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Farm bank lending increased in 2023
Agricultural loan demand increased in 2023, and agricultural lending by U.S. farm banks grew 6.7 percent to $110 billion. The American Bankers Association’s annual Farm Bank Performance Report credits elevated production costs, commodity price volatility, and a return to pre-COVID levels of direct government payments. The ABA says farm banks continued to enjoy solid performance in 2023, with robust loan growth and historically low delinquency rates. “Moving forward, the agricultural sector...