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In the 1920s, wheat prices were relatively stable but began to decline towards the end of the decade, influenced by overproduction and falling demand. The Great Depression in the 1930s exacerbated this decline, leading to plummeting prices as farmers struggled with surplus crops and reduced purchasing power. By the mid-1930s, prices reached historically low levels, prompting government intervention through programs like the Agricultural Adjustment Act to stabilize the market.

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2w ago

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