CCGA advance a red flag

[Ronski]

I just got an email that 2018 repayment is deferred till March.
I'm guessing there are some big guys in trouble and they are kicking the can down the road till after the election to keep them quiet.

[farmaholic]

Sign of the times.

Anyone have good contracts with Input Capital?

[SASKFARMER]

They are do far behind with getting money out so have yo do something.

It’s a loan **** canada

[jazz]

So I assume these guys have max advances? $400k or more. Gonna need a big score to take that down. I dont see $12 canola in 6 months. I sense some auction sales coming.

[Ronski]

"Farmers can use the proceeds of a 2019 advance to repay a 2018 advance, as long as they have the security required to cover both advances"
Gonna roll the problem into 2020.

[grassfarmer]

They did the same thing with the cash advance program after BSE to ranchers. I don't think there were ever any big advances that weren't paid back - at least I never heard about them if there were.

[macdon02]

I wonder if the market will drop under the advance rate in the 18 months ahead? Im guessing it will.

[Grahamp]

They did the same thing due to the terrible movement after the 13 crop. I don’t think there was huge default rate because of that.

[furrowtickler]

"Farmers can use the proceeds of a 2019 advance to repay a 2018 advance, as long as they have the security required to cover both advances"
Gonna roll the problem into 2020.

Oh boy , that not a good sign
I wonder how many are going to fold tents and run 🏃???

[SASKFARMER]

The security they have has priority if your a corp the bank and them have everything and if you run you are personally Responsible they have you this down turn not like the last. Corps were set up not for tax purposes but for times like this.

[the big wheel]

Liberals are duds but where is rhe conservatives on this issue? Sask party? Ndp?

[iceman]

"Farmers can use the proceeds of a 2019 advance to repay a 2018 advance, as long as they have the security required to cover both advances"
Gonna roll the problem into 2020.

A rolling loan gathers no loss........ ................. until it stops rolling!

So what exactly are we talking here? Is the advance on the crop in the field? Or is it mainly on 2018 inventory?

If it’s on inventory I think people need to sit down and re-evaluate their grain selling

Iceman