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KC Fed: COVID-19 Adds Pressure to Farm Finances
USAgNet - 08/14/2020

The effects of the COVID-19 pandemic continued to pressure the agricultural economy and weighed on farm finances in the Tenth District. Farm income declined in the second quarter at the quickest pace since 2016, and weaknesses in both income and borrower liquidity were expected to carry into the coming months.

Agricultural credit conditions remained weak overall, but relatively stable. Looking to the coming months, however, bankers expected farm borrowers to have greater difficulty repaying loans.

Some of the current stability in credit conditions may be attributed to government programs that provided revenue support and additional financing options for borrowers.

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