Source: POLITICO'S MORNING AGRICULTURE, 2/22/19

Chief economist Robert Johansson said Thursday the state of the farm economy in 2019 is as uncertain as at any time since the 1990s, with low commodity prices likely to continue weighing on farm income for years to come, Pro Ag's Ryan McCrimmonreports.

In a presentation at USDA's annual Ag Outlook Forum, Johansson covered the broad range of economic headwinds buffeting farmers and ranchers, from trade turmoil to rising farm debt. But he said conditions aren't as bad as during the farm crisis of the 1980s.

By the numbers: USDA doesn't expect real farm income to crack $80 billion in any year in the next decade — a far cry from the peak of $134 billion in 2013.

— The U.S.-China trade war has sent U.S. ag exports plummeting, with soybean sales to China down more than 90 percent from last year, Doug reports.

— Farm bankruptcies were higher in 2018 in major ag states like Wisconsin, Kansas and Minnesota compared with both 2017 and the 10-year average, Johansson said. The national farm bankruptcy rate remained low, he said.