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Agricultural Economics

Ag Economics

Find out what’s happening in the world of ag economics right now based on analytic insights from AgAmerica’s Chief Economist Dr. John Penson.

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Dr. Penson Feature

The USDA is looking bearish in the latest farm income forecast, with net farm income projected to decline by nearly 16 percent in 2023. The Fed is expected to continue to raise interest rates 25 basis points at a time as they fight to reign in inflation to their two percent target. Top expenditures that are keeping the inflation rate stubbornly high include transportation, services, and rent costs. Continued high production costs, lower government payments, and a decline in total farm cash receipts are the main factors contributing to the anticipated softening in net farm income this year. There are several ways farmers and landowners can implement now to offset future risk, including locking in commodity contracts or discussing liquidity needs with your lender. These risk management strategies and more are discussed in-depth in AgAmerica's latest economic outlook report.

Dr. John B. Penson, Jr., Chief Economist

Agricultural Trade News

American farmers and ranchers play an integral role in providing food, fiber, and fuel—not just for our nation, but for the world. Learn more about the state of global trade for U.S. agriculture.

$bn
Projected net farm income in 2023
$bn
Estimated total of U.S. ag export trade for 2023
%
Decline in direct government payments predicted from 2022 to 2023

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ARMS Data

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The data does not represent minute to date metrics. Source: USDA ARMS

Land Value in

per acre

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AgAmerica - An Equal Opportunity Lender

AgAmerica Lending® LLC is a licensed mortgage lender. NMLS ID# 372267

Copyright AgAmerica® LLC 2023. All Rights Reserved.