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Balanced Reporting. Trusted Insights.
Saturday, April 12, 2025
The Agriculture Department's latest Farm Income Forecast projects net farm income will fall this year amid higher production expenses, lower cash receipts and declining direct government payments.
The Agriculture Department is forecasting that net farm income will decline sharply this year on lower revenue from crops and livestock and higher production expenses.
Corteva Agriscience said market penetration of its Enlist E3 soybeans reached 45% of total acres in North America in 2022 as it reported net sales for the year of $17.46 billion, 11% higher than 2021.
The Biden administration’s top agriculture official wants Congress and states across the country to focus on a broader vision for the nation’s agricultural economy.
Farmers' financial earnings are expected to increase this year, but fewer government payments and increased production costs will likely offset higher cash receipts, USDA's Economic Research Service said Thursday in its Farm Sector Income forecast.
Farm earnings are broadly expected to ease this year, although USDA's latest farm income forecast projects skyrocketing prices for key commodities will help offset a steep drop in government payments and increases in production costs.
The recent boom in commodity prices is likely to continue through 2021 and into 2022, with supplies historically low worldwide at the same time Chinese demand for animal feed is growing and a worsening drought grips Brazil and Argentina, according to a top ag economist.
The power shift in the House Agriculture Committee is close to being complete. The House Republican steering committee on Wednesday picked Pennsylvania Rep. Glenn “G.T.” Thompson as the Ag committee’s ranking member, replacing the retiring Mike Conaway.
Measures of farm income this year will reach their highest levels since 2013 and 2014 on the surge in government aid through coronavirus relief and trade assistance, the Agriculture Department says.
