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November 26, 2013 AT 9:00 AM
The U.S. Department of Agriculture said updated forecasts for the U.S. farm sector show that 2013 will be the most lucrative year in decades for many agricultural producers. USDA estimated net farm income of $131 billion for 2013, a significant revision from an earlier forecast of $120.6 billion and up 15 percent from $113.8 billion in 2012.