Farm bankruptcies soar to highest totals since 2001

And it can only get worse with the trade war that has devastated rural America:

According to numbers from the Iowa Farm Bureau, just five years ago in 2013, only four farms declared Chapter 12 bankruptcy. In 2017, the total number of Chapter 12 bankruptcies climbed to 18- the highest total since 2001. Now farmers across the state are left waiting for the market to bounce back, while surviving in the meantime.

“Just like every market does, we’re back on the downturn of prices,” said James Cornelius, a fifth-generation farmer from Bellevue.

Farmers may have tricks of the trade, but it is not a trade secret that it has become more of a financial struggle for agriculture in Iowa over the recent years.

What's up?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s