Impact of Global Economic Crisis on Agriculture

This book explores the world economic crisis that began in 2008, and which has had major consequences for U.S. agriculture. The weakening of global demand because of emerging recessions and declining economic growth results in reduced export demand and lower agricultural commodity prices, compared with those in 2008. These, in turn, reduce U.S. farm income and place downward pressure on farm real estate values. So far, the overall impact on U.S. agriculture is not as severe as on the broader U.S. economy because the record-high agricultural exports, prices, and farm income in 2007 and 2008 put U.S. farmers on solid financial ground.