Overall, U.S. farmers are expected to end up in the black for 2020, largely due to government payments aimed at lessening the impact of the COVID-19 pandemic.
According to USDA economists, net farm income (NFI) is forecast to increase $18.3 billion (up 21.7%) from 2019 to nearly $103 billion in the current cropping year. This, along with a 2.1% decrease in total production expenses, will help ease the pain of a projected 4.1% drop off…
This is subscription content for VIP Members. A VIP membership gives you all things Ag Equipment Intelligence all the time! Compare the three levels of access:
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
Download these helpful knowledge building tools
In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.
