Critics of farm policy like to reference high commodity prices when making the case for another raid on the farm budget—which has already sustained up to $15 billion in cuts in the past six years. But what good are high commodity prices, if the input costs are rising even higher?
U.S. corn farmers are still on track to produce the third largest crop on record despite difficult growing conditions that have plagued much of the Corn Belt since planting according to USDA reports released today. Projected at 12.9 billion bushels, the total 2011 U.S. corn crop will only be 1.3 percent, or 177 million bushels, below the record set in 2009.
“This report confirms again that U.S.
During these economically stressful times, rising food prices can lead to questions about how much profit a farmer actually makes. With 98.5 percent of the population not working in agriculture, it becomes easy to make assumptions based upon only the prices on the shelves. But, in all actuality, farmers must spend a large percentage of the price they will get after harvest on the inputs necessary to grow the crops that provide food, feed and fuel.