{"id":22718,"date":"2017-02-09T20:34:58","date_gmt":"2017-02-10T01:34:58","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22718"},"modified":"2017-02-09T20:34:58","modified_gmt":"2017-02-10T01:34:58","slug":"midwest-farm-bubble-continues-collapse-as-farm-incomes-expected-to-crash-in-2017","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22718","title":{"rendered":"Midwest Farm Bubble Continues Collapse As Farm Incomes Expected To Crash In 2017"},"content":{"rendered":"

Midwest Farm Bubble Continues Collapse As Farm Incomes Expected To Crash In 2017<\/a><\/h3>\n
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Earlier this week the U.S Department of Agriculture released its biannual report of farm incomes which paints a very bleak picture for the American farmer.\u00a0 In its first forecast for 2017, the\u00a0USDA sees real farm cash receipts down 14% versus 2015 and 36% from the previous high set in 2012 as farm debt continues to soar and leverage surges to all-time highs.\u00a0\u00a0<\/strong><\/p>\n

As the\u00a0Wall Street Journal<\/a>\u00a0notes, the\u00a0deadly combination of rising input costs, lower grain prices, a strong dollar and excessive leverage\u00a0<\/strong>will likely force many of America’s Midwest farmers out of business in 2017.<\/p>\n

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Costs for seeds, fertilizer and equipment climbed so high and grain prices dropped so low that he still lost more than $120 an acre.<\/strong>\u00a0Afraid to come up short again, Mr. Scott decided last fall not to plant 170 acres of winter wheat, close to a third of the usual amount.\u00a0U.S. farmers sowed the fewest acres of winter wheat this season in more than a century.<\/strong><\/div>\n

\u201cNo one just grain farms anymore,\u201d<\/strong>\u00a0said Deb Stout, whose sons Mason and Spencer farm the family\u2019s 2,000 acres in Sterling, Kan., 120 miles east of Ransom. Spencer also works as a mechanic, and Mason is a substitute mailman. \u201cHaving a side job seems like the only way to make it work,\u201d she said.<\/p>\n

The and her husband have declared bankruptcy before. Farmers around Sterling lost $6,400 on average in 2015,<\/strong>\u00a0the latest available data, after profits of $80,800 a year earlier, according to the Kansas Farm Management Association.<\/p><\/blockquote>\n

\"Farms\"<\/a><\/p>\n

Meanwhile, America’s share of the global grain trade has been cut in half since the 1970’s giving domestic farmers less control over pricing which has grown increasingly volatile over the past decade.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Midwest Farm Bubble Continues Collapse As Farm Incomes Expected To Crash In 2017 Earlier this week the U.S Department of Agriculture released its biannual report of farm incomes which paints a very bleak picture for the American farmer.\u00a0 In its first forecast for 2017, the\u00a0USDA sees real farm cash receipts down 14% versus 2015 and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[14790,7904,827,4318],"class_list":["post-22718","post","type-post","status-publish","format-standard","hentry","category-economics","tag-farm-bubble","tag-farms","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22718"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22718\/revisions"}],"predecessor-version":[{"id":22719,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22718\/revisions\/22719"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}