According to an analysis from Agricultural Economic Insights, the farm income squeeze has been felt by some states more than others. Compared to 2022-2023, net farm income last year was down 47 percent in North Dakota. That’s on par with California and ahead of the 57 percent change in Illinois. Farm income was down 34 percent in Minnesota, but only five percent in South Dakota. AEI said farm income has been soft in the Northeast, but Illinois, Minnesota and North Dakota have been among the hardest hit in recent years.
