Wisconsin Farm Loan Delinquencies Jump To Levels Not Seen Since 2001

The Federal Deposit Insurance Corporation (FDIC) warned Thursday that farmers across the Central and Midwest US were quickly falling behind on agriculture loans held by community banks, according to Reuters.

In a quarterly report of loan delinquency data of US banks, published by the FDIC, there was no direct reference to President Trump's trade war with China. But the report noted that credit deterioration in agriculture loans, specifically in Wisconsin, were alarming.

"We continue to monitor risks in the agriculture sector connected to low commodity prices and farm incomes," the FDIC said in a statement.

The report showed the percentage of overdue farm loans rose to 2.9% at community banks across the state as of June 30, the highest rate since 2001.

More