Farmers have been feeling the pinch of tight times with the ag economy for quite some time, and now those concerns are being reflected in Farm Bill talks in Washington D.C.
During a Senate Committee on Agriculture, Nutrition, and Forestry hearing on the 2018 Farm Bill and rural economy, crop insurance adjusters voiced their concerns about the state of the economy with loans and farm debt.
“The decline in farm income has stressed the ability of borrowers to cash flow,” said Brenda Kluesner, loan officer and crop insurance manager at Royal Bank. “Many farmers have strong equity but not enough working capital or positive cash flow. Demand for debt restructuring will increase.”
She also said she would like to see USDA transfer unused surplus funds to these programs.
For a list of upcoming hearings, click here.