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As the 1920s progressed, farm incomes began to decline significantly after the initial post-World War I boom. The agricultural sector faced challenges such as overproduction, falling prices, and increased competition from foreign markets. Many farmers struggled with debt and an inability to adapt to the changing economic landscape, leading to widespread financial hardship in rural areas. This decline foreshadowed the difficulties that would deepen during the Great Depression in the 1930s.

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