Why did crop prices decline in the 1870's?

Answer 1

Crop prices declined in the 1870s due to several factors, including overproduction following the post-Civil War agricultural boom and increased competition from foreign markets. Technological advancements in farming also led to higher yields, which, coupled with a growing supply of grain, drove prices down. Additionally, economic challenges such as deflation and the fallout from the Panic of 1873 further exacerbated the situation, leading to reduced demand and lower prices for crops.