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STL Fed ag bankers report mentions “rumors of bankruptcy”
The St. Louis Federal Reserve survey of ag bankers shows the 20th consecutive decline in farm income per quarter.
But, despite lower farm income in the fourth quarter of 2018, the survey shows prices of quality farmland rose.
A Missouri ag lender who was surveyed says they’ve heard rumors of large farmers filing for bankruptcy and farmers in the state with crops still in the field.
Twenty-two ag banks within the 8th Federal Reserve district, which includes Illinois, Indiana, Missouri and several mid-south states, were surveyed.
Most ag bankers in the 8th district say local economic conditions are “fair” and most expect the local economic outlook to stay the same while a third expect it to worsen this year.
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