The current downturn in the agriculture economy means that farmers’ business and financial skills are becoming even more important, the head of Iowa’s largest farm lending organization said last week at the Iowa Farm Bureau's 2019 Economic Summit in Des Moines.

“We see a continuation of this low-margin environment, and that is putting a premium on making proactive adjustments to your operations and financial position,” said Jim Knuth, senior vice president of Farm Credit Services of America. “Agriculture is rewarding producers who are increasing their business, financial and market acumen.”

Some farmers, Knuth said, may have gotten caught up in waiting for a recovery and hoping that things will get...