Chapter 12 farm bankruptcies have hit highs not seen for a decade in some states, setting off alarms, with some wondering whether the farm economy could be headed for a crisis similar to the one that occurred in the 1980s. A deeper look at the numbers tells a different story.
“Some deterioration in credit quality” for borrowers in the agricultural sector is evident in a new set of financial indicators of the Farm Credit System posted last week by the system’s federal regulatory agency, the Farm Credit Administration.
WASHINGTON, Aug. 11, 2017 - The decline in commodity prices continues to weigh on farm income and land values, but bankers see signs that the agricultural economy is stabilizing over many of the Midwest and Plains states.
WASHINGTON, June 15, 2017 – Members of President Trump’s Cabinet and senior officials from the White House and throughout the federal government today pledged to forge agreement on ways to boost the farm economy and address economic and social challenges across rural America.
WASHINGTON, Feb. 8, 2017 - There is more evidence of a continued downturn in the U.S. farm economy. USDA says that net farm income is likely to decline this year by 8.7 percent to $62.3 billion. That would make this the fourth straight decline since the peak in 2013.