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Farm loan delinquencies highest in 9 years

Farm loan delinquencies highest in 9 years

Farm Loan Delinquencies Highest in 9 Years as Prices Slump


The Associated Press - February 27, 2019

WICHITA, Kan.-- The nation's farmers are struggling to pay back their loans after years of low crop prices, with nearly one out of five loans in a government farm program now delinquent for the worst January default rate in at least nine years.

The bulk of the nation's agricultural loans typically come due around Jan. 1 for seasonal and tax planning purposes.

Figures recently compiled show an overall jump nationwide in delinquencies for producers with direct loans from the Agricultural Department's Farm Service Agency.

David Schemm, exexutive director of the Kansas Farm Service Agency, says 19.4 percent of the FSA direct loans nationwide were delinquent in January, compares to 16.5 percent the same month a year ago.



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