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ottertail co mn | I ask a lot of questions at the bankers office. A lot of things have been over looked during the good times at banks. There are plenty of banks in trouble themselves with what is going on in the ag and oil sectors. Now they are requiring that you provide information that has always been required. If you are prepared to walk I would have my ducks in a row. There are not many banks willing to pick up new customers right now if you are a farmer.
I don't think 20% will be working at Mickey d's next year, but 10% wouldn't surprise me. I just talked to my banker this week and he said no worries for next year but guess what...
I am financially ok, not good not bad, but one little change in examiners criteria and 50% of us could be at fsa door step waiting to get a loan.
If you think this is funny well, I hope you have cash and lots of it.
Not everyone locked in $4 corn in June, in fact 90% didn't that I have talked to. Most people maybe have 25% contracted at a price less than $4 if they did contract.
Now is not the time to be cocky, now is the time to eat humble pie and ask your banker what he would like to see.
End of rant, but not really... I could go on much farther but there is already to much to read in this post... | |
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Suprised at all the banking responses
