The year began with some optimism on grain prices and improved trade conditions with China, Canada, Mexico and other countries. Then COVID-19 hit in March and everything changed. Commodity prices for crops and livestock dropped rapidly; ag banking experts from across the region weigh in on the local impact. [Continue]
With pressure already exerted by years of low commodity prices, trade uncertainties and pandemic complications, farmers and ranchers in the central states faced a year of difficulties in 2020. Weather varied across the region, and Iowa notably endured the effects of a derecho storm in August that caused billions in damage. [Continue]
Although farmers and ranchers are resilient and used to adversity, all aspects of their lives and industries have been affected to some degree by COVID-19, whether mentally or physically. Here, regional ag banking experts way in on the impact of the pandemic and the economic downturn have had on the country’s ag industry. [Continue]
2020 has been a year of great uncertainty and extreme swings in the ag economy. The year started out with some optimism on grain prices and improved trade conditions with China, Canada, Mexico and other countries. Then COVID-19 hit in March and everything changed. [Continue]
In late 2019, when ag bankers reflected on the year and forecast expectations for 2020, they foresaw classic perennial challenges: bad weather and low commodity prices. What 2020 actually delivered would have been hard to predict. No one has been immune from the struggles the COVID-19 pandemic has wrought on the nation’s health or the economy, including farmers and their community banking partners. [Continue]
“Ag banking is different.” How many times have you heard that one? Or, if you are an ag banker, how many of you have used that argument in loan committee as the discussion goes on and on about the viability of a particular credit? Is ag lending really different, and if so how? [Continue]
Bankers are in a unique situation: They want their customers to be able to take advantage of low rates, but as responsible advisors to their farm and ranch customers, they don’t want their customers to plunge into debt too deeply just because rates are low. [Continue]
“Weather has been one of the big issues [in 2019] that has impacted agriculture. It started in the spring and did not let up all year. … The growing season saw plenty of struggles with wetness and cool temperatures. Finally, the delayed harvest due to slow growing conditions, wetness, early snow and liquid propane shortages all added up to an extremely difficult year for crop enterprises.” [Continue]
Looking ahead into 2020, many Midwest farmers see themselves in a holding pattern. With a presidential election looming, the economy tends to slow in the lead-up to November. A strong dollar isn’t helping. While some producers hold out hope for trade resolutions, others doubt it will make enough of an impact. [Continue]
Farmers seem to span the range in support of the trade war. There was initial support with producers seeing the need to fix some stuff, but that has decreased with time. The government payments have taken some of the sting out, but there is becoming a stronger sense that this is going to have some very long-term impacts on American agriculture. [Continue]