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n. Illinois | In 40+ years of Ag Lending never once observed someone go broke over a bad crop. Lenders will almost always work with you when that happens, 95% + of the corn soybean acres are now insured by Crop Insurance so you have to work really hard to find that guy without insurance today.
Bankruptcies in farming are 100% caused by bad financial decisions (and 95% of the farmers rarely consider the financial implications of their capital spending decision beyond how much taxes did that last capital purchase save) that span multiple years encouraged unfortunately by Ag Lenders who fail to educate their customers on the importance of working capital and the volatility in the financial results of production agriculture IE do everything exactly the same and in 2022 make a fortune and lose your ass in 2024.
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rise of farm bankruptcies due to trade war???
