February 27, 2019

Farm debt at 1980s level

Reuters -The amount of debt held by America’s farmers has risen rapidly to 1980s-levels at $409 billion, from $385 billion last year, with loan demand remaining “historically high,” U.S. Agriculture Secretary Sonny Perdue said.The figures reflect a level of strain on the U.S. farm belt that is comparable to the agricultural crisis of three decades ago, this time driven by lingering weakness in commodity prices and loss of key export markets such as China due to President Donald Trump’s trade disputes.

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