CHICAGO – Hovering grain and livestock costs are anticipated to push U.S. farm incomes to a historic excessive this yr, as producers profit from sturdy international grain and oilseed demand amid tight provides, the U.S. Division of Agriculture reported on Thursday.
Web farm revenue – which is a broad measure of income within the agriculturaleconomy, in accordance with the company – is forecast to extend to $160.5 billion in 2022 from $141.0 billion a yr earlier, a rise of $19.5 billion.
A lot of the expansion within the crop sector got here from gross sales of corn, soybeans and wheat, the company stated, noting that livestock money gross sales receipts had been additionally anticipated to leap almost 31 % to $256.0 billion….
Carry on studying: U.S. farm incomes seen hovering to new highs on international meals, feed demand
