While farm income is down across the board, today’s farm economy is noticeably different than it was in the 1980s, according to Dr. Bob Young, chief economist at AFBF.
At a workshop at AFBF’s 2017 Annual Convention & IDEAg Trade Show, Dr. Young and members of the AFBF economics team gave an overview of the farm economy and what the agricultural economy may look like five to ten years from now.
“We have actually brought on board almost 200 million acres in agricultural production worldwide since 1990,” Young said. “That’s almost the size of U.S. agriculture.”
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