Overall Farm Profitability Tightened in 2023

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According to the Fall 2023 Agricultural Lender survey results from the American Bankers Assn. and the Federal Agricultural Mortgage Corporation, around 30% of lenders saw farm profitability in their area increase in 2023, down from around 70% who said the same last year. Forecasting over the next 12 months, roughly 5% of lenders expect farmer profitability in their area to increase.

Source: ABA-Farmer Mac Agricultural Lenders Survey, August 2023

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