Long-term interest rates are moving higher. But, ask Curt Covington, Executive Vice President and Chief Credit Officer at Farmer Mac, and he’ll tell you the farming community saw the writing on the wall about interest rates well beforehand.

Covington added most producers are uncertain of the Fed’s plans into the future, forcing many to act now. 

Covington noted despite a good financial decision by many in the industry, the five-year downturn in the farm economy is forcing many to ask very challenging questions about how to preserve as much equity as possible.