Source: POLITICO'S MORNING AGRICULTURE, 10/29/18

In a speech to the Future Farmers of America on Saturday, the president claimed credit for what he portrayed as a turnaround in the farm economy. "Before the election, American farmers saw their net income plummet by one-third. Now we have increased net incomes... by $4 billion," Trump said in Indianapolis.

Farm income fell steadily from 2013 before rebounding in 2017, according to USDA's Economic Research Service. However, national net farm income in 2018 is forecast to drop 13 percent from last year (before accounting for USDA's trade-aid program). Adjusting for inflation, that would bring income levels to around 15-year lows.

The economic forces driving income down are not likely to change soon. "The outlook for lower net farm income and relatively weak prices for most major program crops signals the likelihood of continued relatively lean times ahead," a recent Congressional Research Service report said.

POLITICO reported last week that ag economists and row crop growers are already forecasting a bleak 2019, thanks to low commodity prices and higher farm expenses — both due in part to Trump's trade feuds.

More from Indy: Trump briefly talked up the House Republican push for stricter work requirements for millions of SNAP recipients, and he pledged federal help for farmers in the Southeast recovering from Hurricanes Florence and Michael.

I.P. meets ag: Trump repeatedly promised a "win" in the trade spat with China. And he highlighted the administration's tariffs that aim to prevent theft of intellectual property, including what he called China's theft of "trade secrets of American agricultural businesses." Our partners at the South China Morning Post have a deep dive on why rampant I.P. theft went on for decades with very little action on the part of the U.S.