Farm lending remained muted in the third quarter of 2020 but increased from last year according to the National Survey of Terms of Lending to Farmers. Despite growing 15% from the previous year, total non-real estate loan volumes in the third quarter were below the 20 year trend for that period.
Agricultural credit conditions in the Kansas City Fed’s Tenth District deteriorated at a slightly faster pace at the onset of developments related to COVID-19. The survey for the first quarter of 2020, distributed in mid-March, indicated a larger decline in farm income and loan repayment rates than in recent quarters.
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In this episode of On The Record, we examine Deere’s Population of 20-Store Dealers On the Rise. In the Technology Corner, we take a look at Carbon Robotics Developing New “Thinning” Function for LaserWeeder. Also in this episode: AGCO & Kubota Sign Right to Repair MOUs, Deere Reports Rising Large Ag Price Realization - Lower Production Costs and Dealers’ Most Pressing Concerns.