An expensive time to borrow

Rising interest rates and the increased cost of capital means farmers may have to take a different approach to 2024 production expenses.

Aimpoint Research Chief Economist Gregg Doud says it’s unclear what next year will bring for a capital-intensive industry like agriculture.

“Are we going to have economic growth, which means we’re going to have improved commodity prices and we can offset the higher costs of interests and operating capital, or not?”

He says it’s a difficult question to answer, but the Federal Reserve is trying to figure it out.

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