COLUMBIA – Large government payments helped 2020 Missouri net farm income match or exceed the 2014 record of $3.4 billion, Abigail Meffert said. Meffert is a senior research associate with the University of Missouri Food and Agricultural Policy Research Institute, or FAPRI. Missouri’s outlook falls in line with the U.S. Agricultural Market Outlook, a summary of 10-year baseline projections presented March 26 at the annual Abner W. Womack Missouri Agriculture Outlook Conference. During the conference, FAPRI Director Pat Westhoff reported 2020 U.S. farm income hit the highest level since 2014 because of large government payments and a rebound of commodity prices in the final months of the year. Meffert projects net income will fall in 2021 and 2022 because of reduced government payments and higher production costs, despite higher crop and livestock receipts. Projected income exceeds the low levels of 2015-2018. Strong prices and returns are pushing farmers to plant more soybeans,…