Farmers Expecting Record Incomes

Photo courtesy of Creative Commons
The lower Midwest drought devastated crops this year and led to government aid pouring into the area to offset losses.
The state of farmer’s pocketbooks would likely resemble the saturation of the soil: Dry. Not according to the U.S. Department of Agriculture, who report that farm incomes are estimated to be the second-highest on record.
Prices of crops have been increasing as the supply continues to fall while demand has stayed constant.17 percent – about 2 billion bushels of corn – was lost in the drought and created a domino effect in the market for consumers.

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