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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 outlook for 2021 will be heavily influenced by a return to more normal demand from institutional buyers as restrictions on the restaurant industry and food service in general are eased. Domestic demand will grow as vaccination expands and consumers feel more comfortable about venturing out to restaurants and other venues. Export demand in 2021 is expected to remain strong. The low stock carryover for major crop commodities and expanded demand should continue to support crop prices at current high levels. Increased cash receipts will be offset to some extent by expected lower ad hoc government payments. Farmland values, which have remained remarkably stable in recent years, are expected to appreciate in 2021 given the improved outlook and continued low interest rates.

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. agricultural regional statistics.
$bn
Projected net farm income in 2021
$bn
Estimated total of U.S. ag export trade for 2021
%
Decline in federal payments predicted from 2020 to 2021

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ARMS Data

Explore the USDA's estimated land value in your region.

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

Land Value in

per acre

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