Farmers Face Tough Times as Next Generation Takes Over

The family farm has been a cornerstone of rural America for generations, but as the next generation takes over, they're facing new challenges in an increasingly turbulent agricultural economy.

Mike Langseth's family home has stood for over a hundred years in North Dakota. He took control of the farm three years ago, just as crop prices began to fall and input costs started to rise.

'You make or lose an awful lot of money just based on when you do or don't market your crop or buy your other inputs,' Langseth said. 'It's challenging.'

Wesley Tucker, a farm and ranch transition specialist at the University of Missouri, notes that farmers are dealing with shifting trade policies, including widespread tariffs, which have elevated costs for machinery and operating expenses.