McLean County Farm Bureau


USDA recently updated the forecast for farm profitability in 2019 to $88 billion – the highest level since 2014. Despite the projection for higher farm income, many real-time indicators, such as loan delinquency rates, farm bankruptcies, land values and financial ratios, show signs of stress for U.S. agriculture. Financial conditions in U.S. agriculture do not align with USDA’s most recent forecast because many farmers have yet to harvest and sell their crops or livestock, and much of the federal support responsible for the increase in farm income has yet to be distributed. Once these things happen, farmers’ and ranchers’ books for 2019 could turn out better than previously expected. (Farm Bureau)