Ag lender says dry crops are drying up farmer’s spending plans
An ag lender says dry weather conditions have made farmers extra cautious.
Jake Greenberg with Compeer Financial tells Brownfield commodity prices are good, but farmers are worried about having enough in the bin this fall to make money and, “It’s put on a little slowdown as far as folks making to look purchases or buying land. There’s just a lot of concern right now with the drought.”
Greenberg says if farmers get more rain, it might not turn out too bad but there are yield concerns out there. “There’s a concern that there may not be a lot out there in the field and the forecast isn’t looking good, so it brings about those concerns and where they’re going to be sitting with working capital.”
Greenberg says some of his clients are delaying land purchases and building projects. “And, with the prices of everything being up, I mean, it’s a little tough to go forward with that new project right at this point, particularly in construction.”
Greenberg spoke to Brownfield at Wisconsin Farm Technology Days in Eau Claire, Wisconsin.