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  • Convergence of Financial Performance
    A recent article examined differences in liquidity and repayment capacity for different sized crop farms (Langemeier, 2026).  This article examines trends in the operating profit margins, asset turnover ratios, and…
  • Smaller Loans Drive Decline in Non-Real Estate Farm Lending at Commercial Banks in Q3 2026
    Non-real estate farm loan volume at commercial banks fell 25.0% year-over-year in the third quarter of 2026. A sharp contraction in average loan sizes drove the decline, even as the total number of loan originations increased. Average maturities shortened across categories, most notably for farm machinery and equipment financing, while interest rates on these loans […]
  • The 45Z Biofuel Tax Credit, Part 4: Inside the Updated USDA Feedstock Carbon Intensity Calculator
    USDA recently released an updated version of its Feedstock Intensity Calculator (FD-CIC) for the 45Z Clean Fuel Production Tax Credit (USDA, FD-CIC v.1.2; User Manual, September 4, 2026). The updated calculator changes the Carbon Intensity (CI) scoring in significant ways. It also includes more information for the user about the scoring process. This article reviews […]