Ag Economists Optimistic About Long-Term Farmer Profitability

July’s Ag Economists Monthly Monitor indicates long-term favorable views on the ag economy. The nearly 60 economists surveyed expressed weather extremes and commodity market volatility as the main factors impacting short-term outlooks. Ongoing volatility in both Ukraine and China is a driving force in both near- and long-term uncertainty.

Compared to June, the outlook for the future is much more positive, though short-term outlooks declined. The monitor forecasts net farm income to fall $132.8 billion this year, below the $134.7 billion forecast in June. The change is quite a drop from 2022’s $162.7 billion.

Read more on the July Ag Economist Monthly Monitor here.