Full text of E.15 Agricultural Finance Databook : July 1979 : Quarterly Series

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AGRICULTURAL FINANCE
DATABOOK
July 1979

Quarterly Series

Emanuel Melichar
Amy Brooks

Division of Research and Statistics
Board of Governors of the Federal Reserve System
Washington, D.C. 20551




Not for general distribution. Inquiries should be addressed to the authors.

a g r i c u l t u r a l finance d a t a b o o k — quarterly series

JULY 1979

PAGE

SECTION
300

DISTRICT CREDIT CONDITIONS SURVEYS

320

CHICAGO..............................

3

330

MINNEAPOLIS.......................................................... 15

340

KANSAS CITY....... ................. ...........

350

DALLAS............................................................... 33

360

RICHMOND............................................................. 39

.28

FIVE FEDERAL RESERVE BANKS CONDUCT QUARTERLY SURVEYS OF CREDIT
CONDITIONS AT COMMERCIAL BANKS THAT ARE INVOLVED IN FARM LENDING. EACH
OF THE SURVEYS IS MADE AS OF THE FIRST DAY OF JANUARY, APRILt JULYf AND
OCTOBER. THESE DATES CORRESPOND TO LINES Q1 THROUGH Q4, RESPECTIVELY, IN
THE TABLES.
THE FIVE SURVEYS DIFFER SOMEWHAT IN CONTENT. IN THIS SECTION, SERIES
COVERING SIMILAR SUBJECT MATTER ARE GROUPED IN TABLES WITH THE SAME UNITS
DIGIT OF THE TABLE NUMBER, AS FOLLOWS: fi) NON-REAL-ESTATE LENDING EXPERIENCE;
(2) NON-REAL-ESTATE LENDING EXPECTATIONS; (3) MEASURES OF LOAN AVAILABILITY;
(4) INTEREST RATES; C5I REAL ESTATE VALUES, LENDING EXPERIENCE, AND LENDING
EXPECTATIONS; AND (6) FARMERS* EARNINGS AND SPENOING.
THE NATURE OF THE BANKS SURVEYED AND THE SIZE OF THE SAKPLE ALSO DIFFER
AMONG DISTRICTS. THESE FACTORS AFFECT THE INTERPRETATION OF THE DATA FOR EACH
DISTRICT AS WELL AS THE COMPARABILITY OF SIMILAR SERIES AMONG DISTRICTS.
BASIC INFORMATION OF THIS TYPE IS GIVEN ON THE TABLE-OF-CONTENTS PAGE FOR EACH
DISTRICT.
EACH OF THE FEDERAL RESERVE BANKS ISSUES A QUARTERLY REPORT ON ITS
SURVEY RESULTS, AVAILABLE FROM THE RESERVE BANK ON REQUEST. THESE
PUBLICATIONS ARE LISTED ON THE TABLE-OF-CONTENTS PAGE FOR EACH pISTRICT.
FOR A BRIEF DISCUSSION OF THE USES AND OF SOME CONSIDERATIONS INVOLVED
IN INTERPRETING THESE SURVEY DATA, SEE THE SECTION "SURVEYS OF CREDIT
CONDITIONS" IN "OVERALL MEASURES OF FINANCIAL PERFORMANCE," AGRICULTURAL
FINANCE REVIEW. FEBRUARY 1977, PP. 88-93.



2

JULY 1979

A G R I C U L T U R A L FINANCE D A T A B O O K — QUA R T E R L Y SERIES

320

CHICAGO

3 2 1 .1

FARM N O N - R E A L - E S T A T E L E N D IN G E X P E R IE N C E D U RIN G THE P R E C E D IN G
Q U A R T E R ............................................................................................................................................. A

3 2 2 .1

FARM N O N - R E A L - E S T A T E LOAN VOLUME E X P E C T E D D U RIN G THE CURRENT
Q U A R T E R .............................................................................................................................................. 6

3 2 3 .1

L O A N / D E P O S IT

3 2 4 .1

T Y P IC A L

325. 1

T REN D S

R A T IO S ................................................................................................................. 8

IN T E R E S T

IN

FARM

R A T E S CHARGED

R EA L E S T A T E

VALUES

ON FARM L O A N S ..................................................... 10

ANDLOAN V O LU M E............................................ 12

THE F E D E R A L R E S E R V E BANK OF CH IC A G O HAS CONDUCTED A Q U A R T ER LY LAND
V A L U E AND C R E D IT C O N D IT IO N S S U R V E Y FOR OVER 25 Y E A R S .
OVER T H IS T IM E THE
S U R V E Y HAS UNDERGONE S E V E R A L C H A N G ESt AND THUS H IS T O R IC A L DATA FOR THE
C U RREN T S E R I E S ARE A V A IL A B L E FOR V A R Y IN G LEN G T H S OF T IM E .
B E F O R E 1 9 7 3 , THE SU R V EY CO VERED ONLY BAN KS THAT WERE MEM BERS OF THE
FED ERA L R ESER V E SY STEM .
FROM 1969 TO 1 9 7 2 , FOR E X A M P L E , THE BANKS SU R V E Y E D
W ERE MEMBER BAN KS AT W HICH FARM LOANS C O M P R IS E D 10 P E R CENT OR MORE OF TOTAL
LOANS AS OF 1 9 6 8 .
THAT SA M PLE NUMBERED ABOUT 550 B A N K S , WHICH WAS ABOUT 60
PER CENT OF A L L MEMBER BANKS IN THE SEVEN TH F E D E R A L R E S E R V E D I S T R I C T .
IN JA N U A R Y 1 9 7 3 , TH E SU R V E Y WAS BROADENED TO COVER NONMEMBER BAN KS AT
W HICH FARM LOANS C O M P R IS E D 25 P E R CENT OR MORE OF TOTAL LOANS AS OF JU N E 1972
(E X C E P T IN M IC H IG A N , W H ERE THE C R IT E R IO N WAS S E T AT 10 P E R C E N T ).
A TOTAL
OF 476 NONMEMBER B A N K S , R E P R E S E N T IN G 28 PER CENT OF A LL NONMEMBER BAN KS IN THE
D I S T R I C T , RESPONDED TO A R EQ U E ST TO P A R T IC IP A T E IN THE S U R V E Y .
AS OF 1 9 7 3 ,
T H E R E F O R E , THE TOTAL SU R V EY SA M PLE (BO TH MEMBER AND NONMEMBER B A N K S) R O SE TO
OVER 1 ,0 0 0 B A N K S , OP ABOUT 40 P E R CENT OF A L L BANKS IN TH E D I S T R I C T .
A
T Y P IC A L R E S P O N S E RA TE EACH QUARTER I S ABOUT 75 P E R C E N T .
SU R V E Y R E S U L T S A RE P R E S E N T E D AND D IS C U S S E D
IN T IM E L Y I S S U E S
A G R IC U LT U R A L L E T T E R . W HICH MAY BE O B T A IN E D FROM THE F E D E R A L R E S E R V E
C H IC A G O , P . O . BOX 8 3 4 , C H IC A G O , I L L I N O I S , 6 0 6 9 0 .




OF THE
BANK OF

3

n
LAND VALUt AND CkfcDIT C O N D I T I O N S SURVEY,
TAbLfc 321.1

SEVENTH FEDERAL RESERVE D I S T R I C T — F ED E R A L RESERVE BANK OF C H I C A G O

FARM N O N - K E A L - tS T A T E

DATE OF
SU RVEY

1
1

0 EM a N u

LOWER

fur

SAM t

LO A N S
H i GHEk

I9 7 C - Q 1 .. . 1
- 02 . ..1
- 0 3 ...I
- 0 4 ...1
i

lb .
17.
10 .
13.

A7.
50.
95.
51.

35.
33.
A 5.
37.

1 9 7 1 - 0 1 ...1
- 02 . . . I
—0 3 • . . 1
—0 9 . . . |
i

19.
12 .
b.
9•

98 .
92 .
AG .
A8 .

33.
96.
52.
99.

1 9 7 2 - 0 1 ... 1
- 02 . . . 1
- 0 3 . •• 1
—0 9 . • • 1
i

1o •

A7 .
AA .
Afc .
96 .

37.
96.
99.
93.

1

1

lL .
9.
9.

1^ .

92.
58.
55.
50.

c. L .

53 .
33.
31 .
33 •

96.
97.
56.
96.

