Chief Economist

After earning record high incomes last year, even while dealing with an 11% hike in production expenses, the nation's farmers this year could see another increase in those expenses.  ERS head Spiro Stefanou said they expect a more modest increase of as much as 4% this year.  He adde...

USDA is forecasting an agricultural trade deficit in 2023.  While deficits have happened in the past, the agency has never forecast one in advance until this year.  The agency says ag exports are projected to reach $190 billion next year, but imports are projected to rise to $199 billion.   Seth Meyer...

When Russia invaded Ukraine on February 24th of this year, ag trade was sent into a tizzy, thanks to not only the anxiety by volatility as well.  USDA chief economist Seth Meyer said the resulting high commodity prices played a part in helping raise U.S. farm i...

Roughly one month remains on the Fiscal Year, and when the trading books for FY2022 close they will show a strong pace of growth when it comes to Ag exports.  USDA chief economist Seth Meyer said he expects those numbers to be very strong by the end of September.   “...

What will be the effects of higher interest rates on farmers and agriculture? "I'm almost gun-shy of making strong predictions in the environment we've been in, in the last couple years," noted USDA Chief economist Seth Meyer.  But he went add, "Rising interest rates in the United States strengthens the dollar, makes us a little less export competitive." ...

Projected US Ag trade continues to reach record numbers. USDA Chief Economist Seth Meyer said the 2nd quarter trade forecast indicates: "The current year we're in now: exports estimated at a record $191 billion." Up by $7.5 billion from February's estimate, fueled by across-the-board rises in exported commodities ...

According to USDA Chief Economist Seth Meyer, the 2022 Agricultural outlook is strong, but with uncertainties in eastern Europe and South America. He recently told the 98th Annual Ag Outlook Forum that domestic demand is solid, and exports are strong, pointing to record exports over the past calendar year ...

The USDA's top economist says the financial health of the farm sector is good, but the direction it's going is a bit worrisome. USDA Chief Economist Seth Meyer said as he looks ahead he's concerned that farm sector debt continues to climb faster than farm assets ...

Right after 2021 began, the USDA's Chief Economist, Seth Meyer, projected that farm income this year would drop from 2020, but happily for everybody, he was wrong. "Maybe I was being overly cautious at the beginning of the year." After all, government payments to farmers were set to be cut by over 40% this year, but demand for ag products has been strong; pushing most commodity prices up

Is there an actual shortage of fertilizer, meaning farmers won't get what they need for the 2022 growing season? USDA's Chief Economist says "no, not really". "When I hear somebody say "shortage", I tend to think that means they're paying more than they want to pay for it ...