2020-12 PAER: Agricultural Outlook for 2021

December 9, 2020

Welcome to our annual outlook issue of the Purdue Ag Econ Report (PAER), where take a look back over the previous year and also a look ahead at the economic conditions we can expect for the agricultural sector for 2021.

This past year was filled with a lot of uncertainty in the agricultural markets. A lingering trade war, weather issues, and the COVID-19 pandemic, impacted prices and brought change to all parts of the agricultural value chain. These issues continue to impact the markets now and likely into 2021.

In the following PAER articles, Agricultural Economics Faculty at Purdue University provide insight on the critical issues facing farmers and the agricultural value chain in 2021.

 

Brady Brewer

Assistant Professor of Agricultural Economics

Purdue Ag Econ Report Contributor & Editor

Articles in this Publication:

Farmland Values and Cash Rent

Trade Policy Outlook: What should we expect from a Biden Administration?

2021 Agricultural Credit Outlook

An uncertain horizon for farm policy

The Dairy Marketplace: Reflections on 2020 and factors to watch in 2021

Retail Food Price Outlook

2021 Purdue Crop Cost and Return Guide

Providing Some Perspective on the Corn and Soybean Markets

The General Economic Outlook

Latest Articles:

The March 2026 Producer Price Index: Reading the Food Price Pipeline

April 16, 2026

The Bureau of Labor Statistics collects Producer Price Index (PPI) prices on the Tuesday of the week containing the 13th of each month. The March survey date was March 10. The Iran conflict began on February 28, making March 10 exactly ten days post-onset. The February survey date was February 10 — eighteen days before the conflict began – but well within the window of pre-conflict rhetoric and US troop buildup in the region.

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The March 2026 CPI Report: What It Tells Us About the Iran Conflict’s Inflation Footprint — And What Is Still Coming

April 13, 2026

The March 2026 CPI report confirms what the structural analysis predicted: the Iran Conflict’s initial consumer price impact is concentrated in motor fuels, which respond to crude oil prices with almost no lag. The 0.9 percent monthly CPI increase is large by recent standards — the largest monthly increase since mid-2022, but it is not yet the broad-based food and goods inflation that a prolonged Strait of Hormuz disruption will eventually produce.

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The Iran Conflict and Global Food Security: Why the Burden Falls Hardest on the World’s Most Vulnerable

March 31, 2026

When an energy shock ripples out from the Persian Gulf, the headlines focus on oil prices, gasoline costs, implications for value chains and the profit margins of U.S. producers.

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