{"id":47729,"date":"2019-08-11T07:15:09","date_gmt":"2019-08-11T12:15:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=47729"},"modified":"2019-08-11T07:15:15","modified_gmt":"2019-08-11T12:15:15","slug":"farmageddon-farm-loan-delinquencies-and-bankruptcies-soar-incomes-plunge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=47729","title":{"rendered":"Farmageddon: Farm Loan Delinquencies And Bankruptcies Soar, Incomes Plunge"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/news\/2019-08-09\/farmageddon-farm-loan-delinquencies-and-bankruptcies-soar-incomes-plunge\">Farmageddon: Farm Loan Delinquencies And Bankruptcies Soar, Incomes Plunge<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Following years of depressed farm income and rising debt levels, a review of the Federal Deposit Insurance Corporation (FDIC) quarterly report by&nbsp;<a href=\"https:\/\/www.tsln.com\/news\/farm-loan-delinquencies-and-bankruptcies-are-rising\/\">Tri-State Livestock News<\/a>&nbsp;reveals that<strong><em>&nbsp;&#8220;delinquency rates for commercial agricultural loans in both the real estate and non-real estate lending sectors are at a six-year high.&#8221;<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">About 2.5% of commercial real estate loans in agriculture were 30 days past due in 1Q19, up from 2.1% in the prior quarter and above the historical average of 2.1%. 2.3% of non-real estate loans in agriculture held by commercial lenders were 30 days past due, up from 1.5%&nbsp;in the previous quarter and above the historical average of 1.7%.&nbsp;<strong>Delinquency rates for commercial lenders haven&#8217;t been this high since 2013.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/farm%20bankrupt_0.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Delinquency rates of agriculture loans aren&#8217;t at crisis levels yet but have trended above historical averages in the last several years as farm incomes in the Midwest and Mid-Southern states have collapsed over the previous six years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Net farm income, a broad measure of profits, has fallen 45% since a high of $123.4 billion in 2013 to about $63 billion last year, according to the US Department of Agriculture (USDA).<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Farm incomes are expected to be significantly lower in 2019 as record floods devastated large parts of the Farm Belt this year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">About two-thirds of agriculture banks surveyed by the St. Louis Fed said their farm clients were severely affected by the flooding and other adverse weather conditions through summer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Farm incomes in several regions of the Midwest have become stable this year thanks to President Trump&#8217;s farm bailout(s) and elevated corn prices that started in May due to yield concerns following wet weather, according to bankers surveyed by the Kansas City Fed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Farmageddon: Farm Loan Delinquencies And Bankruptcies Soar, Incomes Plunge Following years of depressed farm income and rising debt levels, a review of the Federal Deposit Insurance Corporation (FDIC) quarterly report by&nbsp;Tri-State Livestock News&nbsp;reveals that&nbsp;&#8220;delinquency rates for commercial agricultural loans in both the real estate and non-real estate lending sectors are at a six-year high.&#8221; About [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3903,26501,26487,3453,13447,26500,4318],"class_list":["post-47729","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bankruptcies","tag-farm-loan-delinquencies","tag-farmageddon","tag-fdic","tag-federal-deposit-insurance-corporation","tag-us-farming","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47729"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47729\/revisions"}],"predecessor-version":[{"id":47730,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47729\/revisions\/47730"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}