The survey is being conducted by the Agricultural Producers Association of Saskatchewan and paints a bleak picture of farm finances.
Some farmers are facing penalties as high as $300,000 and interest rates as high as 19 per cent. Many face penalties of $20,000 to $30,000.
When they realized they were going to be short of grain, 25 per cent said they had difficulty reaching their contract buyers.
The survey revealed big differences among grain-buying companies and many farmers said they won’t be contracting again.
