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North Central Iowa | I have not farmed for 3 years now. But I kept telling my farmer friends that the ag industry was not going to let them make $300 to $400 dollars an acre profit. Things someday were going to change and everyone was going to stick their hand in their pocket. Well look what has happend the last 3 years. In the late 70's the bankers couldn't shove money into farmers hands fast enough. Then the 80's came and your friendly banker was more afraid of losing his job and had to pull the rug out from some of his clients. But his clients kept telling him that we were in a new plateu in farming ( heard that before ) and just keep loaning them money because next year was going to be better. Ask some of the old guys that farmed in the 80's and they are going to tell you exactly how these conversations are going to go with your banker this winter and next winter. It's easy to get big into farming, just bid more than anyone else is willing to give. Lets see how easy it is to get smaller and more efficient. | |
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Bankers in for bad fall.
