Source: PROGRESSIVE FARMER, 5/4/22

Farmers turned to their bankers this spring for help with surging input costs. Data from the Federal Reserve Bank of Kansas City's survey of lenders shows that the volume of non-real estate agricultural loans increased sharply from last year, and a record number of operating loans surpassed $1 million. It's the fastest acceleration of farm lending in four years, economists Nathan Kauffman and Ty Kreitman wrote in a recent report. Lending levels are still modest compared to historical standards and remain below the average of recent years on an inflation-adjusted basis.

For more of this story, click here.