1 9 7 5 - 0 1 ...|
—C 2 . • • |
- 0 3 ...I
- Q 9 .. . |
i

2 b.
19.
13.
IA .

28 .
29.
32 .
Au .

97.
52.
55.
96.

1 9 7 6 - 0 1 ...1
- 0 2 ...1
- Q 3 ...I
- Q A ... |

15.
10 .
t .
10 .

36 .
39 •
37.
AO.

1 9 7 7 - 0 1 ... 1
-Q 2. . . I
- 0 3 ...|
- O A ...I

a.

3A .
27.
26 .
30.

1

1C .
11 .
1A •

21 .
c 0.
1A.

6.
3.
A.

____ i_




1
I

1
1

Ii
!

1

I

1
ii

1
1
1
1

FUNU A V A l L A b l L l l Y
L GW E k

SAME

1
1

1
i1
1
1
1
1
i
l

5.

15.
27.
16.

11 .
32 .
95 •
29 .

1
1
1

22 .

99.
51.
55.
50.

1
1
1
1
i1

11 .
11 •

58.
67.
72.
65.

i

ii

1
1
1
1

19 .

10 .

9.
13.

12 .
17.
25.
37.

LOWER

8.
10 .

SAME

08 .

H IG H E R

37.
97.
96 •
39.

27.
29.
20 .
16.

65.
6b •
70.
79.

8.
8.
10 .
10 .

99 •
91 .
95.
95.

50.
59.
97.
50.

12 .
6.

70.
72.
7b.
79.

22 .
20 .

23.

53.
92 •
9 7.
97.

92 •
*♦7.
36.
27 •

22 .

59.
57.
66 .
65.

29.
39 •
27.
30.

93.
95.
97.
91.

91.
99.
21 .
19.

27.
28.

96.
99.
59.
59.

9b.
93 •
19.
15.

93.
99.
51.
99.

28 .
2* .
91.

37.
99.
30.
15.

96.
Afc.
60 •
69 •

17.
8.
10 .
21 .

98 •
9b.
98.
99.

9 1.
91.
93.
3b.

21 .

59.
69.
69.
69.

21 .

lb .
19.
19.

96 .
50.
97.
99.

92.
33.
28.
19.

2b .
30.
90.
52.

62 .
61.
55.
95.

10 .

53.
95.
96 •
59.

10 .

1

KATE

13.
13.

10 .

5•
8.
A.

LOAN R EPA Y M EN T

29.
20 .
11 .
8.

59.
58.
61.
69 •

6.

1

70 •
75.
79.

33.
29 .
25.
13 .

b•
6.
7.

H I GHtK

,

13.
13.
1A • '*23.

i
A5 .
j 2.
39 •
36 .

1 9 7 3 - w l...|
- 02 . . . |
- 0 3 .• • |
- O A ...|
il
1 9 7 A - U 1 ...1
-Q 2 . . . |
—0 3 . . . |
- Q 9 ...|
1i

1
1
1

L E N D IN G E X P E R IE N C E D U RIN G THE P R E C E D IN G G U A K T tR *
PE R C E N T A G E OF BA N KS R E P O R T IN G

35.

5.
3.

9•
7.
6.

6.
8.

18 .

18.
16 .
12 .

9.
6.
9.

i
i
I

COMPARED

R EN E W A L S OR

1
1
1
11
1
1
1
1
1
1■
1
1
1
1
1i
1
l

1
1
11
I

1
1
1
11
!

1
1
1
i1
i
i
i
»
ii

i
i
i
_i_

LOWER

SAME

W ITH

E X T E N S IO N S !
H IG H E R

18 .
18.
10 .
9.

62.
65.
71.
79.

20 .

7.
7.
7.
9.

59.
63.
6 /.
72.

16.
17.
IV „
20 .

69.
73.
79.
72.

22 .
30.
23.
28.

52.
56.
65.
69.

26.
19.
12 .
E•

93 .
91 .
13.
11 •

97.
97.
57.
58.

10 .
12 •

19.
6.
11 •
19.

95.
6.
56.
62 .

20 .

57.
58.
67.
68 .

17.
16.
12 .

10 .
10 .
9.
3.

56.
56.
51.

91.

A YEA R

t

E A R L IE R

C O LLA TERA L
L o w er

R E Q U IR E D

sa m e

h ig h e r

|
|
|
|

1.
1.
1•
0.

79.
76.
76.
81 •

25.
23.
21.
19.

39.
30.
26.
19.

1

,G .
1.
1.
2.

63.
79.
66.
66 .

17.
20 .
13.
12 .

13.

|
|
I
|

1.
1.

87.

13.

88 .

11.
8.

17.
20 .
17.

10 .

7.
fc •

|
|
|

|
|
|

Cm

1.
1•
2.

91.
92.

7.

6.
10 .
11.

\

3.
2.

93.
fcb •
fc6 *
89.

30.
32.

|
|
|
|

9.
3.
1.
1.

82.
E 3.
76.
67.

19.
23.
33.

91.
51.
33.
19.

|
I
|
|

1.
1*
0.
1.

69.
71.
78.
61*

30.
29.
22 .
18.

23.

|
|
|
|

1.

63.
81.

1.
1.

16.
18.

83.
b5.

19.

1.

83.
83.
80.
73.

16.
17.
19.
26.

2o .
17.

20 .

39.

r

39.
95.
56.

|
|
!

1.

0.
0.
0.

19.

19.

17.

LAND VALUE AND CRED1i C O N D I T I O N S SURVEY,
TABLE 3 2 1 . I

SEVENTH FEDERAL R ESERVE D I S T R I C T — FEOERAL RESERVE SANK OF CH I C A G O

FARM NON-REAL-ESTATE LENDING EXPERIENCE DURING THE PRECEDING QUARTER, COMPARED WITH A YEAR EARLIER
PER C EN T A G E
DEMAND FOR LO ANS
1
1
SAME
|
LOWER
H IG H E R
_ 1
1
33.
57.
10.
1 9 7 8 - Q 1 ...I
28 .
10.
- Q 2 ...I
62.
34.
9.
3 ?.
- Q 3 ...I
5.
33.
—Q 4 . . . |
62.
■
1
16.
33.
31.
1 9 7 9 - Q 1 ...I
23.
67.
11.
- Q 2 ...I
31 .
11.
38.
- Q 3 ...1
_______________ L-

DATE OF
SU RVEY




FUND A V A IL A B IL IT Y
LOWER

SAME

H IG H E R

OF BAN KS

|

LOAN

I

LOWER

SAM t

R t PAYMENT

R E P O R T IN G
RATE

H IG H E R

31.
38.
41.
48.

51.
45.
45.
40.

18.
17.
14.
12.

I
1
I
1

50.
46 •
29.
28.

42.
45.
61.
61.

9.
9.
10.
12.

30.
60.
50.

38.
30.
39.

12.
11.
11.

1
|
|

26.
30.
22.

56.
33.
65.

18.
15.
13.

REN EW A LS GK
LOWER

5.
7.
9.
9.
14.
11 •
|
10.
___ 1_______

SAME

E X T E N S IO N S !

C O LL A T E R A L

H IG H E R
|
_______________ L

LOWER

SAME

R E Q U IR E D
H IG H E R

40.
42.
57.
60.

56.
52.
34.
31.

|
|
|
|

t .
0.
0.
c.

77.
71.
76.
75.

23.
29.
24.
25.

36.
52.
63.

30.
37.
27.

|
I
I

1.
0.
0.

75.
69.
74.

24.
31.
26.

6
LAND VALUE AND CREDIT C O N D I T I O N S SURVEY,
TABLE 322.1

SEVENTH FEDERAL

RtSERVE D I S T R I C T — FEDER AL RESERVE BANK GF C H I C A G O

FARM NON-REAL-ESTATE LOAN VOLUMc EXPECTED DURING 1HE CUkKENT QUARTER, COMPARED WITH VOLUME UF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY
1970— Q 2 . . . |
—Q 3 . • • |
-Q4...|
1
I971-Q1...I
-Q2...|
-Q3.•.I
-Q4...|
I
1
1972-Q1...1
-Q2...1
-Q3...1
— 04... 1
1
l
1973— Q 1. ..|
— C 2 .. . |
-Q3...1
—Q4.••|
|
1974—Q 1... |
— C 2 ... I
-Q3...|
-Q4...|
|
1975— Q l . . . 1
-Q2...|
—0 3 . • • |
—Q 4 .. .|
|
1976—Q l ... I
— G 2 . ..|
-03...|
-04...|
|
19 77-01...I
-Q2...I
-03.••|
-04.••j

TOTAL

FEEDER CATTLE

DA lRf

LUWER SAME HIGHER

LUWER SAME HIGHER

LOWER SAKE HIGHER

8•
13.
10.

