In Michigan, Boersen Farms is facing bankruptcy after it defaulted on more than $145 million that it owes CHS Capital. It has asked for receivership. The farm planted 83,000 acres planted this past spring. They bought at $6-$7 corn and now trading under $4. You have to be big to survive in agriculture, lawyer says.
Found it interesting to observe farmers at this year’s Farm Progress Show. Found farmers more optimistic than thought they’d be. Crop yields will be down, but not all that bad, they found.
FC Stone jacked up corn yield by 4 and soybean yield by 2 since August crop report. FC Stone says Minnesota has best corn in nation at 191 bushels per acre.
Outta look for deals on patio furniture, grills and summer clothing if you go shopping this weekend.