Baseline Update for U.S. Farm Income and the Farm Balance Sheet

FAPRI-MU Report #05-20: This report utilizes commodity supply, demand and price projections from the FAPRI-MU baseline update released in August 2020 (FAPRI-MU Report #04-20). Historical farm income figures are from USDA’s Economic Research Service and reflect the revision made in early September 2020 to previous estimates of 2019 farm production expenses and farm income.