breakaway roper with the WPRA, traveling across the country to compete in rodeos from Pendleton, Oregon, to Fort Worth, Texas, and many places in between. Nicole is married to Jhett, a licensed real estate agent and owner of Bullseye Services, LLC, a fencing company.

Their son, Blaine, was a farmer from the moment he could walk. He always wanted to ride along with Greg or his Grandpa Norman to the fields. He also inherited his grandfather's trademark overalls. Farming came naturally to Blaine, and he has a remarkable gift for the profession. He continually studies new techniques and explores innovative methods suited to the challenges of our arid climate. Blaine is engaged to Alexis, and they are planning a November wedding.

For farming families, leaving a legacy is deeply important. As I reflect on our journey, I believe that legacy is one of our farm's greatest strengths. We have built our operation on a foundation of stewardship, caring for the land while maintaining strong financial discipline. Our involvement with KFMA taught us the critical financial and management principles necessary for long-term success.

The combination of responsible land stewardship, sound financial management, and a commitment to the next generation have created a winning formula. Because of these values, our farm is well-positioned to continue growing and successfully transition our legacy for years to come.

 


Session Summaries

2026 Breakout Sessions

SCHEDULE


1. Government Payments for Row Crops in 2026

Robin Reid

Government support payments have played a significant role in the financial performance of Kansas row-crop farms in recent years. This session will examine the contribution of ad hoc assistance programs (including ECAP, FBA, and SDRP) to farm income and present projections for Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) payments that will be received in October 2026, for the 2025 crop year.  These farm program payments are the first to be received under the One Big Beautiful Bill Act enhancements to the programs.  Base acre changes and election of ARC or PLC for the 2026 crop will also be discussed.


2. Predicting SCO and ECO Crop Insurance Payouts using Preliminary County-Level Loss Data

Anup Paudel, Jenny Ifft 

Coming soon...


3. The New Economics of Farm Risk: Specialization, Scale, and Stability

Joe Parcell, Weston Guetterman

Historically, diversification has been viewed as a key strategy for reducing farm financial risk and stabilizing year-to-year variability in net farm income. However, since the mid-1990s, consolidation spurred by enterprise specialization has been a defining trend for the U.S. farm sector. This raises an important question. To what degree has specialization overtaken diversification as a means of risk reduction? Using Kansas Farm Management Association data from 1973 to 2024 and comparing farms relative to their neighbors, we examine the role that specialization, size, government programs, etc. have played in changing financial risk, financial efficiency, and profitability.  


4. Macroeconomic Update

Brian Briggeman

As of June, 2026, the macroeconomy has been resilient in the face of uncertainty. Labor markets are holding. Consumption continues to grow at a modest pace despite persistent inflation pushing up prices. Taken together, the US economy continues to grow at a reasonable pace. However, US consumer sentiment is at an all time low and personal debt figures continue to grow. In addition, the Federal Reserve continues the internal debate of should interest rates increase, decrease or hold steady. So the question remains, where will interest rates go? What are the implications for US agriculture and rural America? How should farmers and agribusinesses respond? In this talk, Brian Briggeman will have a discussion on these topics and questions with those in attendance.


5. Agricultural Finance Update

Allen Featherstone

Coming soon...


6. Crop Enterprise Profitability

Mark Dikeman

For KFMA farms, 2025 was a profitable year due in a large part to high levels of government payments and strong livestock revenue. However, few crop enterprises showed an economic profit despite above average crop yields through much of the state. This session will review 2025 data from KFMA, with a focus on major crop enterprises in the state. In addition, we will use 2025 data, combined with audience participation/estimation, to project crop enterprise profitability for 2026.  


7. Fertilizer and Diesel Prices, The Crude Story

Gregg Ibendahl

Coming soon...


8. Current Trends of Black Sea Grain and Oilseed Markets

Antonina Broyaka

Coming soon...


9. 2026/2027 World Grain Market Outlook

Guy Allen, Daniel O'Brien

Coming soon...


