USDA Releases Ten-Year Projections

The next ten years for ag producers has some good news and bad news according to the most recent projections by USDA.

David Stallings said the good news is that farm income is projected to bottom out this year, but…

“Prices are going to remain lower than we’ve seen over the last decade leading to lower returns and reduced plantings.”

For the eight major crops, the peak of plantings occurred between 2012 and 2014 which saw an average of 257 million acres planted. Stallings said we won’t be close to that number going forward.

“And it’s projected to decline to just under 245 million acres by 2026 with most of that decreased acreage coming in corn.”