Agricultural credit conditions in the Kansas City Fed’s Tenth District and the Chicago Fed’s Seventh District slipped in the first quarter of 2020, impacted by the effects of the COVID-19 pandemic. As commodity prices drop, so has farm income, loan repayment rates and loan interest rates. At the same, farmland values have increased slightly or remained flat during the pandemic.
Values for “good” farmland in the Chicago Fed’s Seventh District’s increased 1%…
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