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USDA report outlines projections for corn, soybean production, prices and farm income for next 10 years
2014-02-22 00:13:00| Corn & Soybean Digest
Source: USDA This recent report by the USDA offers its projections, under specific circumstances, of agriculture through 2023. The graphs and key projections include corn production, soybean production, conservation, corn and soybean prices, farm income and cost of production. read more
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USDA Projects Lower Net Farm Income
2014-02-17 21:22:00| National Hog Farmer
By P. Scott Shearer, Bockorny Group, Washington, DC USDAs Economic Research Service (ERS) is projecting net farm income to be $95.8 billion in 2014, which is down 26.6% from 2013s estimate of $130.5 billion. The 2014 forecast would be the lowest since 2010, but would remain $8 billion above the previous 10-year average. Lower crop cash receipts and reduced government payments are the main reasons for the drop in net farm income. read more
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Net Farm Income to Rise 15% in 2013
2013-11-27 20:58:00| National Hog Farmer
Source: U.S. Department of Agriculture Net farm income is forecast to be $131.0 billion in 2013, up 15.1% from 2012’s estimate of $113.8 billion. After adjusting for inflation, 2013’s net farm income is expected to be the highest since 1973, according to USDA’s Economic Research Service. Net cash income is forecast at $129.7 billion, down 3.4% from 2012. Not all crops produced in 2013 will be sold by the end of the 2013 calendar year; ERS officials anticipate substantial increases in the annual quantity and value of crop inventories, particularly for corn. read more
Net Farm Income Highest Since 1973
2013-09-03 21:25:00| National Hog Farmer
By P. Scott Shearer, Bockorny Group, Washington, DC USDAs latest estimate forecasts 2013 net farm income at $120.6 billion. After adjusting for inflation this would be the second highest level since 1973. Secretary of Agriculture Tom Vilsack said, This weeks forecast of a $6.8 billion increase in net farm income is a testament to the resilience and productivity of U.S. farmers and ranchers, and a further sign of the positive momentum they have achieved over the past five years. read more
2013 Net Farm Income Predicted Up, But Net Cash Income Down
2013-02-19 19:39:00| Corn & Soybean Digest
Source: Farmgate blog All of the newspaper and television headlines will scream that net farm income for 2013 will be up 14% compared to last year. And many of those readers and viewers will remember prior headlines that indicated farmers were raking in cash from the USDAs crop insurance program at levels higher than they would have received in a normal production year. Unfortunately, agriculture needs Paul Harvey to tell, The rest of the story. read more