I see SPX being active in Agriculture a little differently.
Financing a few containers of cherries for JT's, who grow nothing, avoids the flood, and drought risks
When they are lending to producers, I imagine clients like Rocky Lamattina and Sons who grow, process and market 1000 tones of carrots every week to clients like Woolworths. Lamattina's employ around 200 people in their processing plant. I would think they would be a very stable producers and a fairly low risk in the agriculture sector.
Farmer Joe who has a small family farm might be a different story and have a much greater risk profile as you say with potential risk due to weather events.
It's just the beginning for Spenda!, page-1535
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