Low crop prices have taken a toll on growers this year, and that has become evident when looking at loan data.
The Kansas City Fed shows commercial banks have backed 40 percent more loans to farmers over the last year, and they are also taking out higher dollar amounts.
For the first time in 20 years, loans over $1,000,000 make up the majority of lending. The Fed says the loans were issued mainly through small and mid-sized lenders, underscoring the hurt right now for smaller family operations.
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