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I wonder how much prior boom times have an impact on farmers because prices on the crops have just languished for years now.

2008 had very aggressive price appreciation in corn & beans. Same can be said for late 2010, all 2011, all 2012, & early 2013. After that prices have absolutely fallen off a cliff & continue to hover near those lows every single day.

I suspect it's difficult to be in the "risk management" business which farmers are by being "long" the crop in the ground & having no price appreciation for years. Meanwhile all other risk assets continue to explode higher. At some point it probably becomes challenging to find a light at the end of the tunnel. Now with rising interest rates the cost of capital is higher & likely going to accelerate higher.

Higher operating costs (wages & debt service) & continually deperessed prices of the product you produce. I don't have a solution for any of this but by putting myself in those shoes it sure does seem horrible.