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KANSAS CITY FED SURVEY: FARMLAND MARKETS PROVIDE SUPPORT AMID A WEAK AG ECONOMY
Source: Federal Reserve Bank of Kansas City

Farm real estate markets in the Tenth Federal Reserve District remained relatively stable in the fourth quarter of 2017, according to the Kansas City Fed's quarterly Survey of Agricultural Credit Conditions.

On average, values for all types of farmland declined only 3 percent from a year ago. Prior to the fourth quarter, farmland values had declined at an annual pace of 5-7 percent, but those declines appear to have slowed more recently.

The stability in farmland values was due, in part, to fewer sales. For the fifth straight year, a majority of bankers reported a decline in the volume of farmland sold. Looking ahead, a significant number of bankers expect values to remain steady in 2018.

Farm income in the fourth quarter continued to decline, and credit conditions remained weak, but the pace of deterioration has continued to slow. The relative strength of farmland values has provided support for farm finances despite the ongoing pressure of low agricultural commodity prices on farm income.

Read the complete Survey of Agricultural Credit Conditions at:
https://www.kansascityfed.org/research/indicatorsdata/agcreditsurvey/articles/2018/2-14-18/farmland-markets-provide-support-amid-weak-ag-economy.


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