money growing in soil farm lending Nomadsould1/iStock/Thinkstock

Farm lending activity slows

Kansas City Fed report finds lenders and borrowers more apprehensive about adding new debt in 2017.

The volume of new farm loans dropped sharply in the fourth quarter of 2016, according to the latest "Ag Finance Databook" by the Federal Reserve Bank of Kansas City, Mo.

The data are derived from respondents to the "Survey of Terms of Bank Lending to Farmers," which asks bankers about new loans to farmers. The survey found that volume of non-real estate loans in the farm sector dropped 40% from a year ago, the largest year-over-year decline in nearly 20 years.

“However,

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