Articles tagged under: Wells Fargo
Think Ahead for Next Year
Published July 6, 2022
Strong commodity prices are helping this year, but Wells Fargo Chief Agricultural Economist Michael Swanson reminds farmers to be planning ahead to 2023. "They have the ability to sell ahead when they're buying inputs," says Swanson. The four biggest expenditures…Discipline Needed When Renting Farm Ground
Published February 10, 2022
Land rents remain one of the top expenses for farmers. "Between 30 and 33 percent of corn revenue ends up, if you're renting ground, going into the landlord's pocket," said Michael Swanson, chief agricultural economist, Wells Fargo. "If someone in…Higher Commodity Prices Boost Land Values
Published November 23, 2020
An uptick in commodity prices can impact on land values. Wells Fargo Agricultural Economist Michael Swanson says there’s been strong farm real estate pricing in Minnesota. "Between lower financing costs and $11 soybeans, there's a lot of bullishness. Also, any…Swanson: Make Tough Cash Rent Decisions Now
Published September 25, 2020
According to Wells Fargo Agricultural Economist Michael Swanson, the farm balance sheet looks strong on paper, but there is a disconnect between the USDA’s definition of a strong balance sheet and farmer sentiment. "When you look at the levels of…A U.S. Recession is Possible
Published March 18, 2020
President Donald Trump told reporters the U.S. could be sliding into a recession. According to Wells Fargo agricultural economist Michael Swanson, there is a risk. The technical definition for a recession is two consecutive quarters of negative growth. "It's very…Ag Banking Layoffs
Published October 29, 2019
Reuters is reporting Wells Fargo has laid off more than 200 bankers in recent months. A large share of those layoffs were in the agriculture business unit. The agriculture group at Wells Fargo reportedly cut 25 percent of its ag…Wells Fargo Announces Agribusiness Group
Published September 6, 2019
Wells Fargo has formed a food, beverage and agribusiness group within its commercial banking division. Jacquie Fredericks will lead the agribusiness division for the central region, which includes Minnesota, North Dakota and South Dakota. Fredericks previously worked for CoBank.Wells Fargo CEO Resigns
Published March 29, 2019
Saying the bank would benefit from a fresh perspective, Wells Fargo CEO Tim Sloan is stepping down. The organization’s general counsel is taking over the job on an interim basis. The American Bankers Association ranks Wells Fargo as the largest…