Rural America is suffering an economic crisis as crop prices plunge [View all]

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Rural America is suffering an economic crisis as crop prices plunge — ‘U.S. soybean farmers cannot survive a prolonged trade dispute’ - Fortune

Agricultural trade groups have sounded the alarm recently on the state of farmers, who are grappling with a continued slump in prices for their crops and worsening credit conditions. They have asked lawmakers to help increase access to export markets, including China, which is still locked in a trade war with the U.S.

U.S. producers of corn and soybeans have sent dire warnings as prices for their crops have crashed in recent years while ... Donald Trump’s trade war whipsaws farmers.

On Thursday, the National Corn Growers Association raised alarms about “the economic crisis hitting rural America, as commodity prices drop at a time when input costs remain at near-record highs.”

Corn prices have plunged more than 50% from their 2022 peak, while production costs are down just 3% in that span, translating to a loss of 85 cents per bushel, the NCGA said, adding that the outlook for next year is worse with even lower prices and higher costs.