Commodity Forecast Shows Little Improvement

For most farm commodities over the next ten years, there's not going to be a lot of year-to-year movement in prices.  Agriculture Department Analyst David Stallings helped coordinate the USDA's annual ten-year projections.  He said most commodities in ten years from now may sell for a few cents more than they are now, however.

"We do have farm production expenses increasing through the remainder of the projection period as crude oil prices, interest rates, and inflation rise."

Those expenses projected to go up 9% taking net farm income down from this year's expected $66.6 billion, dropping every year, for the next four years.

"But then, perking up from 63-billion dollars in 2022 up to $69 billion in 2027."

Cash receipts will be 7% higher by 2027 with net cash income 12.5% lower.