There are mounting concerns about the direction of the farm economy. The U.S. Department of Agriculture expects farm income to fall for the third year in a row in 2016. At the same time, farmers are borrowing billions more from banks to get by.
The change in farm fortunes follows a drop in prices for corn and soybeans, the top Midwest crops. Supply and demand are both working against the commodity markets. Farmers have raised an oversupply of grain, while at the same time the slow global economy has brought down demand.