Most farmers are ending the year in better financial shape than they did in 2019. Farm Business Management instructor Josh Tjosaas, based at Moorhead, says there has been a lot of healing for the balance sheet. “We’ve seen some improvement on working capital for a good chunk of our farmers and improvements on net worth. For those things to happen, you have to some profitability on the farm.” Government payments are having a significant impact on farm income. However, Tjosaas says most of those payments are for the losses experienced in 2018 and 2019.
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