The world economic crisis that began in 2008 has major consequences for U.S. agriculture, according to a new report from the USDA’s Economic Research Service. Weakening global demand results in reduced exports and lower agricultural commodity prices, leading to lower U.S. farm income and downward pressures on farm real estate values. So far, however, the overall impact on U.S. agriculture is not as severe as on the broader U.S. economy, according to the report. Record-high agricultural exports, prices, and farm income in 2007 and 2008 put U.S. farmers on solid financial ground.

Also, the debt-to-equity ratios in agriculture tend to be more conservative than those in most other sectors of the economy.

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