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USDA Releases December Farm Income Projections Estimates

On December 1st, USDA's Economic Research Service (ERS) released its 2021 net farm income estimates report. According to the report, USDA estimates increased farm profits for the coming crop year with an increase of 23 percent over 2020. While 2021 certainly looks to prove better than 2020, there is significant concerns that profit margins will shrink considerably due to higher input costs.

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