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.
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.
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.