Farmers in Ohio and across the Midwest might have reason to be optimistic this year.
Prices for soybeans, corn, and wheat have risen in 2020, and total net cash income from farms in the United States is expected to be up this year by 4.5%. That’s partly because of an increase in government payments to farmers.
Those payments will make up 32% of this year’s net cash income from all U.S. farms — more than double the portion those payments typically account for, said Ben Brown, an assistant professor of agricultural risk management at the The Ohio State University College of Food, Agricultural, and Environmental Sciences (CFAES).
Traditionally, government assistance to farmers has made up about 14% of the annual net cash income from farms in the United States. Net farm cash income is a measure of profit generated from all U.S. farms by adding all sales of agricultural commodities and farming-related activities, plus direct government payments, and subtracting cash expenses.… Continue readingRead More »