USDA projects farm income at highest since 2013


U.S. net farm income is forecast to jump 43% this year primarily due to a surge in government payments and higher soybean prices, the USDA Economic Research Service said last week in its latest forecast.

The $36 billion increase from 2019 would put 2020 net farm income at $119.6 billion, the highest level since 2013.

Direct government farm payments, which include federal farm program payments but ex­­clude USDA loans and...

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