BELLE PLAINE — A new report shows net farm income in Kansas last year rose to an average of $110,380 per farm, propped up by government payments.
The Kansas Farm Management Association released this week its annual economic data based on the 970 agricultural operations that their economists advised on financial decisions. Their figures show farm balance sheets were heavily subsidized by government payments with 72.49% of the income Kansas farmers received last year coming from the government.
Additionally, Kansas farmers are projected to harvest 284.4 million bushels of winter wheat this year, industry leaders said Thursday.
The forecast from the annual Wheat Quality Tour came during a virtual wheat tour held via Zoom this week amid the coronavirus pandemic. The group’s forecast pegged the anticipated wheat yield in Kansas this year at 44.5 bushels per acre.