2021 Fall Farm

2021 Logan County Fall Farm Outlook Lincoln Daily News Oct. - Nov. 2021 Page 25 Ag Barometer September survey showed the continuing concerns. In the survey, “one-third of respondents” said they “expect input prices to rise by more than 12% in the coming year.” This amount “is six times the average farm input inflation rate of the last decade.” Additionally, “Inflation expectations were higher this month across the board with the percentage of respondents expecting input inflation to rise above 12% doubling since July with an increase to 34%.” Fortunately, there is hope on the horizon for improved outlooks. As we move toward the end of 2021, the USDA’s September Farm Outlook projected higher farm income this year. This could help offset increased expenses. The USDA says, “in inflation adjusted dollars, the 2021 net farm income projection of $113 billion, if realized, would be the highest since 2013.” Projections are showing a positive trend, too. Schnitkey, Paulson, Swanson and Zulauf say, “Even with rising costs, projections are for positive 2022 returns to farmers of $24 per acre for corn and $150 per acre for soybeans on cash rented land.” If high commodity prices stick around, they feel “farmers could remain profitable even given rising input costs.” Resources: Goodwin, Kami and James Mintert. “Ag Economy Barometer falls for second month; rising input costs causing concern for farmers.” https://www.purdue.edu/newsroom/ releases/2021/Q3/ag-economy-barometer- falls-for-second-month-rising-input-costs- causing-concern-for-farmers.html Good, Keith Higher Fertilizer Prices Could Impact U.S. Acreage Allocation, as Power Issues in China Impact Feed Costs September 30, 2021 https://farmpolicynews.illinois.edu/2021/09/ higher-fertilizer-prices-could-impact-u- s-acreage-allocation-as-power-issues-in- china-impact-feed-costs/ Langenmeier, Michael and James Minter. “Farmer Sentiment Declines in September, Inflation Expectations Jump.” Tuesday, October 5th, 2021. https://ag.purdue. edu/commercialag/ageconomybarometer/ farmer-sentiment-declines-in-september- inflation-expectations-jump/ Schnitkey, Gary, Kristi Swanson, Nick Paulson and Carl Zulauf. “2022 Crop Budgets Contain Higher Costs.” Farmdocdaily (11):112. Department of Agricultural and Continue 4