It shouldn't be a surprise to anyone who knows how to use a calculator that net farm income in 2013 and 2014 will likely be well below the record levels of the previous three years. The chart below was prepared by Gary Schnitkey from the University of Ilinois Extension Service*. It reflects operator and farmland returns for four geographic regions of Illinois.WPI has written often about just how good the past decade has been for production agriculture in the U.S. and this chart does a nice job of reflecting that. The prosperity has come with some costs, including:
Record high land prices that have quadrupled over the last four years to what seem to be astronomical levels today. $8,000-$10,000 per acre land in North Dakota? $15,000-$20,00...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
