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Minnesota farmer says rising interest rates hurt bottom line

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Minnesota farmer says rising interest rates hurt bottom line

Southeast Minnesota farmer Rob Tate says rising interest rates will hurt his bottom line.

“It will have some influence because there are some short-term borrowing needs for any operation at times. That’s another input that’s going to cost you a little more.”

Cannon Falls corn and soybean producer tells Brownfield it’s talking with fertilizer and seed suppliers about 2023 pricing.

“Obviously things are going to cost more (but) crop prices are still going up, so you’re still trying to manage the margin in the end.”

Tate, a Minnesota Corn Growers Association board member, says he is taking steps to manage production costs both in terms of inputs and to make some future crop sales.



https://brownfieldagnews.com/news/minnesota-farmer-says-rising-interest-rates-impact-bottom-line/ Minnesota farmer says rising interest rates hurt bottom line

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