Economic and financial conditions bode well for US agriculture

Bolstered by strong demand from developing countries, the falling dollar, and the growing importance of biofuels, U.S. agriculture enjoyed several years of high prices and strong demand prior to the 2008-09 recession. The same factors helped maintain high agricultural prices throughout the recession. Agriculture’s relatively strong balance sheets and low overall use of debt entering and exiting the recession provide a financial base for future growth.  Because of strong demand for agricultural commodities and products, real U.S. farm income has been robust since 2004. This period of growth enabled farmers to improve their overall liquidity and strengthen their balance sheets.  Read More