US farm bankruptcies rise third year; China halts soybean imports, debt to hit $624.7B by 2026

Agricultural bankruptcies in Illinois have risen for a third consecutive year, driven by higher input costs and China's cessation of American soybean purchases. National agricultural debt is projected to reach US$624.7 billion by end-2026, with small farms most exposed. The development signals sustained stress in US agriculture, likely reflecting broader trade tensions and financial strain.

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