60 •
59.
61.

32.
29.
29.

9.
6.
7.
7.

55.
52.
56.
52.

36 •
42.
37.
41.

10.
b•
7.
10.

53.
*♦6 •
60.
50.

38.
46 •
33.
40.

12.
b.
10.
22.

42 •
31.
46 •
36.

<♦6 •
61.
45.
42.

22.
11.
16.
28.

36.
30.
40.
36.

42.
69.
44.
3b.

23.
14.
14.
21.

29.
30.
43 •
43 .

48.
55.
43.
35.

13.
8.
9.
1C.

43.
39.
46.
42.

44.
53.
45.
48.

7.
4.
7.
11.

38.
32.
36.
31.

56.
64 •
57.
57.




1
1
1
1
1
1
1
1
1
i
i
1
1
1
1
1
1
1
1
1
1
i
1
I
1
1
1
i
1
1
1
1
1
1
1
1
1
I
i
1
1
1
1
1

19.
19.
27.

56.
58.
51.

25 .
23.
23.

32.
22.
18.
13.

58.
65.
66.
48.

9.
13.
17.
39.

13.
16.
18.
19.

6 0.
59.
50.
43.

27.
24.
32.
36.

15.
23.
38.
28.

55.
43.
38.
40.

30.
34.
24.
32.

37.
53 .
59.
67.

4C.
35.
33.
26.

23.
12.
8.
7.

73.
58.
36.
28.

22.
33.
42.
42.

5.
9.
22.
30.

21.
27.
36.
41.

51.
52.
50.
45.

28.
21.
14.
14.

22.
31 .
25.
13.

54.
53.
54.
50.

24.
16.
20.
37.

1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
1
1
i
i
i
i
i
1
1
1
1
1
i
1
1
1
1
1

CROP STORAGE

23.
***
***

69.
***
**♦

b.
***
***

***
***
***
***

***
***
***
***

***
***
***
***

13.
14.
***
*♦*

76.
72.
***
***

1C.
14.
***
***

14.
15.
24.
23.

75.
66.
61.
6 1.

13.
19.
16 .
16.

22.
24.
27.
37.

6 C.
59.
62.
5 1.

17.
17.
11.
11 .

44.
33.
25.
27.

46.
56.
66.
64.

b.
11.
9.
9.

23.
22.
26.
23.

6 6.
65.
61.
6 5.

11.
15.
13.
11.

20.
21.
17.
18.

67.
62.
71.
6 9.

15.
16.
12.
12.

LOWER SAME HIGHER
1
1
1
1
1
1
1
1
k
1
1
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
l
1
1
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1

***
♦ **
15.

***
***
54.

♦ **
***
31.

14.
♦ **
6.

57.
♦ **
**♦
53.

29.
***
***
41.

13.
***
***
12.

63.
**♦
***
60.

24.
***
***
26.

16.
16.
12.
1C.

61.
60.
50.
44.

21.
23.
3b.
46.

2C•
17.
14.
16.

50.
57.
57.
43.

29.
26.
3G.
41.

25.
23.
17.
14.

47.
53.
57.
53.

30.
24.
27.
3c.

14.
17.
16.
12.

53.
57.
55.
50.

33.
25.
29.
38.

11.
14.
12.
11.

50.
54.
44 •
26.

36.
32.
44.
63.

FARM MACHINERY

OPERATING
LOWER SAME HIGHER
1
1
1
i
1
1
1
1
1
i
1
1
1
»
1
1
1
1
1
1
1
i
1
1
1
1
1
i
1
i
i
i
i
l
1
1
1
1
1
i
1
i
i
i
i

8.
10.
9.

49.
52.
57.

44.
38.
34.

6.
5.
9.
8.

47.
34.
48.
59.

46 •
60.
44.
53.

10.
7.
10.
lb.

48.
42.
55.
56.

42.
51.
35.
26.

11.
7.
9.
21.

36.
27.
39.
41.

52.
66 •
52.
39.

16.
7.
6.
12.

28.
14.
28.
30.

56.
74.
66.
58.

9.
4.
7.
18.

21.
18.
32.
42.

70.
78.
ol.
40.

9.
7.
7.
8.

36.
51.
5b.
40.

55.
62.
56.
52*

4.
2.
4.
9.

31.
21.
29.
30.

65.
77.
66 .
61.

LOWER SAME HIGHER
1
1
1
l
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1

30 •
32 •
29.

44.
4 5.
49.

25,
23,
22,

34.
26.
20.
14.

49.
47.
57.
56.

17,
27,
23,
2b

11 •
7.
10.
9.

54.
51.
60.
47.

35,
42
30
44

e.
5.
9.
12 •

39.
26.
39.
30.

53
69
53
58

15 •
6.
22 •
25.

28.
26.
37.
36.

56
64
42
40

25.
28.
26.
15.

35.
36.
40.
40.

39
36
34
45

12.
11.
12.
16.

43.
36.
45.
41.

45
51
43
43

16.
14.
30.
55.

41.
3V.
39.
30.

43
48
30
15

LAND VALUE AND CKEU IT C O N D I T I O N S SURVEY,
TABLE 322.1

SEVENTH FEDERAL R ES ER V E D I S T RI CT — F EDERAL R ESERVE BANK GF CH I C A G O

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
TOTAL
DATE OF
SURVEY

DA 1RY

FEEDER CATTLE

LOWER SAME H1GHE R

LOWER SAME HIGHER

-

CROP STORAGE

LOWER SAME HIGHER

LOWER SAME HIGHER » LOWER SAME
i

1978-01...
— Q 2 ...
—Q 3 . .•
-04...

10.
8.
10.
11.

39.*
29.
45.
40.

51.
63.
45.
49.

14.
13.
18.
17.

55.
46.
5 U»
40.

30.
41.
31.
44.

16.
15.
15.
17.

7 3.
67.
7 3.
68.

11.
18.
12.
15.

16.
17.
13.
12.

45 •
5 5.
57.
40.

39.
28.
29.
48.

1979-01...
-02...
-03...

19.
10.
16.

39.
32.
39.

42.
58.
45.

26.
26.
31 .

4C.
40.
48.

34.
34.
21.

21.
17.
18.

68.
65.
70.

12.
18.
12.

20.
20.
25.

55.
55.
57.

25.
25.
18.




i
_L _

OPERATING

i
i
1
1

1
1
1

i
1

i

i

i

i

FARM MACHINERY

HI GH ER

LOWER ^A ME HIGHER

8.
7.
9.
13.

31.
23.
38.
40.

61.
71.
53.
47.

45.
35.
26.
20.

37.
34.
44.
43.

10.
7.

35.
25.

68 .

54.

25.
17.
22.

41.

8.

36.

57.
___ 1L

35.
42.

18.
31.
37.
35.

48.
36.

L A N D VALUE AND CREDIT C O N D I T I O N S SURVEYr
TABLE 323.1
L O A N / D E P O S I T RAT I O S

SEVENTH FEDERAL

|PERCENTAGE CF BANNS REPORTING
AVERAGE
! THAT LOAN/DEPOSIT RATIO IS—
DATE OF
ILGAN/DEPUS1T 1
SURVEY
|
RATIO
hlGHER
1 LOWER
desirable
THAN
(PER CENT) I THAN
_D£<>1R£D_
1 DESIRED
1
49.
55.
25.
2 6.
1970—01. • • I
1
47.
25.
55.
26.
—C 2 ... 1
1
17.
46.
56.
37.
— 03..* 1
1
***
**♦
***
*♦*
-04... 1
1
i
1
♦
***
***
***
1971-Q1... 1
1
44.
41.
64.
15.
i
-02. . . 1
4 7.
35.
55.
1
16.
-03.•• 1
45.
55.
36.
- Q 4 . .. |
1 7.
1
I
46.
54.
36.
17.
1
1972-01... 1
54.
52.
34.
14.
1
-02.. . 1
49.
55.
32.
19.
1
-Qj. • • 1
55.
55.
31.
14.
1
-04... 1
i
i
51.
32.
17.
1973-01. . . 1
t
51.
-02... |
54.
32.
1
17.
45.
34.
2 0.
-03...|
55.
1
41.
-04... |
37.
56.
i
22.
i
i
4 b.
55.
2 C.
1974—Ql... 1
1
32.
52.
54.
31.
-02.••|
1
17.
36.
56.
37.
27.
-03..• 1
1
-04... |
30.
57.
1
36.
32.
I
1
32.
36.
57.
32.
1975-01...1
1
35.
37.
— 02 . . . |
56.
26.
1
39.
39.
-03...|
56.
22.
1
42.
-04.••j
36.
57.
2 2.
1
i
I
34.
42.
1976-01...|
57.
2 3.
i
44 •
36.
-Q2...I
56.
20.
i
43.
3j .
-03...|
2 4.
57.
i
- 0 4 . ..|
41.
34.
59.
2 5.
i
i
1
39.
1977-01...|
35.
59.
26.
i
35.
-Q2...I
69.
37.
i
28.
32.
30.
-03...|
61.
36.
i
22.
-04.. . |
64.
32.
i
46.




