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U.S. Farm Income Projected to Reach $120.6B in 2013

U.S. Farm Income Projected to Reach $120.6B in 2013

By Amanda Brodhagen, Farms.com

The U.S. Department of Agriculture (USDA) expects this year’s farm income to surpass 2011’s record of $118 billion.

American farmers could earn about $120.6 billion net income in 2012, the agency said. The USDA had initially forecasted in Feb. farm income could reach $128.2 billion but lowered its estimates to reflect lower corn prices.

While farm incomes are expected to increase, the agency said farmers and ranchers are also expected to see higher input costs. Farm expenses are predicted to jump $13.1 billion to $354.2 billion. The USDA will update its farm income estimate for 2013 again on Nov. 26.
 


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SaskAgToday.com Roundtable: India imposes a 30% duty on all yellow pea imports

Video: SaskAgToday.com Roundtable: India imposes a 30% duty on all yellow pea imports

Canadian farmers have another barrier to deal with when marketing grain. India announced it will issue a 30% duty on all yellow pea imports, including from Canada, effective Saturday, November 1. That was the main topic of the SaskAgToday.com Roundtable, though it's not the only one as the final crop report of 2025, SARM's recent trip to Ottawa, and the upcoming Grain Millers Harvest Showdown in Yorkton were other notable topics.