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Bank Balance Sheets Show Farmers Face Financial Hardship
Bank and Federal Reserve data across nine Great Plains states reveal widespread strain among farmers. A USDA survey shows one third of borrowers refinancing and 6 percent unable to meet obligations, while Kansas banks report 45 percent of farm borrowers in serious trouble and 86 percent of wheat farmers expect losses. Prices for wheat and corn have fallen sharply, though cattle prices have improved. Bankers warn continued low grain prices could force closures and consolidation beyond 12 to 18 months, with relief tied to government programs and possible farm credit legislation.
MENTIONED IN THIS ARTICLE
Wichita, Kan
Great Plains
Federal Reserve Bank of Kansas City
Kingfisher
USDA
North Dakota
South Dakota
Nebraska
Kansas
Oklahoma
Colorado
Montana
Texas
Kansas Bankers Association
Washington
Odd Williams
Lawrence
Kan
Edward Harshbarger
Federal Reserve
Kansas City
Oklo
Wayne Hasenfratz
Hasenfratz
Kingfisher Bank & Trust Co
Richard Barnes
North Platte
Neb
First National Bank & Trust Co