Items Tagged with 'Chicago Fed'

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1Q20 Ag Credit Conditions Decline as Loan Demand Rises

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. 
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Chicago Fed: 1Q20 Ag Credit Conditions Decline; Farmland Values Up 1%

“With the prices of most farm products dropping as the quarter ended, it’s not much of a surprise that key measures of [Seventh] District agricultural credit conditions deteriorated during the first quarter of 2020,” said David Oppedahl, senior business economist for the Federal Reserve Bank of Chicago in the May 2020 Ag Letter.
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March Beige Book: Mixed Conditions, Worries Over Coronavirus

The March 2020 Beige Book, released by the Federal Reserve System, included conditions impacting agriculture throughout the country. In this edition, mixed conditions were reported across the districts, including falling corn and soybean prices, decreased capital spending and worries about the potential impact of the coronavirus outbreak.
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Rising Interest Rates, Repayment Issues Contribute to Dip in Farm Economy

Quarterly reports on surveys of bankers in three Midwestern Federal Reserve Bank districts indicate that rising interest rates and low commodity prices may impact farmers’ decisions on making larger, long-term investments in the near future. Farm equipment dealers should take note of this trend, as higher interest rates for farmers mean they will be less willing, or able, to take out a loan for capital expenditures.
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