The Guardian - Many US midwestern grain farmers will lose money this year after reaping a bumper crop, and the outlook for their future income is bleak.US farmers harvested some of the largest corn and soybean crops in history this year. Big harvests tradition ally weigh on crop prices because of plentiful supply. And those price pressures comes at a time when costs remain persistently high to grow corn and soybeans, the US’s most valuable crops.
That double whammy is hurting farmers. Income will vary per farmer and per state, yet even for producers in top agricultural states such as Illinois, losses could be staggering.
Agricultural economists from the University of Illinois and Ohio State University estimate that the average Illinois farm could make a loss of $30,000 for 2024. Their projections place farm incomes at the lowest level since the 1980s’ farm crisis led to bankruptcies.
The
decks are stacked against farmers for 2025 as well. Costs for seed,
fertilizer and other inputs rose during 2022, fueled by the
Russia-Ukraine war, which also lifted crop prices to record highs
1 comment:
Tradiutional big time commodity agriculture is going the way of the dinosaurs. The only wayt to survive as a farmer is to go organic and focus on soll health.and food for local markets ands consumers.
Post a Comment