.1

RESERVE D I S T R I C T — FEDERAL R ESERVE BANK OF C H I C A G O

LAND VALUE AND CR ED IT C O N D I T I O N S SURVEYt
TABLE 323.1

SEVENTH F ED ERAL REStRVE D I S T R I C T — FEDERAL R ESERVE BANK OF CHIC A G O

LOAN/DEPOSIT RATIOS
IPERCENTAGE OF BANKS REPORTING
1
| THAT LOAN/DEPOSIT RATIO IS—
1 AVERAGE
DATE OF
ILOAN/DEPOSIT1
RATIO
SURVEY
HIGHER
1 LOWER
1
THAN
DESI RA BLE
1 (PER CENT) I THAN
DESIRED1_DESIRED
I
1
1
41.
62.
(
27.
32.
1978-01. . . |
44.
64 •
33.
1
23.
-02. . . 1
64 •
46.
I
22.
33.
—03. . . 1
52.
— Q4. . . 1
66.
26.
1
iv.
■
i
1
50.
33.
I979-Q1. . . 1
65.
1
IT.
58.
27.
67.
1
15.
-02. . . 1
55.
67.
1
14.
31.
“ 03. . • 1
__ L
-±




L A N D V A L U E AND CREDI T C O N D I T I O N S SURVEY,
T A b L E 32A.1

S tVENTH FEDERAL

RESERVE D I S T R I C T — F ED E R A L R ES E R V E BANK OF CH I C A G O

TYPICAL IN1EREST RATES CHARGED ON FARM LOANS
JAVERAGE, PER CENT)
DATE OF
SU RVEY

|
|
1
1
1 9 6 7 - Q 1 ...1
- 0 2 ...1
—0 3 . • . |
—0 4 . • • )
i
1
1 9 6 8 - Q 1 ...I
—0 2 . . . I
- Q 3 .• . |
-Q 4. ..1
i
1
1 9 6 9 —0 1 . • • |
- 0 2 ... 1
- 0 3 ...1
- Q 4 ...1
I
1
19 7 0 - 0 1 . . . 1
—0 2 . . . I
- 0 3 ...1
- Q 4 ...I
1
1
1 9 7 1 - 0 1 ...1
—Q 2. . . 1
—0 3 •. .1
—0 * . . . 1
l
1

O P E R A T IN G
LOANS

R EA L E S I 4Tt
LOANS

6 .4 2
6 .4 1
6 .3 9
6 **t2

*****
*****
*****
*****

** ***
*****
*****
*****

6 .6 2
6 .6 7
6 .£ 6
6 .8 6

*****
** ***
*****
*****

*****
** ***
*****
*****

6 .8 6
7 .0 4
7 .1 9
7 .4 7

*****
*****
*****
*****

*****
*****
*****
*****

7 .6 9
7 .7 3
7 .7 8
7 .6 1

*****
*****
*****

7 .6 1
*****
8 .00
** ***

7 .8 1
7 .6 8
7 .6 7
7 .6 7

*****
*****
*****
*****

6 .03
7 .7 6
7 .70
7 .7 4

7.64
7.46
7.44
7.47

*****
** ***
*****
*****

7 .69
7 .62
7.61
7.64

7.62
7.65
7.69
8.27

** ***
*****
** ***

i .67
7.71
? .81
8 .35

8.28
8.30
8.60
9.05

*****

FEED ER C ATTLE
LOANS

1972-Q1...I
-02...I
-03...1
-04...I
1
1
1973-01...1
—0 2 . • • i
—Q3...I
-04...|
i
1
1974-01...1
-02...|
-03...|
-Q4...I
-- L




*****

*****

*****
*****
*****

8 .50
8 .39
8 .60
9.06

LAND VALUE AND CREDI T C O N D I T I O N S SURVEY,
TABLE 32A.1

SEVENTH FEDERAL

RESERVE D I S T R I C T — F EDERAL RE SE R VE BANK OF C H I C A G O

TYPICAL INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT)
DATE OF
SURVEY

|
I

FEEDER CATTLE
LOANS

________ i_
1
1975-01... 1
-02...|
-03...I
— Q 4 .. . |
1
1
1976-01...1
-02...I

real

estate

LUANS

8.95
8.84
8.76
8.81

*****
*♦ ***
*****
8.90

9 .04
8 .94
8 .69
8 .96

8.80
8.74
8.79
8.76

8.89
8.85
8 .86
8.87

8 .97
6.95
8 .55
8 .96

8.71
6.71
8.7<t
8.79

8.83
8 .82
8 .84
8.89

8 .92
P .91
6 .93
8 .97

8.65
8.90
9.12
9.40

8.91
9.0C
9.21
9 .50

9.00
9 .C 7
9 .30
9 .61

10.14
10.46
10.62

10.25
10.54
10.91

10.20
1C.47
10.63

-03...|
-Q4...|

1
1977—Ql...I
-02...1
-03...|
-04... |
1
1
1978-01...1
—Q 2 ... 1
-03...I
-04... |
1
1
1979-01...1
-0 2 . . . |
-03...!

OPERATING
LOANS

_____ L




L A N D VALUE AND CREDIT C O N D I T I O N S SURVEY,
T ABLE 325.1

SEVENTH F EDERAL R ES E R V E D I S T RI CT — F ED E R A L RE SE R VE BANK OF C H I C A G O

TRENDS IN FARM RfcAL ESTATE VALUES AND LOAN VOLUME

•
•
•

l

Of

MARKET VALUE OF GOOD FARMLAND
1
1.
DATE OF
| PERCENTAGE CHANGE 1 PtftC ENTAGE OF BANKS EXPECTING
TREND DURING THE CURRENT
SURVEY
| FROM PREVIOUS—
I
OUARIE k TG BE—
L
YEAR
|
1 QUARTER
STABLE
___ UP
DOWN
1
1
***
j
9.
73.
18.
0.
1958-Q2...I
i
73.
5.
22.
-1.
-03...1
**♦
i
63.
34.
3.
-04...|
2.
i
1
*♦*
j
56.
1.
43.
1.
1959—01... 1
**♦
j
93.
56.
1.
0.
-02...1
i
2.
56.
42.
- 0 3 . ..I
1•
***
***
***
V**
***
i
—0 4 . . . |
i
1
***
i
20.
69.
11 .
-3 •
19 6C — 0 1 . . . |
**♦
i
34.
0.
60.
6.
-02...|
***
i
37.
-03...|
-1.
60.
3.
***
i
ob.
— 04.. . |
57.
-1 .
5.
1
1
42.
-3.
1
55.
4.
-I .
1961— Q l . ..1
-3 •
|
2 5.
0.
69.
-02...1
t>•
-2.
1
15.
2.
75.
-03...1
10.
9.
2.
|
2.
-04...|
74.
17.
1
1
♦**
|
***
***
***
♦ **
1962-01...1
4.
|
6.
1.
-02..• 1
75.
19.
***
j
***
***
♦**
♦ **
—0 3 . . . |
1.
|
0.
—04...|
10.
bl.
10.
i
1
***
j
4.
1.
1963-01...1
76.
20.
c.
5.
24.
-02...|
71.
1*
1
3.
I
3.
-03...|
2.
74.
23.
3.
|
-04...|
5.
1.
36.
59.
1
1
3.
i
2.
37.
1.
1964-01...1
61.
4.
|
—02...I
1.
1.
41.
58.
3.
|
2.
-03...|
1.
61.
37.
4.
I
—0 4 . . . |
1.
4 5.
2.
54.
1
1
6.
|
1965— Q l . . . |
54.
1.
1.
45.
6.
|
60.
2.
1.
-02...|
39.
5.
|
0.
58.
1.
42.
7.
|
75.
1.
2.
24.

