Trusted News Intelligence That Accelerates Financial Analysis and Shields Against Surprises

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  "text": "MORGAN, MINN. – Beneath the surface of Farmfest’s tractor sales and herbicide chats this week is a brewing financial crisis for Minnesota’s farmers.\nHundreds have asked the state to intervene with their bankers, a midsummer level not seen since 2016, according to the University of Minnesota Extension.\n“Every year anymore, there’s 20 percent who really struggle,” said Garen Paulson, an extension educator in Lamberton who specializes in business management. “That doesn’t sound like a lot, but think of your neighbors. That’s a pretty good size measure.”\nIn June, 197 farmers filed notice for help from the Extension’s Farmer-Lender Mediation program. July was even worse with 306 notices, a four-fold increase over the same month last year.\nThe upending of global trade has ignited farmer anxiety and resurfaced haunting memories of the 1980s farm crisis that devastated rural Minnesota and other swaths of the heartland.\nGene Stengel, who has farmed in Yellow Medicine County since the early 1970s, said the markets’ nosedive has made him consider the once-unthinkable: potentially selling off land or assets.\n“You can’t sustain the losses,” he said. “It’s going to force sales.”\nStengel said his banker told him there was little wiggle room on his loans, including refinancing. He has until January to decide.",
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  "text": "MORGAN, MINN. – Beneath the surface of Farmfest’s tractor sales and herbicide chats this week is a brewing financial crisis for Minnesota’s farmers.\nHundreds have asked the state to intervene with their bankers, a midsummer level not seen since 2016, according to the University of Minnesota Extension.\n“Every year anymore, there’s 20 percent who really struggle,” said Garen Paulson, an extension educator in Lamberton who specializes in business management. “That doesn’t sound like a lot, but think of your neighbors. That’s a pretty good size measure.”\nIn June, 197 farmers filed notice for help from the Extension’s Farmer-Lender Mediation program. July was even worse with 306 notices, a four-fold increase over the same month last year.\nThe upending of global trade has ignited farmer anxiety and resurfaced haunting memories of the 1980s farm crisis that devastated rural Minnesota and other swaths of the heartland.\nGene Stengel, who has farmed in Yellow Medicine County since the early 1970s, said the markets’ nosedive has made him consider the once-unthinkable: potentially selling off land or assets.\n“You can’t sustain the losses,” he said. “It’s going to force sales.”\nStengel said his banker told him there was little wiggle room on his loans, including refinancing. He has until January to decide.",
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