News

U.S. Farm Income Soards On Strong Production

U.S. Farm Income Soards On Strong Production

Spencer, IA: (Nov. 26, 2013) – Federal forecasters increased their estimate for U.S. farm income this year to $131-billion, as bumper corn and soybean harvests help farmers offset lower prices for their crops.

Net farm income will rise 15% from last year to the highest level on an inflation-adjusted basis since 1973, according to the U.S. Department of Agriculture.

The income gains reflect a sharp increase in production of corn and soybeans in parts of the Midwest a year after a severe drought hurt yields. Economists say price gains for vegetables, hay and nuts, along with bigger-than-expected corn and soybean crops are behind the gains.

But economists warn the farm-income boom will likely soften next year because of the sharp drop in corn prices that will carry into 2014 and squeeze farmers’ profits. Well Fargo ag economist Michael Swanson commented, “Next year’s income is going to be a lot softer.”

Recent Headlines

30 minutes ago in Music, Entertainment

Brad Paisley to appear opposite wife on ‘Two and a Half Men’

Fresh
paisley

Country singer Brad Paisley is set to star opposite his wife in the season finale of "Two and a Half Men."

1 hour ago in Music

CHART TOPPERS: This week’s top country songs

Fresh
blake-shelton

LISTEN: This week's top country songs.

today in Entertainment

Paul Walker’s brothers to fill in for late actor in ‘Fast & Furious 7′

U.S actor Paul Walker arrives for the UK Premiere of Fast & Furious, in London's Leicester Square, Thursday, March 19, 2009.

The brothers of the late actor will fill in for the star in order to complete scenes in the upcoming film "Fast & Furious 7."

today in Trending, Viral Videos

TODAY’S MUST SEE: How ‘Frozen’ Should Have Ended

Updated
How Frozen Should Have Ended

This "alternative ending" would have made Frozen a COMPLETELY different movie!

today in Entertainment

Today in entertainment history: April 16

cronkite

A look at the Hollywood headlines of years past.