ERS: Nearly $58 billion to farmers in pandemic year

When crop insurance indemnities and unemployment benefits are counted, the government sent $57.7 billion to farm operations and farm households in 2020, while the pandemic sent the U.S. economy into recession, said a working paper by USDA economists. It was the highest estimate yet of federal assistance to farmers last year and the most inclusive.

Flush times for farmers, buoyed by strong markets and pandemic aid

Farmers in the Midwest and Plains are reaping a cash bonanza that has dramatically improved their finances a year after the pandemic pummeled commodity markets and prompted a record $46 billion in federal payments to agriculture, said three regional Federal Reserve banks on Thursday. (No paywall)

Operating loans drive decline in ag lending

With federal pandemic aid in their hands, farmers and ranchers borrowed far less money than usual from ag bankers during the opening months of this year for equipment, livestock, and operating expenses, according to a Federal Reserve survey of commercial lenders.

After Covid’s chill, a hot recovery is at hand

The U.S. economy could grow at its fastest rate — 7 percent — in nearly four decades, with the farm sector sharing in the energetic recovery from the pandemic, said CoBank on Thursday. "Many in the agricultural industry are experiencing the best market conditions since 2013," said the lender in a quarterly assessment of the sector.

Large ag exports to China create risk for U.S., says FCA chief

U.S. agriculture is running the risk of becoming overly reliant on large exports to China just over a year after Washington and Beijing de-escalated their trade war, said the head of the Farm Credit Administration on Wednesday.

Farm income improves significantly, say ag bankers

Heartened by sharp increases in commodity prices, farmers and ranchers across the Midwest and Plains are paying off bank loans and opening their wallets for big-ticket purchases, said a report from the Federal Reserve on Wednesday.

Strongest farm outlook in years, say ag bankers

Farm income and land values surged in the closing months of 2020, lifted by higher commodity prices and large federal payments, according to farm lenders across the Midwest and Plains. With the commodity rally expected to persist, the farm economy was in its best shape in years, said the …

Financial breather for 10 percent of USDA borrowers

The Biden administration on Wednesday announced a temporary suspension of past-due debt collections and foreclosures of farmers who borrowed money from the USDA and are in financial distress.

Farm sector rebounding but may need more aid, says Duvall

The farm economy, battered since 2018 by a trade war and a pandemic, is rallying, though it is too early to declare a return to prosperity, said the president of the largest U.S. farm organization on Thursday, reserving judgment on whether more stopgap federal aid will be needed.