Monika Ghimire

2 months ago | aaea.org | Monika Ghimire |Noah Miller

Figure 1. Change in Banks’ AgriculturalLoan Volume (natural log) Every 10Years, 2003, 2013, and 2022Data source: FFIEC (2023). Commercial banks are the leading lenders of non–real estate debt to farmers, with $72 billion debt (41%) of $174 billion total non–real estate debt, and the second leading lenders of real estate debt, with $109 billion debt (32%) of $345 billion total real estate debt in 2023 (USDA-ERS, 2024).

Jun 26, 2023 | ers.usda.gov | Monika Ghimire

In 2021, more than 34 percent of the 1.96 million U.S. family farms received Government payments through four types of programs: countercyclical, marketing loan, conservation, and other programs. These Government payments totaled $14.3 billion based on data from USDA’s Agricultural Resource Management Survey (ARMS).

May 1, 2023 | ers.usda.gov | Carrie Litkowski |Monika Ghimire

Farm sector debt tied to real estate is expected to be at a record high of $375.9 billion in 2023, according to data from the USDA, Economic Research Service (ERS). Farm sector real estate debt has been increasing continuously since 2009 and is expected to reach an amount that is 87.5 percent higher in 2023 compared with 2009 in inflation-adjusted dollars. Real estate debt now far outpaces debt that is not secured by a mortgage (non-real estate debt).