______________ L.



PERCENTAGE OF BANKS EXPECTING
FARM REAL ESTATE DOAN VOLUME
DURING THE CURRENT QUARTER,
AS COMPARED WITH VOLUME MADE
A YEAR EARLIER, TL BE - '
. LOWER

SAME

HIGHER

**♦
♦ **
♦ **

♦ **
***
***

***
**♦
***

*♦*
***
***
***

***
***
***
***

**♦
***
***
**♦

***

***
♦ **
***
***

***
***

***
***
***
***

**♦
**♦
***
***

***
♦ **
***

**♦
***
♦ **
***

***

♦ **
***

***

***

***
***
***
♦ **

♦ **
***
***
♦ **
***
***

**♦
♦ **
***
***

***
***

***
**♦

**♦

♦**

♦ **

***
2.

*♦*
73.
*♦*

25,
***

L A ND VALUE AND CREDIT C O N D I T I O N S SURVEY* SEVENTH FEDERAL RESERVE D I S T R I C T — FEDERAL RESERVE BANK OF CHIC A G O
TA BLE 325.1
TRENDS IN FARM REAL ESTATE V A L U E S A ND LOAN VOLUME

PERCENTAGE OF BANKS EXPECTING
MARKET VALUE OF GOOD FARMLAND
I
FARM REAL ESTATE LOAN VOLUME
1.
DURING THE CURRENT ClUARTER,
DATE OF
| PERCENTAGE CHANGE | PERCENTAGE OF BANKS EXPECTING
AS COMPARED WITH VOLUME MADE
|
SURVEY
I FROM PREVIOUS—
TREND DURING THE CURRENT
A YEAR EARLIER, TO BE—
OUARTER TO BE—
1
YEAR
I.
1 UUARTER
SAME
LOWER
DGMN
_ higher
$ IABLE ....
1
UP .- -J
1
74.
30.
3.
67.
2.
0.
a.
1
26.
1966-Q1...1
♦ **
***
4.
1C.
|
83.
17.
0.
-Q2...1
***
***
**♦
71.
-03...I
1.
28.
9.
1
1.
64.
4.
65.
3.
34.
33.
-Q4...I
9.
|
1.
t
1
***
**♦
***
57.
42.
2.
8.
|
1.
1967*01...1
**♦
*♦*
***
56.
44.
2.
1.
*02 .. . |
7.
1
76.
8.
48.
51.
15.
5.
|
1.
*03...1
1.
53.
13.
72.
45.
6.
|
15 *
2.
*04...|
2.
i
1
***
***
33.
59.
a.
2.
6.
|
1968-01...1
♦ **
***
***
36.
56.
6.
i
8.
2.
*0 2... 1
6.
|
2 7.
63.
58.
0.
6.
11.
*03...I
28.
28.
62.
59.
13.
1C.
3.
|
-04...I
1.
i
1
24.
68 .
12.
3.
|
8.
81.
7.
2.
1969-01...1
***
***
24.
62 .
3.
|
1*.
1•
*02 ... 1
***
♦**
***
6b .
4.
|
22.
12.
2•
*03...|
14.
5 0.
44.
66 .
15#
0.
4.
|
20.
—0 4 . • • |
i
1
14.
64.
41.
52.
8.
4.
i
22.
0.
197C-01...I
***
1 1•
21.
68.
1.
1.
1
- Q 2 . ..1
5.
8.
35.
60 .
15.
78.
0.
-03...|
-1.
1
59.
17.
72.
11.
31.
0.
0.
|
10.
*04...|
i
1
11.
14.
75.
2 8.
63.
9.
1.
1.
1
19 71 -0 1. ..I
68.
80.
19.
6.
17.
U.
2.
i
1.
*02...|
16.
75.
63.
13.
1.
2.
11.
—0 3 . . . t
3.
1
9.
76.
81.
16.
4.
I
3.
15.
-04 . . . |
1.
•
1
75.
22 .
11.
72.
17.
4.
i
3.
1.
1972-01...1
34.
70.
B.
65.
23.
1.
4.
1
1.
-02...1
34.
10.
0.
66.
72.
18.
2.
3.
1
—Q 3... I
4?.
67.
52.
8.
25.
6.
|
1.
3.
- G 4 . ••1
i
I
70.
47 .
e.
7.
|
1.
52.
22.
2.
1973-01...1
44.
61.
56.
c.
6.
7.
32.
-02...1
11.
1
56.
43.
12.
63.
4.
1.
25.
-03...|
13.
i
56.
1.
43.
17.
62.
—0 4 . • • |
a.
17.
i
21.
_ L



L A N D VALUfc AND CREDIT C O N D I T I O N S SURVEYt
T A B L E 32S.1
T R EN D S I N

StVtNTH FEDERAL

FARM R E A L

E ST A T E

RESERVE D I S T R I C T — F EDERAL

RESERVE BANK OF C H I C A G O

V A L U E S AND LOAN VOLUME

1 PER C EN T A G E OF B A N K S E X P E C T IN G
M ARKET V ALUE U F GOOD FARMLAND
1
1
|
FARM R E A L t S T A T E LUAN VOLUME
D U R IN G THE CURRENT O U A R TER t
DATE OF
| PER C EN TA G E CHANGE 1 PE R C E N T A G E O F BA N K S E X P E C T IN G 1
TREND D U R IN G THE CURRENT
I
AS COMPARED W IT H VOLUME MADE
FROM P R E V IO U S —
1
SURVEY
I
1
A Y E A R E A R L I E R t TO B E —
Q UARTER TO B E —
1
YEA R
|.
1 QUARTER
S IA B L E
1
LQIRFR
.H IG H E R
UOMN
- SA M E-____ UP — 1
1
19.
64.
32.
46.
24.
|
2.
1
17.
5.
1 9 7 4 - 0 1 ...|
33.
44.
62.
3.
34.
I
27.
12.
1
1 1.
- 0 2 ... 1
67.
I
26.
61.
8.
25.
13.
29.
|
—0 3 .« • 1
3.
66.
6.
29.
1
33.
34.
11.
25.
|
- Q 4 ...1
8.
i
1
36.
9.
77.
14.
9.
1
34.
23.
|
3.
1 9 7 5 —01 . . . 1
6.
79.
14.
|
13.
1
26.
62.
12.
2•
—Q 2. . . 1
6.
b l.
13.
1
23.
13.
|
68.
9.
•
- 0 3 ... |
1.
36.
43.
1
20.
68.
- 0 4 ... |
9.
12.
17.
\
i
1
3.
29.
7.
22.
1
68.
13.
1
15.
73.
1 9 7 o - 0 1 .. . |
i.
27.
1
67.
31.
71.
18.
7.
1
11.
- 0 / .. . 1
30.
*
1.
41.
65.
6.
58.
1
17.
18.
—0 3 . . • 1
2.
29.
|
33.
43.
b•
- 0 4 ...|
67.
19.
1
15.
i
1
2.
5.
28.
1
64.
I
16.
61.
37.
1 9 7 7 - 0 1 ...1
20.
30.
|
1.
8.
—02 . . . |
31.
65.
23.
4 t.
1
12.
9.
30.
|
H•
66.
- 0 3 ...|
26.
I
18.
16.
65.
34.
lb •
1
-1.
- 0 4 ...|
36.
|
36.
1G.
56.
8.
l
1
13.
1
16.
2.
61.
74.
1C.
1 9 7 8 - 0 1 ...I
8.
1
31.
7.
I
6.
4.
71.
63.
23.
13.
I
23.
—02 . . . 1
b.
1
3.
4.
64.
74.
23.
1
25.
- 0 3 ...1
10.
13.
|
3.
4.
|
29.
62.
9.
69.
- 0 4 ... |
2b.
i
1
17.
|
2.
|
3 3.
58.
7.
3.
70.
1 9 7 9 - 0 1 ...1
28.
1 6.
|
3.
59.
10.
33.
-02 . . . |
2.
1
31.
62.
2.
9.
13.
1
65.
- 0 3 ...I
3.
33.
1
29.
62.
____________ L_
1-




