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While lower prices have many farmers focused on their short-term profitability, succession planning is an important key to ensuring the longevity of their operations.
Lower commodity prices have brought tight margins to farmers around the country—and last year farm income was the lowest since 2002.
Lower commodity prices pose a unique challenge of staying profitable in a tough market.
According to the USDA Economic Research Service, U.S. net farm income is set to decline by 36 percent in 2015, and commodity prices are not expected to improve in the foreseeable future.
2015 delivered a tough growing season for many Illinois farmers, and lower soybean prices to follow.
As small business owners, farmers often need to purchase health insurance for themselves and their families.

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