OMAHA, Neb.—The Federal Reserve Bank of Kansas City says the farm economy remained solid and farmland values held steady during the second quarter in some Midwest and Western states.
The Fed’s survey of banks in its 10th District says the outlook for farm income improved during the quarter as crop prices increased in the spring.
The income picture looks better in corn and soybean growing states. In areas dependent on livestock operations or the wheat crop, farmers expect lower incomes.
The 10th Federal Reserve District in Kansas City covers Kansas, Nebraska, Oklahoma, Wyoming, Colorado, northern New Mexico and western Missouri. Across that area, the value of nonirrigated cropland remained flat while the value of irrigated cropland and ranchland increased slightly.
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