This past year was full of uncertainty in the agricultural markets.
Challenges like a lingering trade war, weather issues, and COVID-19 combined to bring a big change to all parts of the Agricultural supply chain.
Every year, experts in the Purdue University Department of Agricultural Economics review the economic conditions from the previous year and look ahead to what the ag sector can expect in the upcoming year.
The findings are published in the Purdue Agricultural Economics Report Annual Outlook Issue.
Brady Brewer is one of the report’s editors and analyzes trends in the financial sector. Brewer believes the agricultural economy can expect many of these same issues to influence the markets into 2021.
“This year has been full of unprecedented disruptions to the agricultural economy,” Brewer says.
“Even though we did see farm incomes increase, as well as an improvement in farmer sentiment at the end of 2020, there’s still an expectation that we’ll continue to see volatility and uncertainty in the agricultural economy next year.”
The report also provides an outlook on farmland values, trade policy, Ag credit, the dairy marketplace, and retail food prices.
(Story Courtesy of the NAFB News Service)