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FAPRI outlook shows downward shifts in farm income, commodity prices

Todays Farmer Magazine

FAPRI’s report shows prices for many farm commodities have fallen sharply from 2022 peaks and will likely decline further for crops harvested in 2024 and beyond. As a result, net farm income is expected to hit the lowest level since 2020. per bushel in 2022-23 fall to a projected $4.39 per bushel to a projected $10.73

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FAPRI forecasts falling prices for producers

Todays Farmer Magazine

The outlook summarizes baseline projections for agricultural and biofuel markets using information available in January 2023. Crop insurance accounts for 45% of projected spending on major farm-related programs over the next decade. Projected net income declines in 2023 and 2024 as receipts and payments fall.