Dr. David M. Kohl, professor emeritus, agricultural and applied economic, Virginia Tech, discusses agriculture and the economy. (Photo by Amanda McFarland)

WARSAW — A crowd gathered Thursday, Feb. 25, at Creighton’s Crazy Egg Cafe and Coffee Bar to learn about the latest trends in agriculture in relation to the current economic status.

The seminar, titled, “Positioning Your Business for the Economic Reset,” featured guest speaker Dr. David M. Kohl, professor emeritus, agricultural and applied economics, Virginia Tech.

Activities began with a lunch and introductions by Joe Kessie, senior vice president and commercial south regional manager, Lake City Bank.

Kohl spoke about factors impacting American agriculture, including emerging nations; biofuels, oil and technology; central banking strategy; “king dollar” and duration; and the weather. He talked about economics both in the U.S. and worldwide. He also explained the concept of a cycle reset using a nine-inning model.

“The economy is resetting now, which will affect commodity prices and energy costs,” Kohl said.

At the end of his presentation, he gave several lists, including 15 ways of exploiting volatility, 10 “best management” practices for producers and 10 quotes to keep in mind about current economic times.

“We’re in a cyclical business,” Kohl said. “The good times don’t last forever and the bad times don’t last forever. We have to manage volatility in the extremes and position our businesses to exploit volatility.”

For more information on this topic, visit AgStar, the Corn and Soybean Digest website, the Northwest Farm Credit Service website and www.farmermac.com.