The Farm Credit Administration board received a quarterly report (.pdf) on economic issues affecting agriculture recently. According to the report, inflation remains elevated in certain sectors of the economy despite interest rate hikes and supply chain improvements. For agriculture, drought has declined substantially across the western half of the country, and good spring weather conditions sped up planting progress for …
Farm Credit Reports on Ag Economy and Condition of Its System
The Farm Credit Administration recently received a quarterly update on economic issues affecting agriculture as well as an update on the performance of the Farm Credit System through 2022. Inflation continues to be a core economic issue despite recent declines. Inflation has been driven, in part, by a tight labor market and rising production costs and consumer demand. The report …
Apply for Farm Bureau Ag Innovation Challenge
The American Farm Bureau Federation, in partnership with Farm Credit, is seeking entrepreneurs to apply online for the 2023 Farm Bureau Ag Innovation Challenge. Now in its ninth year, the national business competition showcases U.S. startup companies developing innovative solutions to challenges faced by America’s farmers, ranchers and rural communities. Farm Bureau is offering $165,000 in startup funds throughout the …
Farm Credit Administration: Expect Low Crop Prices in 2020
(NAFB) — A quarterly report to the Farm Credit Administration last week suggests commodity prices will mostly remain low next year. The report cites large global supplies of crops in storage, saying that will limit attractive price opportunities for U.S. farmers. For the next three years, soybean prices are projected at roughly $8.50 a bushel, with corn at $3.70 a …
Farm Credit Outlook Shows Prices for Grains to Strengthen
An outlook presented to the Farm Credit Administration shows corn and soybean prices are projected to strengthen, boosting profit margins for crop farmers. The report shows profit margins are expected to decline for livestock producers though, as rising grain prices drive up feed costs, and Southwest pasture conditions deteriorate because of severe drought. The quarterly report also notes that uncertainties …
Farm Credit Administration Releases Quarterly Report
A report on the performance of the Farm Credit System shows 2018 is another challenging year for agriculture. The report, presented to the Farm Credit Administration board, outlines the economic issues affecting agriculture. Based on its first forecast of the 2018 farm economy, The Department of Agriculture projects net farm income to decline by 6.7 percent, with both crop and …
FCA Reports on Agricultural Economic Conditions
The Farm Credit Administration (FCA) released a quarterly report on economic issues affecting agriculture and updated the financial condition of the Farm Credit System. The report says the USDA is predicting farm income will stabilize near its historical average. The USDA is predicting an increase in farm income, rising from $93.3 billion in 2016 to 96.9 billion in 2017. Factors …
Current Farm Downturn Not Likely to Reach 1980’s Crisis
A report by a Farm Credit Administration economist told the Administration’s board members last week that the current downturn in the farm economy is not likely to reach a 1980s-style crisis. Farm Credit chief economist Stephen Gabriel said the “likelihood of this is very low,” adding that a confluence of adverse factors led to the crisis that occurred in the …
Pace of Young, Beginning and Small Farmer Loans Slowing
In 2016, the pace of new lending to Young, Beginning and Small Farmers, or YBS loans, remained relatively flat, according to a new report by the Farm Credit Administration. Regarding dollar volume, the pace of these loans slightly exceeded the pace of overall farm lending by Farm Credit System institutions. In terms of loan numbers, the pace of YBS lending …
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… Sponsored ContentStrong …