Farm banks increased their agricultural lending by 5.3 percent in 2016 and held $103.4 billion in ag loans at year’s end, according to the American Bankers Association’s annual Farm Bank Performance Report. Despite overall declines in farm income, farm banks continued to maintain healthy asset quality and capital levels. More than 97 percent of farm banks were profitable in 2016, …
Agri View: Outlook for 2017
Everett Griner talks about the outlook for 2017 and what needs to happen for producers in today’s Agri View. Well 2013 was the last good year for agriculture as a whole. Farm commodity prices were mostly good back then. But here is something to keep in mind now. When crop prices go up, so does the cost of …
Ag Lender Survey: Farm Profitability Down, Commodity Prices Top Concern
ABA and Farmer Mac release first biannual survey of agricultural lenders Nearly 90 percent of agricultural lenders have seen an overall decline in farm profitability in the last 12 months, according to a joint survey by the American Bankers Association and the Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A). The survey of more than 350 agricultural lenders …
Ag Producer Sentiment Inches Higher in April
By Jim Mintert, David Widmar and Michael Langemeier Purdue University/CME Group Producer sentiment inched higher during April as the Ag Economy Barometer increased to 130. The latest result for the Purdue/CME Group Ag Economy Barometer, which is based on a monthly survey of 400 U.S. agricultural producers, was slightly higher than March’s 124 reading, but still well below January’s peak …
Ag and Rural Prosperity in America Executive Order
An Executive Order by President Trump has established the Interagency Task Force on Agriculture and Rural Prosperity. New Agriculture Secretary Sonny Perdue will serve as the task force’s chairman. And in his first day on the job, Rod Bain reports Perdue took part in a Presidential farmer’s roundtable. Fourteen farmers from across the country met with President Trump and Agriculture …
Rural Economy Index Lower Again
The Creighton University Rural Mainstreet Index remained weak with a reading below growth neutral for the 20th straight month, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and energy. Released last week, the index which ranges between 0 and 100, slipped to 44.6 from 45.3 in March. The last time …
Ag Confidence Grows as Latest DTN/PF Survey Suggests Strong Future
Farmers, ranchers remain concerned on current conditions; optimistic about future Despite continued flat commodity prices, attitudes of U.S. farmers took a solid leap into positive territory, according to the most recent DTN/The Progressive Farmer (DTN/PF) Agricultural Confidence Index (ACI). The survey, which tracks farmer opinions of their current and future conditions, had an overall score of 130, a significant improvement …
USDA: Agriculture a $992 Billion Economic Factor
Data by the Department of Agriculture shows agriculture and agriculture-related industries contributed $992 billion to the U.S. gross domestic product in 2015, a 5.5-percent share, the most recent USDA statistics.The output of America’s farms contributed $136.7 billion of this sum, about one percent of GDP. USDA says the overall contribution of the agriculture sector to GDP is larger than that …
Farm Credit Officials Encouraging Help for Struggling Borrowers
Farm Credit Administration and Farm Credit bank officials told House Agriculture Committee lawmakers the system is sound, making credit available on flexible terms, and only technical tweaks and a strong safety net are needed in the next farm bill. But FCA Chairman and CEO Dallas Tonsager says the bigger issue seems to be the deteriorating creditworthiness of producers…
Federal Reserve Makes Expected Interest Rate Increase
The U.S. Federal Reserve has again elected to move forward with interest rate increases following a meeting Wednesday. Widely expected, the decision raises the Fed’s benchmark rate to a range between 0.75 percent and one percent.