Why it matters: Farmers — a critical constituency for President Trump in the 2020 presidential election — are feeling the squeeze from China's retaliatory tariffs, extreme weather and record-high farm debt that's driving farm bankruptcies.
By the numbers: In a 12-month period ending in September 2019, Chapter 12 farm or fishery bankruptcies totaled 580 filings, up 24% from a year earlier and the most since 2011, when 676 chapter 12 bankruptcies were filed.
Wisconsin experienced the highest Chapter 12 bankruptcy filings at 48 filings, followed by 37 filings in Georgia, Nebraska and Kansas.
Iowa, Kansas, Maryland, Minnesota, Nebraska, New Hampshire, South Dakota, Wisconsin and West Virginia reported Chapter 12 bankruptcy filings on par with or above 10-year highs
Yes, but: The AFBF noted that the Chapter 12 filings remain well below the historical highs in the 1980s.