Good news coming from the Wisconsin Bankers Association! The organization says they’re seeing fewer farm bankruptcies this year compared to years before. This may be due to a few different factors such as an increase in farm income, commodity prices, and government assistance. All of those benefits working together ended up saving some farmers from having to file bankruptcy.
This is a drastic change from 2020, where Wisconsin had the most farm bankruptcies out of the entire country. The state racked up 48, while Georgia, Nebraska, and Kansas came in next with 37 bankruptcies, and Minnesota finishing off the top five for last year.
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