Decline in farm economy is over, but expect a slow recovery
For the third year in a row, U.S. net farm income will be steady at roughly $60 billion, half the peak of 2013, says the University of Missouri think tank FAPRI in a forecast for 2018 that also sees continued stress on farm finances in the years ahead, Successful Farming reported in conjunction with the Food & Environment Reporting Network. A modest increase in corn, soybean and wheat prices in 2019 will put income on a gradual year-after-year incline. While austere, FAPRI’s long-term outlook is sunnier than USDA projections of relatively flat farm income for the next decade.
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