WICHITA, Kan. (AP) – The nation’s farmers are struggling to pay back their
loans after years of low crop prices, with nearly one out of five loans in a
government farm program now delinquent for the worst January default rate in at
least nine years.
The bulk of the nation’s agricultural loans typically come due around Jan. 1st
for seasonal and tax planning purposes.
Figures recently compiled show an overall jump nationwide in delinquencies for
producers with direct loans from the Agriculture Department’s Farm Service
Agency.
David Schemm, executive director of the Kansas Farm Service Agency, says 19.4
percent of FSA direct loans nationwide were delinquent in January, compared to
16.5 percent the same month a year ago.
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