The agriculture reset is now over half a decade in duration after the “golden years” of the commodity super cycle from 2006 to 2012. In recent years, some producers have experienced negative margins that have resulted in refinancing of losses to long-term debt to provide financial liquidity on the balance sheet. Those producers who were able and astute enough to build working capital during the “golden years” have burned through their reserves at a lightning pace. Now, commodity prices are at the whim of tariffs, trade agreements, and consumer demand.

A full-blown farm economic crisis would be in place if it was not for an important component on the balance sheet: farm and ranch land. For more, please click here.