The Comment Corner
Dear Friends and Alumni,
“WELCOME!” has been a commonly heard and enthusiastically delivered phrase around the Purdue campus the past couple of weeks as we greet new students and reacquaint with those returning for another year. Undergrad enrollment in Ag Econ at Purdue continues to grow with one of the largest incoming groups of new students (freshman and transfers) in recent memory. A whopping 155 new undergraduate students have joined the department this month!
The combination of award winning faculty in the classroom, students who are active on campus and alumni and friends who spread the message about the value of a Purdue Agricultural Economics degree are all contributing factors. Of course the fact that nearly 100 percent of our graduates are finding employment before graduation is also a deciding factor. We are proud of the impact that these young men and women are having on the Purdue campus and on the agricultural community after graduation.
We appreciate the efforts of our friends and alumni in building our reputation and sharing the message that through data supported strategic analyses we can improve decisions in both the public and private sectors. Hail Purdue!
Professor and Head of Department
Agricultural Economics, Purdue University
New heights: Indiana's farmland values up again in 2013
Last year's drought did little to slow the pace of rising farmland values and cash rents. They are up this year in a big way again, according to a Purdue University study. Drought last year sent corn and soybean prices soaring to all-time highs, which, along with crop insurance indemnities, meant better-than-expected farm incomes. High net farm income, low interest rates and high farmland demand with limited supply combined to push the state's land values upward by anywhere from 14.7 to 19.1 percent, depending on productivity. Statewide cash rents increased by 9.4 to 10.9 percent. "While the 2012 Indiana crop suffered from the worst drought since 1988, the increase in farmland values did not bother to slow down," said Craig Dobbins, Purdue Extension agricultural economist.
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Three Agricultural Economics Faculty Honored at professional meetings earlier this month
M. Cakir and J. V. Balagtas received the AAEA Quality of Research Discovery Award, Dr. Wallace Tyner received the AAEA Distinguished Graduate Teaching Award, and Kwamena Quagrainie and co-authors received the CAES Honorable Mention for Publication of Enduring Quality Award. Congratulations to all recipients!!
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Purdue economist: Realistic Renewable Fuel Standard attainable
The nation likely can produce federally mandated levels of biofuels in 2014 if the U.S. Environmental Protection Agency reduces its requirements by 2.3 billion gallons, Purdue University energy policy specialist Wally Tyner says. Tyner, the James and Lois Ackerman Professor of Agricultural Economics, projects that refiners could reasonably expect to produce 15.85 billion gallons of biofuels, less than the 18.15 billion that the EPA requires in its Renewable Fuel Standard for 2014. The EPA said on Aug. 6 that it will "propose adjustments" to next year's volume requirements because of limitations hindering production of biofuels, suggesting that the target levels will be reduced.
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September 2013 Issue
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Purdue Line Items Make A Difference for Indiana