NEWS
No Farm Too Big to Fail
Marcia Zarley Taylor DTN Executive Editor
Fri Mar 22, 2013 06:44 AM CDT

WASHINGTON, D.C. (DTN) -- No question Goliath banks on Wall Street are too big to fail. The same can't be said of the Goliath grain farms fed by the adrenaline of $6 corn since 2006. In fact, the recent bankruptcy of 46,000-acre Michigan farmer Michael Stamp is focusing lender scrutiny on how vulnerable such operations will be in the next commodity downturn.

Stamp Farms LLC and its related businesses in Decatur, Mich., owed approximately $94 million, including $63 million to Wells Fargo, at the time of its filing last November, according to court records. At the same time, Stamp's assets ...

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