US farms are disappearing at an alarming rate: The number of US farms fell -15,000 YoY in 2025, to 1.87 million, the lowest since the 1850s. This marks the 3rd annual decline and the 6th over the last 7 years. Over this period, the number of farms has dropped -158,200, or -8%. At the same time, total farmland has fallen -24.9 million acres, to 874 million, the lowest since the 1910s. Meanwhile, farm bankruptcy filings surged +36% YoY, to 293 in the first 9 months of 2025. US farms are in a long-term decline.(The Kobeissi Letter)