A G R I C U L T U R A L FIN ANC E D A T A B O O K — Q U A R T E R L Y

330

SERIES

JULY

1979

MINNEAPOLIS

331.1
332.1

CURRENT FARM LENDING EXPERIENCE..................................... 16
EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS................ 18

333.1

AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT
CREDIT AVAILABILITY.................................................. 20

334.1

INTEREST RATES ON FARM LOANS........................................ 22

335.1

FARM REAL ESTATE LENDING EXPERIENCE................................ 24

336.1

FARMERSf EARNINGS AND SPENDING...................................... 26

THE FEDERAL RESERVE BANK OF MINNEAPOLIS INITIATED A QUARTERLY
AGRICULTURAL CREDIT CONDITIONS SURVEY IN 1964. THE SURVEY PANEL AND
QUESTIONNAIRE HAVE REMAINED LARGELY COMPARABLE OVER TIME. THUS AMONG THE
RESERVE BANK SURVEYS * THIS SURVEY PROVIDES EXCEPTIONALLY LONG AND BROAD
COVERAGE OF AGRICULTURAL CREDIT CONDITIONSt AND IS ESPECIALLY VALUABLE IN
THAT THE SERIES SPAN SEVERAL MONETARY AND FARM INCOME CYCLES.
THE SURVEY PANEL IS CHOSEN FROM AMONG BANKERS ENGAGED IN FARM LENDING
TO PROVIDE A GEOGRAPHICAL AND BANK-SIZE CROSS SECTION OF THE BANKS IN THE
NINTH FEDERAL RESERVE DISTRICT. THE CORE OF THE PANEL CONSISTS OF MEMBERS
OF THE UPPER MIDWEST AGRICULTURAL CREDIT COUNCIL, AN ORGANIZATION OF
AGRICULTURAL REPRESENTATIVES AND LENDING OFFICERS OF NINTH DISTRICT BANKS.
THE INITIAL SURVEY IN 1964 COVERED 75 BANKERS. OVER TIME, THE PANEL WAS
ENLARGED;
AS OF 1973, IT COVERED 175 BANKS. THE RESPONSE RATE HAS
TYPICALLY BEEN 90 PER CENT OR BETTER.
SURVEY RESULTS ARE PRESENTED AND DISCUSSED IN A QUARTERLY REPORT,
AGRICULTURAL CREDIT CONDITIONS SURVEY. WHICH MAY BE OBTAINED FROM THE
RESEARCH DEPARTMENT, FEDERAL RESERVE BANK OF MINNEAPOLIS, MINNEAPOLIS,
MINNESOTA, 55480.




15

16

S U R V E Y OF CU RR E N T A G R I C U L T U R A L C R E D I T C O N D I T I O N S , N I N T H FE DE R AL R t S E R V E D I S T R I C T — F EDERAL R E S E R V E B A N K O F M I N N E A P O L I S
T A B L E 331.1

CURRENT FARM LENDING EXPERIENCE
PERCENTAGE OF BANKS REPORTING

CURRENT EXPERIENCE COMPARED WITH USUAL CONDITIONS
1
1
1 PROPORTION OF FARM
1
1
I CUSTOMERS LOANED UP
DATE OF
DEMAND FUR NON-RE AL-E STATE LUANS
OEBT
DEMAND FOR DEBT
1
1
1
1 TO THEIR PRACTICAL
SURVEY
1
i
EXTENSION OR
1
RE PAYMENT
| 0£BT LIMIT, COMPARED
SHORT-TERM
|
INTERMEDIATE-TERM
REFINANCING
1
i
1
1 WITH A YEAR EARLIER
1 ____
______
1
.
I
|
__ L_—LUttfcB___aAM£ Ml GMiB. —1 __ LiUatEJB___frAME... Hl,SM£fi _ j __
___j>AM£___ULSHErt _L _ _S1UH.___ i&UAJ___ BAE1Q-,-1 - ^UUtLfi__SAME HIGHER
1964-01...|
—02... 1
—0 3...|
-Q4...I
1
1965-01...|
-02...|
-Q3...I
-04...|
i
1
1966-01...|
-02.••1
-Q3...I
-04...|
I
1967-Q1...I
-02...|
-Q3...I
-04...|
1
1
1968-01...|
-02...!
-03...1
-Q4...|
i
1
1969—Ql.••I
-02...1
-Q3...I
-04...|
i
1
1970—Ql. •. 1
-Q2...I
—03... 1
-04...|
|

1971—Ql..•1
-02...I
-Q3...I
-04...|

9.
7.
15.
16.

66 •
76.
68 .
71 .

25.
17.
17.
13.

8.
7.
3.
17.

57.
60.
69.
78.

35.
33.
. 28.
5.

9.
6.
♦**
10.

70.
78.
♦**
77.

21.
16.
***
13.

8.
3.
3.
14.

77.
80 .
65.
77.

15.
17.
32 •
9.

2.
3.
2.
4.

76.
76.
72.
87.

c2.
21.
26.
9.

8.
10.
5.
10.

82.
72.
81.
76.

10.
18.
14.
14.

6.
2.
3.
1•

76.
78.
66.
81.

18.
20.
31.
12.

8.
4.
4.
6.

74.
62.
74.
84.

18.
33.
22.
11.




1
»
1
1
i
1
f
1
1
1
1
1
1
I
1
1
i
1

***
***
♦**

**♦
***
*♦*
***
***
***

***
***
***
***
***
**♦
***
**♦
***
***

***
♦**
♦**
***
***
***
***
***
***
***
***

87.

*♦*
***
*♦*
6.

6.
8.
5.
7.

80.
76.
84.
85.

14.
16.
11.
8.

7.
11.
8.
10.

82.
76.
79.
80.

12.
13.
13.
10.

i
i
i
i

7.
12.
14.
12.

85.
76.
69.
83.

9.
11.
17.
5.

i
i
i
i

15.
12.
5.
9.

79.
75.
87.
79.

6.
13.
8.
12.

i

i
i
i
i
1
1
1
1
1
i
1
1
1
1
1
I
1

1
1

***
*♦*
7.

***
*♦*

1
1
1
1
i
1
1
1
1
1
1
l
1
1
1
1
i
1
1
1
1
1
i
l
1
1
1
1
i
1
1
1
1
1
i
1
i
i
i
i
■
i
i
i
i

i

♦**
***
6.
9.

***
52.
53.

*♦*
43.
38.

2.
2.
11.
21 .

38.
43.
62.
63.

60.
55.
27.
16.

2Q.
16.
***
22.

50.
66.
***
68.

30.
20.
**♦
10.

18.
6.
11 .
16.

70.
79.
81.
71.

12.
15.
8.
13.

8.
2.
6.
17.

65.
65.
70.
79.

27.
33.
24.
4.

13.
9.
11.
14.

72.
71.
76.
78.

15.
2C.
13.
8.

14.
10.
10.
6.

67.
73.
77.
82.

19.
17.
13.
12.

6.
4.
3.
9.

58.
71.
85.
83.

36.
25.
12.
8.

28.
23.
34.
27.

62.
76.
66.
71.

10.
1.
0.
2•

53.
46.
26.
11 .

46.
52.
70.
75.

1.
2.
4.
14.

23.
10.
♦**
6.

67.
84.
***
80.

10.
6.
♦**
14.

11.
16.
10.
6.

74.
83.
89.
87.

15.
1.
1.
7.

i
i
i
i

26.
26.
0.
6.

73.
74.
83.
80.

1.
0.
17.
14.

i
i
i

12.
19.
11.
6.

84.
79.
87.
89.

4.
2.
2.
5.

i
i
i
i

11.
14.
16.
16.

82.
85.
82.
82.

7.
2.
1.
2.

i
i
i

38.
25.
19.
9.

59.
75.
81.
87.

4.
0.
1.
3.

1
1
1
1
i
1
i
i
i
i

i
1
1
1
1
»
i
1
1
1
1
1
l
1

i
1

»
1

i
1

i
i

12.
15.
15.
6.

58.
45.
43.
5<*.

29.
40.
42.
40.

4.
7.
8.
25.

53.
53.
60.
63.

43.
40.
32.
12.

20.
16.
**♦
16.

64.
70.
♦**
74.

16.
14.
10.

i

lb.
9.
6.
10.

76.
83.
81.
80.

