A Farm Recession Arrives: Implications For Farmers, Food Prices, And The Economy

In Minnesota, Sarah Thompson has run her family’s 1,200-acre farm for over two decades, growing soybeans and corn alongside raising livestock. This year, her farm faced one of its most challenging seasons. Fertilizer prices, which surged over 70% in recent years, are still far above pre-pandemic levels, and the price of feed for her livestock has nearly doubled.