Farm bankruptcies surpass Great Recession levels in upper Midwest – Axios
An analysis by the Federal Reserve Bank of Minneapolis found that 84 farm operations in the upper Midwest filed for Chapter 12 bankruptcy from June 2017 to June 2018.
Why it matters: The number of bankruptcies filed by these farm operations is double the total from 2014 and even surpassed the mark hit in 2010 at the peak of the Great Recession. Current price levels and trends suggest the number will continue to rise, according to the report.
Details: The report examines filings from North Dakota, South Dakota, Minneapolis, Montana and Wisconsin.