Farm loan delinquencies rose to a record high in June at Wisconsin's commun...
WASHINGTON/CHICAGO - Farm loan delinquencies rose to a record high in June at Wisconsin’s community banks, data showed on Thursday, a sign President Donald Trump’s trade conflicts with China and other countries are hitting farmers hard in a state that could be crucial for his chances of re-election in 2020.
While the number of seriously delinquent farm loans is rising nationwide, the noncurrent rate has more than doubled at Wisconsin’s community banks since Trump took office in January 2017. It now stands higher than in any other of the top 10 U.S. farm states as measured in production - a list that includes California, Iowa and Texas.
Wisconsin played a pivotal role in Trump’s 2016 election victory and is widely expected to be a battleground again in the November 2020 contest. That bailout package focused on helping producers of soybeans, a crop that is grown on more acres in Illinois and Iowa than in Wisconsin. The government started taking applications for a second round of farm-related trade aid in July.
Dave Daniels, a corn and dairy farmer in Kenosha County, Wisconsin, voted for Trump in 2016 and still supports the president. Trump, a Republican, won Wisconsin in 2016 by just over 20,000 votes - less than 1% of ballots cast. The state backed Trump’s predecessor, Democrat Barack Obama, in the 2008 and 2012 elections.
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