Potential for volatility in flux

摘要

THE outlook for the farm economy is generally positive, but as many of the factors that have caused recent price swings remain in flux, so does the potential for extreme price volatility in future years, according to the 10-year baseline report the University of Missouri's Food & Agricultural Policy Research Institute (FAPRI) presented to Congress in early March. The baseline is predominantly in line with the projections the U.S. Department of Agriculture presented at its Agricultural Outlook Forum in February. FAPRI estimated net farm income to decline slightly in 2012 from record levels in 2011. FAPRI projected planted corn area this year at 93.5 million acres; USDA's February, projection was for 94.0 million acres, up from 91.9 million last year.