This past Monday, November 13, 2023, the Department of Agricultural, Environmental, and Development Economics (AEDE) held its annual Agricultural Outlook and Policy Conference at the 4H Center on the Ohio State Campus. The Agricultural Outlook and Policy Conference is the premier annual forum related to Ohio’s agricultural and food industry, covering issues important to producers, agribusinesses, and elected officials.
This year, AEDE held six presentations and one panel presentation on a variety of agricultural outlook topics: Energy Outlook, Labor Outlook, Farm Income Outlook, Commodity Market Outlook, Macro Outlook, Trade Outlook, and a panel on the Farm Bill.
Below are links to all the presentations, photos, and a generalized outlook quote from the experts themselves.
“Dr. Brent Sohngen discussed the general trends in energy and then gave in-depth outlooks into the future of gasoline, diesel, and natural gas, touching base on renewables and carbon.”
“In general employment has come to a period of “balance” after the disruptions of the pandemic and early post-pandemic years. This is also evidence from job switching behavior is moderating.”
“The ag outlook is for strong but weakening farm economy with decreasing farm income and moderating land values due to high interest rates.” – Dr. Ani Katchova
“Bearish market prospects are increasingly pervasive, especially because of strong supply and weak demand. Last week, the November WASDE report from USDA estimated the record-high US corn production, which drives down the price fundamentals.” - Dr. Seungki Lee
“A panel of policy experts discussing prospects for a new US Farm Bill were generally rather pessimistic about negotiations in the House and Senate Agriculture Committees being concluded anytime soon" - Dr. Ian Sheldon
"There are signs of a slowdown in the global economic recovery due to the war in Ukraine, implementation of tight monetary policy by central banks, and a rundown in the post-pandemic stock of household savings" Dr. Ian Sheldon