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Photo courtesy of Creative Commons

High Prices Will Balance Low Crop Yields



Photo courtesy of Creative Commons
While Missouri corn and soybean growers can expect low crop yields from the summer drought, the crops’ high prices will likely offset the yield losses this coming market year.
Scott Brown, an agricultural economist and MU research assistant professor, said Missouri’s 2012 net farm income could reach $2.8 billion – a drop from the $3.33 billion amassed in 2011, but still higher than the previous eight-year average of $2.45 billion. Brown defined net farm income as the total amount of farm receipts, government payouts and value of inventory changes, with the cost of production subtracted.
Brown and his MU colleague are coauthors of the Missouri Farm Income Outlook 2012 report, which analyzes date from the U.S. Department of Agriculture’s September Crop Production Report.

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