The comments/narrative in TFA don't line up with FRED. 2022 was like 3x more profitable overall compared to 2016, and 2023 wasn't much worse. It's definitely coming back down.

From TFA though, 2400 is like 2x-2.5x median farm size. That's not a small farm size. It's not a massive corpo farm, but it's not a small farm. So the segment quoted in that article might be under some pretty specific pressures (other commenters alluded to - they may have bought some very pricey equipment during good years - an actually small farm will get by on shittier equipment or just rent for a brief harvest)