USDA Projects 2021 Rebound for American Economy, Robust Commodity Prices

Washington, DC — The U.S. Department of Agriculture is predicting a resurgent U.S. economy will lift commodity prices across the board in 2021, according to this Successful Farming report.

In its first projections for 2021, USDA says growers will harvest a record amount of soybeans at an average of $10 a bushel due to strong demand.

The corn crop is predicted to be the second-highest ever.

With low inflation and interest rates, U.S. gross domestic product will jump 4%, according to USDA's macroeconomic assumptions.

The USDA on Friday released its projections of macroeconomic conditions, and U.S. crop and livestock production and consumption, in the decade ahead.

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