The Farm Recession Is Here

Wall Street Journal: “The U.S. farm sector finds itself in another rough patch. Net farm income declined 4% this year to $141 billion after falling about 20% last year, according to the Agriculture Department. … Some of the world’s largest grain shippers and pesticide suppliers are girding for a shrinking farm economy by cutting costs or laying off workers.”

“Agriculture trade groups are circulating lists of requests to lawmakers extending beyond direct payments that could buffet against the current market slump.”