Skip to Main Content

Purdue ag economists provide insight on critical issues facing farmers in 2023

After a year of economic shocks that included supply chain disruption, global conflict, tight margins and historic inflation, Purdue University Department of Agricultural Economics experts are looking ahead to what the agricultural sector can expect in 2023. Those findings were recently published in the Purdue Agricultural Economics Report’s annual outlook issue.

“Signs are pointing to another uncertain and volatile year in agriculture,” said Roman Keeney, associate professor and co-editor of the report. “In 2023, our experts are assessing the possibility of a recession, impacts from the ongoing war between Russia and Ukraine, as well as expectations for input costs and food prices.

“Additionally, the 2018 Farm Bill is set to expire in September, which makes 2023 an important year for farm policy. Following multiple years of emergency support and agriculture benefitting from COVID relief packages, government direct support to agriculture is set to fall dramatically.”

Inside the issue, Keeney discusses the implications of these changes and notes that the short timeline and a wave of new congressional representatives could make replacing the 2018 Farm Bill in 2023 a significant challenge.

To read the full Purdue Agricultural Economics Report 2021 outlook issue, visit https://purdue.ag/paer. The report provides an outlook for the following agricultural topics:

  • The U.S. Economy in 2023
  • Trade and trade policy
  • Factors that shape the 2023 Farm Bill
  • Consumer food prices
  • Dairy consumption and production
  • Purdue Crop Cost and Return Guide
  • Agricultural credit
  • Farmland values and cash rents

The Purdue Agricultural Economics Report is a quarterly publication from the Department of Agricultural Economics. Articles in the annual outlook issue are intended to provide a road map for understanding challenges facing the agricultural economy.

Featured Stories

Leo Koenigsfeld
Leo Koenigsfeld - Graduate Ag Research Spotlight

Leo Koenigsfeld grew up in a small town in central Missouri with the unlikely name of...

Read More
Bill and CD Young at a table in front of greenery in the Spirit and Elephant restaurant.
Purdue hosts new plant-based product development competition

A generous gift from the Young Family will drive food innovation at Purdue University over the...

Read More
Austin Grant with colleagues during his summer internship with the U.S. Army Corps of Engineers.
FNR Field Report: Austin Grant

Austin Grant, a senior majoring in aquatic sciences with a minor in military science and...

Read More
Kingsly Ambrose in front of the solar system model in Discovery Park on campus.
ABE professor recognized for advancing ag safety and health

Kingsly Ambrose, a professor in the Department of Agricultural and Biological Engineering, was...

Read More
Rice inspects insects in the lab
When passions connect: insect biology meets history

Her love for insects started early. “From the moment I could walk, I was outside looking at...

Read More
Student wearing a white T-shirt works on a laptop covered in Purdue stickers while sitting at a table with a notebook open. The background shows other students studying in a large, well-lit space.
2025–26 Animal Sciences scholarship recipients announced

Purdue Animal Sciences awarded $72,200 in scholarships to students for the 2025–26 school...

Read More
To Top