GILFILLAN, Minn. - The corn crop was on most everyone's mind at Farmfest.
AgStar Financial Services CEO Paul DeBriyn said the crop where he lives across from Stillwater in Wisconsin looks like Iowa corn. The corn he's seen across southern Minnesota looks the best of anywhere in the country.
Some pockets didn't receive timely rains and are hurting.
The good news is, farmers have a strong balance sheet going into this drought, so they should be OK, DeBriyn said. Crop insurance should also
help.
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The bigger concern is for producers who have to buy feed. He hopes large integrators positioned themselves with buying and selling into the future.
DeBriyn said AgStar has a record level of producers paying down debt and also a record level of loans. He's never seen this before in his career.
Now, AgStar has a loan promotion, "Anything with a Wheel," that is generating business. Also, clients are purchasing land, though AgStar is
cautious on land financing. Farmers are also making other improvements and additions.
"It's truly an incredible time in agriculture," he said.
