Ag banker suggests using money markets to stretch cash reserves

An agricultural banker says many farmers were able to pay down debt with last year’s stronger earnings, but farmers should consider an additional strategy now.

Sam Miller with BMO Harris Bank tells Brownfield the overall financial condition of farmers this year is great, but the higher expected costs of production and shrinking margins mean farmers need to make their cash go farther, and putting cash into short-term money market accounts gives a good rate of return right now.

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