USDA’s Economic Research Service forecast U.S. net cash farm income to increase 8.7 percent from 2021 to 2022. This is the highest-level forecast since 2012. Both cash receipts and expenses are forecast to increase. Cash receipts for farm commodities are projected to rise 14.4 percent from the previous year, their highest level on record. Production expenses are expected to see a 11.3 percent increase. Direct government payments to farmers are projected to fall by 14.3 billion from 2021 to 2022.
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