Ag bankers say farm income is down from 2023 in Central Plains
Farm income "retracted at a sharp pace" in the Central Plains ahead of the spring planting season, said the Kansas City Federal Reserve Bank, based on a quarterly survey of ag bankers. Sixty percent of the lenders — the highest percentage since early 2020 — said income was lower than a year earlier.
After run-up, farmland prices may become more stable
Higher interest rates and weaker commodity prices may slow the momentum for ever-higher farmland values, said the Chicago and Kansas City Federal Reserve banks in quarterly reports on Thursday. "After this unusual period of large farmland gains, it wouldn't be too surprising if we were back to that general stable [land value] scenario for a while," said David Oppedahl, policy adviser at the Chicago Fed.