U of I Economist: Net Income Will Decline More Than $80,000 per Farm
by AgDay TV
via AgWeb - Nov 22, 2019
Itís not just trade which impacts many producers in the United States. Itís also lower corn and soybean yields.
The University of Illinois says it will affect farm incomes this year. For 2019, economists are reporting net incomes in Illinois will decline more than $80,000 per farm from last year's levels.
You can see the drop on this graphic they provided in the video above. They say those will be offset by higher corn and soybean prices and China trade aid this year. Economists are also calling for 2020 incomes to be negative if yields are at trend levels and there are no more trade aid payments.
document, including video [0:34 min.]†