Friday, September 06, 2019
Farmers fall more behind on loans from community banks
"A U.S. banking regulator on Thursday said more farmers were falling behind on loans held by community banks compared to a year earlier and that it was watching risks in the agriculture sector," Jason Lange reports for Reuters.
The Federal Deposit Insurance Corporation noted in its quarterly report on U.S. banks that some farmers are struggling because of low commodity prices and farm incomes. Though the FDIC report did not discuss causes, the trade war has depressed commodity prices over the past year as China, once the top buyer of U.S. soybeans, has severely reduced its purchases, Lange reports.