Fix Interest Rates Now

Fix Interest Rates Now

Prime rates will likely rise in the near future, say Wells Fargo economist.

If low interest rates are important to the success of your operation, lock them in now.

That's advice from Michael Swanson, a Wells Fargo ag economist who spoke at the Central Plains Dairy Expo in Sioux Falls.

He says interest rates will likely rise – perhaps in late 2011 or early 2012 as the economy improves.

Another practical tip from Swanson: Aim to be a "scratch marketer."

A scratch marketer is like a scratch golfer – with good fundamentals and lots of practice he or she put together a winning game. Any body can get lucky and hit a hole in one once in their life, he says, but a scratch golfer wins consistently.

Swanson presented a bullish outlook for the farm economy.

Despite growing production in Brazil and other countries, the U.S. remains the world leading food producer.

"They have to come to us," he says.

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