U.S. farm income is expected to drop sharply in 2012 from last year’s record high as production costs rise by more than $10 billion for the second year in a row and crop receipts are limited by drought, USDA said on Monday in its first income forecast for this year.
Net farm income is forecast at $91.7 billion in 2012, down $6.3 billion or 6.5% from the 2011 forecast of […]
Joel Karlin
DTN Contributing Analyst
We read an interesting article this week from University of Illinois professors Good and Irwin entitled “The Historic Pattern of U.S. Corn Yields, Any Implications for 2012?”
With U.S. corn yields seeing back to back years below trend, market sentiment suggests reduced chances for such an occurrence this year, so they looked at past yield data to see if that is a correct assumption.
U.S. corn yields have trended higher over time and a regression indicates that since 1960 yields have on average increased about 1.87 bushels per year. […]