10.  2026/2027 North American Energy and Bioenergy Market Policies and Trends

Daniel O'Brien, Gregg Ibendahl, Frayne Olson, David Riplinger

Coming soon...


11. Spatial Heterogeneity in Corn–Soybean Planting Decisions and Price Responses

Margaret Lippsmeyer, Jenny Ifft

Corn–soybean rotations dominate much of the U.S. Midwest, with planting decisions influenced by agronomic constraints, local production conditions, and expected relative prices. Extension recommendations often rely on a soybean-to-corn price ratio threshold of 2.5 to predict switching between crops, implicitly assuming uniform production environments and planting responses. This study evaluates that assumption by integrating USDA Crop Sequence Boundary data (2018–2025) with futures prices, climate data, soil quality measures, input costs, and ARC-CO revenue guarantees. We estimate county level planting probabilities, acreage responses, and crop supply elasticities as functions of prices, previous crop choices, local production conditions, and policy incentives. We then simulate county specific soybean-to-corn price ratio thresholds required to induce deviations from a 50/50 corn–soybean split. Results reveal spatial heterogeneity in planting responses and switching thresholds, suggesting that a uniform price ratio rule may mischaracterize regional production decisions and mislead planting recommendations.


12. Market Concentration, Supply Chain Resilience, and Producer Welfare: Lessons from the U.S. Ethanol  Processing Industry  

Yixin Tian, Aleksan Shanoyan

Coming soon...


13. Long Term Care Planning Considerations for Farmers and Ranchers

Ashlee Westerhold

This session will help farmers and ranchers understand the realities of long-term care costs, available care options, and strategies for funding future care needs. Participants will learn how long-term care planning intersects with estate planning, farm succession, and asset protection, while exploring tools such as insurance, trusts, and Medicaid planning. Attendees will leave with practical steps to help protect their operation, reduce family stress, and preserve their farm or ranch for future generations.


14. General Tax Updates and Trump Accounts  

Kellen Liebsch, Chelsea Plummer

Coming soon...


15. The 1980s Farm Crisis and Off-farm Labor Allocation

Wyatt Pracht, Jenny Ifft, Jisang Yu

Coming soon...


16. Investment Analysis on Rented Ground

Megan Hughes

Coming soon...


17. Farmland Value Effects of CRP Enrollment

Eugene Oku, Gabe Sampson

Farmland accounts for over 80% of farm sector assets and is critical for farm profitability, land tenure decisions, and rural development. The Conservation Reserve Program (CRP), the largest U.S. land retirement program, pays farmers fixed rental payments to retire land from production and implement conservation practices. Despite its scale and budget, the effects of CRP enrollment on farmland values are not well understood. We combine transaction-level sales data for all Kansas farmland from 2010 to 2024 with geospatial CRP contract data to estimate how enrollment affects land prices. We find that CRP participation reduces land values: a fully enrolled parcel experiences a 27% discount, each additional year under contract lowers values by $14 per acre, and each additional dollar of rental rate increases values by $2 per acre. Across the 91,000 acres of CRP-enrolled land in our sample, we estimate an aggregate land market discount of $45 million. These acres are also estimated to sequester roughly 685,000 metric tons of CO₂ equivalent.


18. Farm Household Spending and Responses to Farm Stress

Megan Hughes, Brady Brewer

Coming soon...


19. Grazing Management Plans and Their Economic Effect on Kansas Cow-Calf Producers

Kylie Bedel, Dustin Pendell, Phillip Lancaster

In 2023, the U.S. Roundtable for Sustainable Beef announced an industry goal of putting 385 million acres of grazing lands into grazing management plans (GMPs). These GMPs accumulate producers’ operational goals and objectives, resource and forage inventories, and monitor contingency plans for their grazing land and cattle operation. This presentation looks at how GMPs and different grazing patterns affect Kansas cow-calf operations and their costs, profitability, and productivity of their animals.


