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Midwest farmers going bankrupt

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MOLINE, Illinois- Farmers in the Midwest are going bankrupt faster than during the 2008 recession.

According to statistics from the 7th Circuit Court of Appeals, twice as many farmers in Illinois filed for bankruptcy last year.

Data from the 8th Circuit Court of Appeals shows farmer bankruptcies in Iowa went up 96 percent.

Farmers have difficulty managing among sinking commodity prices, China's tariffs, and increasing agricultural competition from Russian and Brazilian producers.

A spokesperson for the National Farmers Union says prices will likely continue to drop for years to come because of the U.S. losing its reputation as a reliable trading partner.

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