6.
8.
13.
10.

i

7.
10.
2.
14.

68.
61.
66.
72.

25.
29.
32.
14.

15.
6.
2.
7.

73.
75.
82.
82.

12.
19.
16 «
11.

i
i
i
i

10.
8.
3.
5.

75.
75.
71.
75.

16.
18.
26.
20.

l
l
l

3.
3.
3.
6.

69.
69.
75.
81.

29.
28.
22.
13.

i
i
i
i
■
l
i
i
i
i

i
1
1
1
1
1
1
l
i
t
i
i
1
i
i
i
■
1
i
i
i
i
i
1

a
1

I

17

S U RVEY OF CURRENT A G R I C U L T U R A L C R E D I T C O N D ITIONS, N IN T H F EDERAL RESERVE D I S T R I C T — F ED ERAL R E SERVE BANK OF M I N N E A P O L I S
TABLE 331.1
C URREN T FARM L E N D IN G
PE R C E N T A G E OF BAN KS
C U R R EN T E X P E R IE N C E

COMPARED W IT H U SU A L

DEMAND FO R NON—R E A L —E STATE

DATE OF
SU R V E Y

LLMLB__SAUL

1972-01...|
—Q2.•. |
-03... |
-Q4...I
i
1
1973-Q1...I
-02.. . |
-03... |
-Q4...|
1
1
1974—QI...I
-Q2...I
-Q3...I
-Q4.••|
i
1
1975—Ql...|
-02...|
-03...1
-04...|
i
1
1976-01...1
—Q2... 1
-03...I
-Q4...|
1
1
1977-QI...I
-02...1
-03.•.1
-04...|
k
1
1978-01...I
-02...!
—Q3 ••• 1
-Q4...I

ft
1

1979—Ql... |
-02... |
-03...1

6.
2.
2.
11.

79.
85.
84.
81.

15.
13.
13.
7.

17.
13.
8.
20.

72 .
64 •
72.
t>7•

12.
23.
20.
13.

19.
25.
6.
12.

62.
54 .
66.
65 .

19.
21.
28.
24.

15.
11.
9.
12.

55.
59.
56.
79.

30.
• 30.
35.
10.

7.
4.
8.
13.

o4 .
75.
61.
57.

30.
20.
31.
30.

9.
8.
3.
e.

55 .
53.
60 .
60.

37.
39.
37.
31.

6.
5.

69.
66.
72.
63 •

26.
29.
26.
31.

TO.

28.
30.
42.

1.

6.

3.

1.

4.




69.
64 .

1
1
1
1
I
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
1
1
i
l
1
1
I
1
l
1
1

1
1
I
1
1
1
1
1

5.
2.
5.
5.

85.
85.
85.
85.

1C.
13.
10.
10.

7.
5.
5.
11.

85.
77.
81 .
71.

9.
18.
14.
17.

14.
14.
11.
16.

77.
74.
77.
72.

9.
12.
12.
12.

23.
13.
17.
15.

67.
71.
68.
74.

10.
16.
15.
12.

12.
9.
20 •
23.

73.
78.
70.
63.

15.
13.
9.
14.

25.
25.
20.
22.

50.
53.
66.
56.

25.
17.
14.
21 .

22.
13.
6.

7.

67.
73.
75.
72.

11.
14.
19.
22.

9.
8.
6.

76.
71.
67.

*1.

15.

27.

PR O PO R T IO N OF FARM
C U STO M ERS LOANED UP
TO T H E IR P R A C T IC A L
D EBT L I M I T , COMPARED
W IT H A YEA R E A R L IE R

DEBT

REPAYMtNT

JL h d t & ___SAML— d l G H t L __ 1 ___SLQleL. — USUAL—£A£JLD.~JL

SA£3L__EtlGbLB

ilLGM LL

C O N D IT IO N S
DEMAND FUR D EBT
E X T E N S IO N OR
R E F IN A N C IN G

LOANS

IN T E R M E D IA T E - T E R M

SH O RT-TERM

E X P E R IE N C E
R E P O R T IN G

1
1
1
1
i
1
1
1
1
I
i
1
1
1
1
1
i
1
1
i
1
1
I
1
1
1
1
1
1
1
1
1
1
I
1
1

1
1
1
i
1
1
1
1

1

1C.
4.
5.
16.

74.
81.
87.
79.

15.
15.
8.
5.

30.
24.
19.
44.

66.
69.
77.
5*.

4.
6.
5.
2.

42.
40 .
20.
17.

53.
50.
64.
59.

5.
10.
16.
24 •

7.
8.
7.
13.

49.
67.
52.
63.

45.
45.
41.
24.

4.
4.
5.
1.

58.
54.
61.
51.

38.
42.
34.
47.

1.
1.
2.
1.

30.
34.
43.
3b.

69.
64.
55.
61.

1.
2.
4.
10.

36.
50.
7o.
73.

63.
48.
20.

13.
10.
11.

71.
76.
69.

16.

ii.
14.
19.

i
i
i
i
l
1
1
1
1
1
1
1
1
1
1
k
1
1
1
1
I
i
1
1
1
1
1
t
1
1
t
1
1
1
1
1

1
1
1
1
1
1
1
1

18.
12.
7.
2.

77.
86.
92.
86 •

6.
2.
1,
12,

0.
2.
1.
3.

74.
76.
80.
6b.

26.
23.
ie,
40.

4.
6.
23.
35.

61 .
66.
71 .
57.

36.
2*.
6.
8.

52.
50.
34.
21.

40.
45.
65.
74.

8.
5.
1.
4.

31 .
42.
35 .
60 •

66 *
58.
63.
36.

1.
0.
2.

75.
75.
62.
74.

25.
25.
38.
26.

0.

61.
55.
28.
28.

3*,
45.
67.
67.

21.
18.
20.

72.
77.

71.

1.

0.

c.
1.

0.
5.

A.
P.

10,
3.

i
i
i
i
i
V
1
1
1
1
1
1
1
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1
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•
1

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I
l
I
»

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i

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1
1
I

I
l
i
|
1
•
1
1

12.
9.
9.
17.

76.
79.
83.
79.

12.
12.
7.
4.

30.
36.
26,
43.

66.
61.
71.
56.

1.
3.
2.
1.

44.
41.
19.
16.

55.
66.
57.
57.

1,
3.
23.
27.

10.
10.
6.
12.

51.
*5.
56.
63.

38.
46.
3 ?•
26,

9,
6.
3.
2.

61.
62.
61.
56.

31,
32.
36.
42.

2.

44.

1.

49.

2.

47.

1.

6.

7.

lb.
23.

30.
28.
18.

46.

61.
62 .
62,

61.

60.
56.

55.

51.

5>*
62.

50,
31,

22.
15.
8.
13*

26*

S U R V E Y OF CURRENT A G R I C U L T U R A L C R E D I T C O N D I T I O N S , N I N T H F EDERAL R EStRVE D I S T R I C T — F EDERAL R E S E R V E BANK OF M I N N E A P O L I S
T AB L E 332*1

EXPECTED FARM LOAN DEMAND AND REPAYMENI CONDITIUNS
PERCENTAGE OF BANKS REPGRT1NG

DATE OF
SURVEY

i
1
1.

