An official with America’s largest non-bank agricultural lender suggests the input not being talked about enough is interest rates.
Curt Covington is with AgAmerica.
“People forget that interest, in what farmers are paying to their lenders, is a real input cost. So when it goes up 150 basis points in a matter of three months, that’s money taken directly from the bottom line of that grower.”
He tells Brownfield ag lenders are very concerned about the direction of interest rates.