From supply chain shortages to spiking input costs, farmers were faced with challenges in 2021 that required dedication and ingenuity to overcome. In response, they adapted their operations to meet a rising consumer demand for agricultural products. Despite the challenges, the combination of strong commodity prices and export demand has led 2021 farm income to reach its highest level since 2013.
In 2022, net farm income is forecasted to decline 4.5 percent but still 26 percent higher than the 10-year average. AgAmerica’s Chief Economist Dr. John Penson has been monitoring the most influential factors impacting farm income in 2022 and consolidated his insights into a comprehensive economic report.
Embrace opportunity through the power of knowledge to make decisions that benefit the long-term growth of your operation. While only time will tell what the 2022 agricultural economy will look like, it is important to stay up to date on important economic factors that impact your operation. Having an understanding of what to expect in 2022 can help you craft a strategic business plan that allows your operation to adapt and withstand external economic pressures.
Learn more about what to expect in the 2022 farm sector by do
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Irrigation Systems and Food Production Irrigated agriculture is critical, supplying 40% of the world’s food despite having only 28% of cropland. Irrigation also stabilizes food production by separating crop yields from the risk of variable rainfall (Troy et al., 2015). However, history reveals that most irrigation systems eventually fail. In Pillar of Sand, Sandra Postel discusses… Read More »Columbia Basin Project
Agriculture Commodity Price Forecast: Late 2024 into 2025 As the end of 2024 approaches, US farmers are focused on planning for 2025, anticipating how commodity prices for major agricultural goods like corn, soybeans, and wheat will fluctuate. Numerous factors, including global demand, input costs, and government policies, will impact the agricultural market. This guide explores the latest price forecasts for agricultural commodities… Read More »Commodity Market Outlook
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