U.S. farm incomes in the Midwest and Mid-Southern states declined yet again in t...
CHICAGO - U.S. farm incomes in the Midwest and Mid-Southern states declined yet again in the second quarter of 2019, as record floods devastated a wide swath of the Farm Belt, according to banker surveys released on Thursday by the Federal Reserve Banks of St. Louis and Kansas City.
But in parts of the Midwest, federal trade-related aid to farmers and corn prices rising this spring due to the wet planting conditions slowed the pace of that income drop, according to bankers surveyed by the Kansas City Fed. The St. Louis Fed said the second quarter marked the 22nd consecutive quarter for farm incomes dropping in the Eighth Federal Reserve District, which includes all or parts of seven Midwest and Mid-South states: Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.
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