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KC FED: FARM ECONOMY REBOUNDS SHARPLY
Feb. 12, 2021
Source: Kansas City Federal Reserve Bank
Prospects for farm income and agricultural credit conditions rebounded sharply in the fourth quarter of 2020.
The average price of corn, soybeans and wheat increased more than 20% from the previous quarter, and reached six year highs in December. Livestock prices, while still less than a year ago, also improved from lows reached earlier in the year. Government payments provided broad support through the year and, together with recent price increases, the near-term outlook for the farm sector improved dramatically.
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