Farm loan delinquencies hit nine-year high

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February 28, 2019 - 10:34 AM

WICHITA, Kan. (AP) — The nation’s farmers are struggling to pay back loans after years of low crop prices and export markets hit by President Donald Trump’s tariffs, with a key government program showing the highest default rate in at least nine years.

Many agricultural loans come due around Jan. 1, in part to give producers enough time to sell crops and livestock and to give them more flexibility in timing interest payments for tax filing purposes.

“It is beginning to become a serious situation nationwide at least in the grain crops — those that produce corn, soybeans, wheat,” said Allen Featherstone, head of the Department of Agricultural Economics at Kansas State University.

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