Skip to content
Subscriber Only

U.S. Farmers Watch $100 Billion-a-Year Profit Fade Away

Video player cover image

U.S. Farm Income to Fall 22% on Lower Crop Prices

Updated on

The squeeze on U.S. farmers is getting worse as low crop prices and rising costs erode incomes that not long ago were the highest ever.

Illinois grower Jason Lay said he will buy 30 percent less fertilizer for his 2,500 acres of corn and soybeans, and 7 percent fewer seeds for spring planting. After his most profitable year ever in 2012, Lay said he upgraded his combine, tractor, sprayer and planter. With crop futures now near five-year lows, he has no plans to buy any new equipment.