Farmers Borrowed More in 2018

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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.  

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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.

 

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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.

 

 

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