Bankruptcy filings signal ongoing farm financial stress | Iowa Agribusiness Radio Network

Bankruptcy filings signal ongoing farm financial stress | Iowa Agribusiness Radio Network

Farm bankruptcies across the country remain at levels not seen since the disruptions of the COVID era, and legal experts say that should concern producers and lenders alike. While the pace of filings this year is similar to last year, that does not mean the farm economy is in the clear. Austin Peiffer, an attorney with Ag and Business Legal Strategies in Hiawatha, says the numbers remain elevated compared to historical norms. https://d30hko96l9xirl.cloudfront.net/Iowamediafolder/2026/06/Bankruptcies-1.mp3 The American Farm Bureau Federation reports there were at least 158 Chapter 12 farm bankruptcy filings nationwide during the first quarter of 2026. Peiffer says many farmers who entered the year with financing in place may still face challenges as higher costs continue to squeeze operating margins. https://d30hko96l9xirl.cloudfront.net/Iowamediafolder/2026/06/Bankruptcies-2.mp3 Financial pressure can sometimes push producers into making decisions that create even bigger problems. Peiffer says farmers need to be careful not to take actions that could jeopardize relationships with lenders or create legal issues. https://d30hko96l9xirl.cloudfront.net/Iowamediafolder/2026/06/Bankruptcies-3.mp3 Peiffer says producers who find themselves struggling financially should seek advice from attorneys and financial professionals familiar with agriculture before their options become limited.