U.S. farmers are bracing themselves for another rough year, as incomes are the lowest since 2002 and no relief in sight.
CCTV America’s Roza Kazan reports.
Falling commodity prices impacting US farmers incomeU.S. farmers are bracing themselves for another rough year, as incomes are the lowest since 2002 and no relief in sight. CCTV America's Roza Kazan reports.
The price of corn and beans, the top Midwest crops, are half what they were three years ago. The U.S. Department of Agriculture expects farm income to fall for the third year in a row. Farmers’ debt is projected to pass 372 billion dollars this year, the highest since the late 1970s.
Everyone from farmers who can’t afford new equipment to seed sellers and auctioneers are feeling the pressure.
Kevin McNew on agricultural business
CCTV America’s Michelle Makori interviewed Kevin McNew, the president and founder of Grain Hedge about the agricultural business.