Tight world supplies to drive US farm incomes to historic highs

WASHINGTON D.C.: The U.S. Department of Agriculture reported that as producers are benefitting from high global grain and oilseed demand due to tight supplies, the subsequent surge in grain and livestock prices are predicted to drive U.S. farm incomes to historic highs this year.

The agency forecasts net farm incomes, a broad measure of profits in the agricultural economy, to rise to $160.5 billion in 2022, from