In its August 2020 Ag Letter, the Chicago Federal Reserve Bank of Chicago reported that repayment rates for non-real estate loans in the second quarter were down vs. the same period of 2019. At the same time, economists for the Seventh Federal Reserve Bank indicated that farmland values in the District remained stable, increasing by 1% during the most recent reporting period.
“Given the widespread adverse effects of the pandemic in the second quarter…
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