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Farm bankruptcies rise

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Data from U.S. courts show that Chapter 12 farm bankruptcies hit the highest level since 2011 in the 12 months ending in September, and Iowa was among the states with the most, the American Farm Bureau Federation reported.

The 580 bankruptcies nationally amounted to a 24% increase from the prior year and the highest level since 676 in 2011. 

Iowa’s 24 bankruptcies topped some neighboring states but were far lower than Wisconsin’s 48, which was the highest total. There were 37 filings each in Georgia, Nebraska and Kansas. Iowa, Kansas, Maryland, Minnesota, Nebraska, New Hampshire, South Dakota, Wisconsin and West Virginia all had totals that were at or above 10-year highs. 

Iowa’s total was up 10 from the previous year, the fourth-largest increase in the country.