E161 | We Spoke to Farm Credit's Chief Lending Officer—Here's What's Coming in 2026

"The average producer is being completely priced out of modern equipment—and the balance sheet is taking the hit." Sitting down with Phil Peabody, Chief Lending Officer at Capital Farm Credit, we peel back the curtain on what a portfolio wide look at the 2026 ag credit crisis actually looks like. Margins are tighter than they've been in decades, and lenders are noticing that over-expanded intermediate equipment debt is quietly chewing out the middle of the American farm balance sheet.