Farm Bankruptcies in Illinois, Other Midwest States Jump

Farm Bankruptcies in Illinois, Other Midwest States Jump

ILLINOIS (RFD) — An analysis of Chapter 12 bankruptcies, which includes farm bankruptcies, shows a continued increase in Illinois and several other Midwestern states. Of the nearly 450 Chapter 12 bankruptcy filings in fiscal year 20-18, more than half took place in U-S court districts where farmers grow corn, soybeans, produce dairy products and raise livestock; The U-S Department of Agriculture expects farm debt-to-asset-ratios to climb again this year. If that holds, they will be the highest since 2009 and the sixth consecutive year of climbing farm debt.

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