Robert L. Utterback


I grew up on a small farm in Central Indiana and learned at an early age the value of hard work and experienced firsthand many of the rewards and problems associated with farming.

I earned my B.S. degree at Purdue University in Agricultural Business Management with a minor in Agronomy. At Oregon State University I earned my M.S. degree in Agricultural and Resource Economics with a minor in Business Management.

My first major employer after graduation was the Purdue University Cooperative Extension Service. As an Area Farm Management Specialist I worked with farmers [in five counties in southeast Indiana] in regard to all aspects of farm production and marketing. From the spring of 1981 to 1985 I was the Hog Analyst for AgriVisor, Inc., a division of Illinois Farm Bureau. After that I was the Chief Market Analyst at Top Farmer and Farm Futures magazine, and have been the Outlook Economist for the leading agriculture magazine in the United States--Farm Journal magazine--since 1993. I became a broker in 1990 and established my own brokerage office the following year.

I develop market strategies and market plans to assist farm operations, end users, and elevators throughout the U.S. with regard to buying and selling ag and ag-related commodities. My brokerage office is located in west central Indiana (approx. 15 miles south of Lafayette, Indiana) in the midst of a small farming community. UMS’ brokers also implement trades for individual farm and farm-related operations throughout the U.S. utilizing futures and options, and work with them regard their cash crops based on my research, strategies and recommendations. I have consulting relationships with end users, and I develop personalized market plans for a limited number of my clients based on their input, my research and market experience.

You may have heard my outlook presentations at the National Farm Machinery Show in Louisville, Kentucky the last few years, or attended other meetings [sponsored by banks, seed companies, fertilizer companies, etc], read my outlooks in Farm Journal magazine, seen me on U.S. Farm Report or AgDay TV shows, or read my market strategies at Utterback Marketing’s (UMS) website (

Many factors affect the markets—U.S. economy, worldwide economies, and fundamentals to list only a few. These factors are constantly changing. I always enjoy and appreciate visiting with farmers, ranchers, end users, elevator operators, seed and fertilizer representatives, and other ag-related business representatives via email, phone or at one of my speaking engagements. I encourage those reading any strategies and outlooks to adapt them to their particular situation since no two operations are the same.