“Farm Bankruptcies Rise in Over Half of States”
November 8, 2019
“Across the country, farmers are struggling with particularly difficult financial realities. The past year has seen extreme flooding in the Midwest and drought in the West, a tariff war that resulted in commodity prices plummeting, and falling land value…
… “Farm debt has been rising more rapidly over the last five years, increasing by 30 percent since 2013—up from $315 billion to $409 billion, according to USDA data…
Now, new figures from the American Farm Bureau Federation are also sparking concern. From October 2018 to September 2019, Chapter 12 farm bankruptcies rose 24% from the prior year and reached the highest level since 2011. Twenty-seven states saw a rise in bankruptcies compared to the previous year. The report also estimates that farm debt will rise to $416 billion by the end of 2019…”
https://www.routefifty.com/finance/2019/11/over-half-states-see-rise-farm-bankruptcies/161101/