20. LRP Usage: What Coverage Is Being Used and Where?

Jioh Park, Brian Coffey

Coming soon...


21. Valuing Groundwater Across Irrigation and Livestock Systems

Micah Cameron-Harp, Hannah Parker

Coming soon...


22. Flexible Water Rights

Micah Cameron-Harp

Coming soon...

23. Using OpenET to Determine the Impact of Groundwater Conservation

Bill Golden

The Ogallala Aquifer in Kansas is experiencing significant impacts from declining aquifer thickness. To stem declines and approach aquifer sustainability, producers must transition to reduced groundwater withdrawal and enhanced system-level water use efficiency. The Sheridan #6 LEMA is an example of an area that has restricted groundwater use. Data obtained from OpenET will be used to determine the impact on corn yield and producer risk.


24. AgriBot: Improving Farmer Access to Extension Publications Through AI-Assisted Summaries

Chandan Bhattarai, Nirmal Gelal, Pravesh Niraula, Aastha Gautam, Romulo Lollato, Hande McGinty, Jesse Tack

Coming soon...


25. Solar Opportunities in Rural Kansas: Siting on Marginal Agricultural Land, Community Solar Projects, and Support for Solar in Rural Communities

Eliyasu Osman, Jason Bergtold, David Wesseler, Pedro Dan Edamatu Carvalho, Marcellus Caldas

Coming soon...


26. Measuring the Resilience of Kansas Farms to Environmental and Policy Shocks

Gifty Ayela, Jesse Tack

This project aims to use the KFMA data to study how farms cope with challenges such as droughts, extreme weather, market volatility, and policy changes. The goal is to identify the financial and management practices that help farms remain profitable during difficult periods and recover more quickly afterward. The findings can help farmers evaluate their own operations, improve risk management decisions, and identify strategies that support long-term business success. 


 

Registration information

https://commerce.cashnet.com/ksuagecon

Both days: $235
One day (Thursday or Friday): $200

Or print the BROCHURE, and mail a check made out to KSU Ag Economics, to: 
Rich Llewelyn
324B Waters Hall
1603 Old Claflin Place
Manhattan, KS 66506

Questions? Rich Llewelyn at rvl@ksu.edu

Trade show

Trade Show Flyer 

More information, contact Rich Llewelyn: rvl@ksu.edu or 785.532.1504 .

Directions

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.

Hotel accomodations

Holiday Inn - Campus
 
1641 Anderson
 Manhattan, KS 66502
 785.539.7531


Conference Rate: $119.95 + tax / night
 
Single or Double
 Rates valid August 20-22, 2025
 Cut-Off Date: July 30, 2025

 Use Group Name: RISK AND PROFIT 
 Direct Link: Risk & Profit Block Holiday Inn at the Campus

 

 

Parking

There is limited parking available at the Alumni Center. If spots are available, you can park there. You will need an Alumni Center pass, which will be available as you arrive.

Conference parking is included in the registration fee, for either the lot west of Old Stadium, or for the parking garage. You may park in either location, then bring your tag number (write it down or take a picture of it) to the registration table and we will take care of it for you. 

  • Limited parking is available in the Alumni parking lot for those arriving early. 

  • Additional parking is available in the lot west of Old Stadium (across Denison Avenue), north of the Catholic Church, or in the parking garage.

  • 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.

Kansas State University is committed to making its services, activities and programs accessible to all participants. If you have special requirements due to a physical, vision, or hearing disability, contact Rich Llewelyn, rvl@ksu.edu, or Director of Affirmative Action, Kansas State University, (TTY) 785.532.4807. K-State Extension is an equal opportunity provider and employer. Issued in furtherance of Cooperative Extension Work, Acts of May 8 and June 30,1914, as amended. Kansas State University, County Extension Councils, Extension Districts, and United States Department of Agriculture Cooperating, Gregg Hadley, Director of Extension.

For more information, contact Rich Llewelyn at the phone or email below:
Phone: 785-532-1504  Email: rvl@ksu.edu