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Lender says farm finances about the same as ‘24

An agricultural lender says the financial picture for most farms is a lot like last year. 

Roger Sinkula with Nicolet National Bank tells Brownfield they had about the same number of farmers come in for operating loans this year.  Sinkula says there is one difference. “I’m seeing a better job of people that did some prepays and booked some fertilizer early. There was some decent pricing for fertilzer and there was enough clients that took advantage of December and January prices of fertilizer.”

Sinkula says many farmers did some forward contracting when a short window of opportunity opened over the winter. “There was some opportunity early on. That opportunity is gone right now and I think everybody is going to kind of wait and see now until after the planting season.”

Sinkula says the farmers he works with are hoping the wet spring doesn’t lead to a repeat of 2024, where crops went from wet to very dry, causing lower yields and several prevent plant insurance claims.

Sinkula spoke to Brownfield during the WPS Farm Show in Oshkosh, Wisconsin.