Ag credit conditions mixed for federal reserve districts in heartland.
Pandemic-relief aid along with mostly bountiful harvests and a slight recovery in prices have painted an optimistic picture for the end of 2020, according to the third-quarter (October) agricultural credit conditions survey by the Federal Reserve Bank of Minneapolis, Minn. Those results were also replicated in the Seventh Federal Reserve District of Chicago, Ill., and the 10th District in Kansas City, Mo.
Joe Mahon, direction of regional outreach in the Minneapolis-based district, said in a recent overview that the outlook for the fourth quarter is up slightly, with a mild improvement due to government relief, good production and small price increases.
Mahon said the latest survey of agricultural bankers in the region found that many were upbeat about agricultural incomes, but the overall outlook for farm finances was more modest.