The increase in commodity prices has brightened agriculture’s economic outlook heading into 2021.
But Jackson Takach, chief economist for the Federal Agricultural Mortgage Corporation (Farmer Mac), warns that the ag economy is not out of the woods yet.
“When you look at the root causes of the commodity price improvements, they tend to be a little bit temporary. The export demand is really coming from supply-side issues and lower prices on our part,” Takach says.
