Compeer Financial Services President and CEO Jace Wagner expects many farmers will finish the year at less than break-even levels. Even with low commodity prices, farmers had strong equity positions in the past few years. Wagner said that is changing. “We’re seeing some cash burn; they’re starting to see some drawn operating lines which tells us some of that cushion they had the last couple years may not be there as much anymore, but they’re still in a very strong overall position.” Wagner said it is important to communicate with your lender and crop insurance agent. “Try to take some of that risk off the table, whether you’re locking in a long-term fixed rate interest rate on your land or working with your crop insurance provider to get the right level of insurance for you and your operation.” Listen to the full interview.
