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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 U.S. economy is on the cusp of a rural renaissance, with historic investments going toward infrastructure and economic development in the coming years. Real gross domestic product (GDP) has recovered to 2019 levels, but is still below the pre-pandemic trend. For agriculture, strong commodity prices and export demand have led to farm income reaching its highest level since 2013. However, the combination of geopolitical tensions, labor shortages, supply chain disruptions, and escalating production costs is causing the farm economy to approach the current outlook with cautious optimism. The promise of higher interest rates and production costs indicate that it may be prudent to lock in flexible capital with fixed rates to hedge against inflationary pressure.

Real gross domestic product (GDP) has recovered to 2019 levels, but is still below the pre-pandemic trend. For agriculture, strong commodity prices and export demand have led to farm income reaching its highest level since 2013. However, the combination of geopolitical tensions, labor shortages, supply chain disruptions, and escalating production costs is causing the farm economy to approach the current outlook with cautious optimism.

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.

U.S. Ag Export Trade in 2022
$bn
Projected net farm income in 2022
$bn
Estimated total of U.S. ag export trade for 2022
%
Decline in direct government payments predicted from 2021 to 2022

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ARMS Data

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Land Value in

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AgAmerica - An Equal Opportunity Lender

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

Copyright AgAmerica® LLC 2022. All Rights Reserved.