"U.S. farm income will soar past $100 billion for the first time in 2011 following rising cash receipts for everything from corn, wheat and cotton to soybeans, the Agriculture Department said on Tuesday. U.S. farm income is forecast at $103.6 billion for 2011, up $24.5 billion, or 31 percent from 2010. Much of the increase is the result of higher crop values, which are expected to rise by $33.6 billion.
"Many different crop and livestock categories are expected to achieve record high sales," said USDA. It forecast crop receipts to be 19 percent higher than in 2010 and livestock receipts to rise by nearly 16 percent."
Reuters had the story August 31, 2011.
SEE ALSO:
"Rising Biomass Demand Could Drive Land Grabs: Report" (Reuters)
Source: Reuters, 08/31/2011
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