During this session, economists will share the newly compiled data (2020-2021) from the Upper Midwest Organic Benchmarking Project (Benchmarking Project). The Benchmarking Project is a collaborative effort between the University of Minnesota and the Farm Business Management program. Aggregated whole farm and enterprise records (corn, soybeans, and dairy) for certified organic Minnesota and Wisconsin farms will be compared with records from conventional farms using FINPACK data. We will highlight differences in farm size, direct expenses, profitability, liquidity and solvency.
Minnesota and Wisconsin produce more organic corn, soybeans, and milk than almost any other state nationwide, making them important economic contributors to US organic agriculture (2019 Organic Census).