How bad is this farm slump?
Farmers are making comparisons with the 1980s bust
THE farm crisis in the 1980s left a deep mark on the Midwest. It was the worst downturn in farming since the Depression. After an unprecedented boom in demand for wheat ended, thousands of farmers faced ruin. Agricultural banks and makers of farming equipment were washed away by a wave of bankruptcies. Midwestern farmers look at parallels with the 1980s whenever their cyclical industry is heading downwards. Prices for corn, wheat and other agricultural commodities started to fall after their peak in 2013, since when the comparison has been raised again.
This article appeared in the United States section of the print edition under the headline “Rhyme time”
United States April 1st 2017
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- How bad is this farm slump?
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From the April 1st 2017 edition
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