Farm income in Minnesota continued to decline in 2015, reaching the lowest point in inflation-adjusted dollars in 20 years. That’s according to analysis of 10-percent of commercial farms done by Minnesota State Colleges and Universities and the University of Minnesota Extension. Extension Economist Dale Nordquist says median income was just over $27,000 due to the continued decline in prices for virtually all major commodities.

He says both crop and livestock farms struggled financially in 2015.

Nordquist says without Minnesota’s record crop yields in 2015, incomes would have suffered a net income loss of over $50,000. The average corn yield was 30 bushels above the previous 10 year average.

Nordquist says the outlook is also negative this year for Minnesota farm income due to continued low commodity prices, weak international economies and the strong dollar.