Costs for seeds, fertilizer and equipment climbed so high and grain prices dropped so low that he still lost more than $120 an acre. Costs for farm supplies like fertilizer have fallen, and economists foresee increasing pressure on seed prices and land rental rates. In the late 1970s, he joined thousands of farmers in Washington for a demonstration urging the government to address low grain prices and farm foreclosures. “Farms got bigger to be more efficient, but it’s caused these towns to die a slow death,” Mr. Scott said. If grain prices remain weak, the farm could be next.

Source: Wall Street Journal February 08, 2017 17:00 UTC