CoBank: U.S. ag industry faces global challenges in 2016

Commodity oversupply and weakening exports weigh heavily on U.S. farm income.

Mounting global inventories, withering export demand and weak global economic growth, which caused U.S. farm income to plummet by 25% in 2015, will continue to plague the U.S. agriculture industry in 2016, according to the new “Quarterly Rural Economic Review” from CoBank.

U.S. farm income declined to $93 billion in 2015 after averaging more than $124 billion in the previous four years due to uncommonly strong commodity market growth. Despite the decline, CoBank said the 2015 farm

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