Farmer Mac says rising Treasury yields spur proactive summer loan restructuring talks for ag lenders

Farmer Mac flagged yield-curve volatility as a catalyst for agricultural lenders to intensify summer borrower outreach on refinancing or restructuring.

• Treasury yields rose sharply across maturities in 2026; the 1-year climbed to 4.11% by July 23 from about 3.5% on March 2.
• Long-end rates also moved higher; the 10-year reached 4.67% from near 4.2%, and the 30-year rose to 5.15% from just under 4.8%.
• Forward Treasury yields implied the rate cycle may not have peaked; markets priced roughly 15 basis points or more increases over coming years.
• Analysis pointed to higher borrowing costs risk for producers, urging lenders to address loans repricing this fall before rates move higher.