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Ag lender sees positive economic signs

An official with one of the nation’s biggest ag lenders says there are some positive economic signs for corn and soybean producers.

“The grain side looks to be at a point today where we’ve reduced our input costs and where farmers can actually go out and hedge in or sell grain for 2018 production at a profit or breakeven,” says Tom Jensen sr. vice president of ag lending for First National Bank of Omaha. “So, yes, I think there are some pretty positive signs.”

At the same time, Jensen says, trade issues have created a lot of uncertainty.

“The exports, and how we’re going to work out NAFTA and the other trade agreements, are things we get concerned about,” he says. “Sitting here in Nebraska, we have a large portfolio on the beef sector, and 16 to 18 percent of all beef production is exported. On the pork side, it’s 22 to 24 percent. So those are huge factors that influence prices.”

But the reports that China and the U.S. are trying to work out their trade differences are positive, Jensen says.

AUDIO: Tom Jensen