A survey of agricultural bankers by the Kansas City Federal Reserve shows farmland values surged during the third quarter. The value of non-irrigated cropland increased by 12 percent or more in all participating districts. The increase was also consistent across most states, with annual increases of more than 20 percent. The KC Fed Bank says agricultural lenders expect farm income and credit to remain strong through the end of the year alongside elevated commodity prices. The surge in farmland values has also bolstered farm balance sheets and provided additional support to the ag sector. Read more.
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