According to the new Federal Reserve Bank of Kansas City report on agricultural finances, the volume of non-real estate loans increased nine percent from a year ago. The volume of farm operating loans remained relatively steady, but there was more financing for livestock and machinery. The Fed report says smaller banks have increased loan participation and Farm Service Agency loan guarantees. Delinquency rates on all types of farm loans at commercial banks increased slightly from one year ago, but remain low from a historical perspective. Farmland values remain relatively stable.
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