An American institution is heading for a fall. American agriculture is heading for a fall.
It is time for the harvest!
I have been watching this sector of our economy closely….one because the new tariffs could have a lasting effect on the farming in this country…..I have written a couple posts recently….
The Wall Street Journal is also watching this sector and their insights are not very good for the coming year…..
The Farm Belt is hurtling toward a milestone: Soon there will be fewer than two million farms in America for the first time since pioneers moved westward after the Louisiana Purchase.
Across the heartland, a multiyear slump in prices for corn, wheat and other farm commodities brought on by a glut of grain world-wide is pushing many farmers further into debt. Some are shutting down, raising concerns that the next few years could bring the biggest wave of farm closures since the 1980s.
The U.S. share of the global grain market is less than half what it was in the 1970s. American farmers’ incomes will drop 9% in 2017, the Agriculture Department estimates, extending the steepest slide since the Great Depression into a fourth year.
How sad that a true American institution is slowly withering away….the government will step in but it may be too late for it to save this way of life.