Farm bankruptcy filings in the year through June were up 13% from 2018, and loan delinquency rates are on the rise, according to the American Farm Bureau.
A challenging growing season, low prices, liberal use of Renewable Fuel Standard waivers and, of course, trade policy, are straining the ag sector, the group noted. President Donald Trump signed into law a measure that would more than triple the debt cap on Chapter 12 bankruptcy to $10 million from a prior $3.237 million.
While the level of bankruptcies is up, they still are well below the levels seen during the farm crisis in the 1980s. This also puts more attention on the Friday update from USDA on U.S. farm income.
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