Collecting and organizing data is crucial for preparing and planning for the next crop year. For example, data on acreage, yield and expected prices can help estimate gross returns. This information is valuable when negotiating with a banker for a new loan or refinancing an existing one. It’s also useful for setting lease terms with a landlord for the upcoming year.

Profitability maps can be helpful for determining the relative extent to which different areas in a field are profitable or not, which can provide insights regarding whether there are any actions that can be taken to increase profitability in lagging areas.

As the crop planting season approaches for most regions in Idaho, understanding what operating costs will look like in 2024 is crucial for farm businesses.

Markets go up and markets go down, but elasticity in the markets can be quantified and used in crop marketing strategies.

The National Integrated Drought Information System (NIDIS), a multifederal government agency partnership that coordinates drought monitoring, forecasting, planning and information at national, state and local levels across the U.S., defines an “agricultural drought” as a phenomenon in which weather conditions lead to adverse plant responses, leading to outcomes that range from reduced crop and forage yields to complete crop and forage failure.