Only 169 farms went through bankruptcy last year. That’s the lowest number since the Chapter 12 bankruptcy provision became permanent in 2005. The Midwest, which includes Minnesota, North Dakota and South Dakota, had the largest percentage decline. There were just 47 filings in the Midwest last year, down from 144 in 2021. The report from American Farm Bureau Market Intelligence said another year of fewer bankruptcy filings is not a guarantee with high input costs and price volatility.
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