USDA is forecasting the biggest-ever drop in net farm income. U.S. farm income is expected to total $141 billion this year, down $42 billion from last year. Farm income at the farm level is down 20 percent nationally and down 11 percent in the Northern Plains. Cash receipts for corn and soybeans are dropping 19 percent. Dairy farm income is expected to decline by over 80 percent.
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