Source: POLITICO'S MORNING AGRICULTURE, 10/17/19

The central bank released its latest "Beige Book" report on the economic strength of specific sectors and regions, and the survey says... agriculture is still in a tough spot. The Fed reports that farm conditions across the country "deteriorated further due to the ongoing impacts of adverse weather, weak commodity prices and trade disruptions."

The troubles are especially pronounced in key farming regions, like the Midwestern corn belt. In the Seventh District, which includes Iowa and parts of Illinois, Indiana, Michigan and Wisconsin, industry sources surveyed by the Federal Reserve "had mounting concerns about how much of this year's crop would be able to fully mature before a hard frost hits."

In states further down the Mississippi River, like Missouri and Arkansas, "agriculture conditions have declined modestly compared with the previous report" (on Sept. 4), according to the St. Louis Fed, citing a sharp drop in corn, rice and soybean production. "The outlook among contacts remained relatively pessimistic due to depressed commodity prices and trade uncertainty."

In the Upper Midwest, "heavy rains that hampered crop planting this season have persisted into the fall and may complicate harvests in some areas, according to sources," the central bank said. "Recent forecasts indicated that corn and soybean production in [Ninth] District states may decrease 10 percent and 20 percent, respectively, in 2019 compared with last year."


Over the past five years, a confluence of interrelated trends has amplified digital media's importance as a tool for influencing policy outcomes.