Farm Bust May be on Horizon
Sales of farm machinery and construction of grain handling and livestock infrastructure will shrink
The U.S. Department of Agriculture predicts farmers will produce a record corn crop in 2016. I predict that 2016 will go down in farm history for another reason: This is the year in which a farm financial crisis will become national news.
Don’t be alarmed. People over 50 in farm states will recognize the term “farm financial crisis” from the 1980s, when a land boom begun a decade earlier finally popped. High numbers of farmers went bankrupt. Millions of acres of land were foreclosed upon. Hundreds of banks failed. To read more click here.