According to the Federal Reserve Bank of Kansas City Ag Credit Survey, farmland values continued to increase in 2022. The value of non-irrigated farmland rose nine percent from the previous year. Rental rates for all types of farmland increased 12 percent. The farm financial position has been helped by several years of strong income. Loan repayment rates are improving at a gradual pace. However, the number of farm borrowers seeing an extension or renewal is up slightly from one year ago.
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