Nearly 2,300 farms are represented in the database. These farms spent an average of just under $1 million in their local communities. Direct crop inputs were the biggest expense category, totaling $185,000. Minnesota farmers enjoyed the highest net farm income in the past seven years. Working capital increased more than $105,000. For the first time since 2017, the term debt coverage ratio this past year was considered strong. In addition to the statewide numbers, there are specific regional reports for the Red River Valley, northern Minnesota and other parts of the state. The reports can be found online.
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