Farmers Borrowed More in 2018

April 25, 2019 03:40 PM
 
 

New numbers show producers are borrowing more money to make ends meet. The numbers come from the American Bankers Association.  It reports U.S. farm banks increased agriculture lending by 5.3%.  It represents an increase of $5.5 billion.  

thumbnail Farm Bank Loans

 

The highest numbers of loans in 2018 were in the corn belt region, with 842 farm banks increasing farm loans 5.24% to $47.9 billion.

 

 Farm Bank Loans 2 1

The U.S. banking industry is also a major source of funding for small farmers, with more than $78 billion in small and micro farm and ranch loans by the end of last year.

You can read the full report here.

 

 

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Comments

 
Spell Check

ck
bad axe, MI
4/26/2019 11:38 AM
 

  If theses crop prices don't rebound this year this thing is going to get really interesting in 2020. Half the farmers in our area haven't paid back last years line of credit, and can't borrow anymore money even with the $450,000.00 increase limit this spring by FHA . The only thing that's holding this thing up is you can sell land off at decent money yet to pay down debt .

 
 
Dave
Northern, Il, IL
4/26/2019 01:30 PM
 

  I have been farming for 45 years. Unfortunately, history does somewhat repeat itself. I can see the 80's and early 90's happening once again. For those of you that think the rumpster is your saving grace, you are in for a huge surprise!

 
 

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