EXPECT ED DEMAND FUR FARM LOANS IN CURRENT
QUAKTcK» COMPARED WITH USUAL CONDITIONS

\ NUN-REAL -ESTATE LUANS
1
1.
____ ____J _LOWER ...SAME. HIGHER _
1
6.
1964-Q1...|
73.
21.
5.
72.
-02...1
23.
-03.*.|
6.
73.
22.
4.
-Q4...1
t>4 •
32 •
i
1
^9 .
2•
49.
1965-01...1
j>.
47.
—02 ...|
30.
-03...|
74.
17.
9•
-04...1
20.
68 .
12.
i
1
23.
1966-01... I
5.
72 .
4.
-02...1
lb.
lb .
***
***
—03...|
14.
14.
-04...|
72 .
1
1
7.
6.
tl .
1967-01...1
21.
3.
—02 ... I
7b.
14.
4.
—0 3...|
62 .
14.
-04... |
13.
73.
i
6.
13.
81 .
1968-01... |
74.
20.
6.
-02.. • |
4.
79.
17.
-03...|
b0 .
—Q4...|
7.
13.
|
12.
6•
62 .
1969-01...|
21.
4.
75.
-02... |
75 .
17.
8.
-Q3... |
79.
11.
10.
-04... |
|
17.
61.
2.
1970-01. ..1
73.
23.
5.
-02... 1
80.
14.
7.
-03... |
79.
13.
—Q4.•• |
6.
1
76.
19.
5.
1971-Q1...I
69.
28.
3.
-02...|
68 .
11.
2.
-Q3...I
76.
14.
-04...1
9.
_____________ L




|
| ADVERSE CHANGE
EXPECTED IN
1
» 1f a r m e r s * a b i l i t y
DEBT EXTENSION
OR REFINANCING
I TO REPAY DEBTS
1IN THE NEAR FUTURE
1
_L1M£R SAtLE. HIGHER
I
***
***
***
|
35.
***
j
*%*
***
52.
3C.
|
4.
66.
48.
59.
40.
|
1•
47.
i
44.
54.
|
1.
46.
48.
|
51.
1.
32.
69.
14.
17.
|
23.
53.
28 •
15.
|
22.
1
66.
14.
20.
|
10.
11 .
76.
13.
|
7.
***
***
***
|
***
26.
64 •
10.
|
3•
I
1
13.
79.
9.
8•
|
i.
16.
|
81.
21 •
4.
67.
15.
5.
I
13.
74.
30.
13.
|
i
1
6.
64.
30.
|
30 •
0.
70.
30.
|
35.
4.
79.
27.
17.
1
12 .
28 .
71.
17.
|
1
11 .
14.
14.
|
75.
5.
2C .
75.
20.
t
7.
21.
82.
11.
1
11.
15.
10.
|
79.
i
1
7.
17.
76.
17.
1
6.
15.
15.
1
78.
7.
15.
|
17.
78.
8.
19.
20.
1
71.
1
1
3.
26.
1
26.
71.
3.
22.
1
21.
75.
3.
10.
1
17.
66.
13.
|
13.
19.
75.
__ 1_

S U R V E Y OF CURRENT A G R I C U L T U R A L C R E D I T C O N D I T I O N S , N I N T H FEDERAL RE S E R V E DISTRICT
TABLE 332.1
EXPECTED

FARM LOAN OEMAND AND R EPA Y M EN T C O N D IT IO N S
PER C EN T A G E OF BANKS R E P O R T IN G

E X P E C T E D DEMAND FO R FARM LOANS IN CURRENT
1
Q U A R T E R . COMPARED W IT H USU A L C O N D IT IO N S
1
DATE OF
|.
SU RVEY
| N O N - R E A L - E S T A T E LOANS
D tB T E X T E N S IO N
OR R E F IN A N C IN G
i
L
1 LOWER
SA M E__ H IG H E R ___
LOW ER
SAME
H IG H E R
i
77.
16.
1 97 2 —Q l . . . |
3.
85.
12.
7.
14. *
4.
83.
13.
2.
83.
- Q 2 ...I
4.
88.
7.
6.
87.
7.
- Q 3 ...I
- Q 4 ...I
69.
15.
65.
10.
16.
25.
i
1
4.
70.
69.
22.
8.
27.
1 9 7 3 - Q 1 ... |
-Cl2* . • |
76.
19.
5.
8.
16.
77.
—0 3 . • • j
14.
60.
81.
5.
15.
5.
44.
-Q *f. •• |
33.
51.
15.
8.
48 •
i
1
36.
50.
1 9 7 4 —Q l • • • |
59.
6.
4.
46.
24.
14.
- Q 2 ...I
10.
62.
27.
63.
9.
63.
66.
28.
28.
—Q 3 • • • 1
6.
53.
- Q 4 ...I
11.
35.
47.
42.
11.
1
1 9 7 5 —Q l . . . 4
—Q 2 . . . 1
- Q 3 ...I
- Q 4 ...|
1

20.
10.
7.
12.

51 .
49.
70.
72.

29.
41.
23.
16.

1 9 7 6 —Q l • • .1
- Q 2 ...I
- Q 3 ...I
- Q 4 ...I
i
1
1 97 7 —Q l • • .1
- Q 2 ...I
—Q 3 . •.1
- Q 4 ...I
i
1
1978—Q l . • . |
- 0 2 ...I
—Q 3 . . . |
- Q 4 ...I
i
1
1 97 9 —Q l • • • |
—Q 2 . . . |
- Q 3 ...I
1

4.
3.
9.
7.

70.
78.
65.
51 .

27.
1 9.
26.
42.

1.
3.
5.
1•

62.
75.
55.
29.

10.
7.
8.
3.

46.
46.
61 .
56.

44.
46.
31.
41.

1•
1.
5.
0.

21.
39.
41.
34.

79.
60.
54.
66.

7.
3.
4.
12.

59.
58.
69.
64.

34.
39.
27.
24.

2.
2.
10.
20.

47.
64.
76.
62.

51.
35.
14.

77.

20.
30.
34.

10.

76.
76.

14.
17.

73.

19.

3.
3.

3.




66.
63.

17.
8.
4.
10.

8.
8.

38.
44.
71.
65.

45.
48.
25.
25.
36.

22.
40.
71.

19.

1
1 A D V ERSE CHANGE
1
E X P E C T E D IN
| FA RM ERS* A B I L I T Y
1 TO R E P A Y D E B T S
_1I N T H E NEAR F U T U R E

|
I
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
|
1
1
1
1
1
1
1
1
1
1
1
|
1
1
I
1
1
ft
1
1
1
1

14.
8.
17.
5.
5.
3.
9.
6.
9.
24.
59.
56.
62.
63.
31.
20.
29.
34.
58 .
70.
73.
66 •
60.
58.
48.
33.
12.
20.

9.
15.
24.

FEDERAL RESERVE BA'Jft OF MINNEAPOLIS

20

S U R V E Y OF CURRENT A G R I C U L T U R A L C R E D I T C O N D I T I O N S , N I N T H F EDERAL RE S E R V E D I S T R I C T — F EDERAL R ESE R V E BANK OF M I N N E A P O L I S
T ABLE 333.1

AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY
LOAN/DEPOSIT RATIO IS—
DATE OF
SURVEY

AVERAGE
LOAN/DEPOSiT
RATIO
(PER CENT)

1
1
19 64-01... | *******
- Q 2 . . • | *444444
- 0 3 . . . |*******
-Q 4.• • | *******
1
1
1965-01...|*******
- 0 2 . . . |*******
—0 3 . • • 1 * * * * * * *
—Q 4 . • . 1 * * * * * * *
1
19 66-01...|*******
- 0 2 . . . |*******
- 0 3 . . . |*******
- Q 4 ...I*******
i
I
19 67-01...|*******
-Q 2.. • | *******
- 0 3 . . . |*******
- 0 4 . . . |*******
i
1
19 6 8 -Q 1 ...I*******
-02..•1 *******
- Q 3 ...I*******
-Q 4.• • |*******
1
1
1 9 6 9 —Q l . . . |
52.
—Q2. . . |
56.
-Q 3 ...I
58.
-Q 4 ...I
59.
i
1 9 7 0 —Q l • • • |
-0 2 ...1
-Q 3 ...I
-0 4 ...!
i

56.
58.
61.
59.

1971-01...1
-Q 2 ...I
-0 3 ...I
-Q 4.. . j

58.
59.
61.
60.




LOWER
HIGHER
THAN
DESIRABLE THAN
DESIRED
DESIRED
|
1
I
1
1
1
i
1
1
1
1
I
1
1
1
1
1
1
1
»
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
i
1
i
i
i
i
1
1
i
i
i
i

***
***
***
25 •

#**
*♦*
***
56.

***
***
***
21.

18 •
20 .
18.
16.

59.
65.
6 0.
62.

22.
15.
22.
22.

17.
20.
***
14.

70.
61.
***
69.

13 .
19.
***
17 .

16.
20.
17.
19.

67.
60.
63.
63.

17.
20.
20.
16 .

22 •
22.
11.
23.

65.
58.
62.
64.

13.
20.
27.
13.

33.
26.
16.
13.

60.
59.
6 4.
64.

15.
20.
23.

18.
15.

62.
53.
4 b.
61.

20.
33.
47.
31.

62.
60.
65.
6 7.

24.
24.

5.
8.
13.
16.

11.
17.

7.

23.
16.

NUMBER OF FARM LOAN REQUESTS REFERRED TO*
REFUSED OR I
IEXPECT PROBLEMS
REDUCED A |ACTIVELY|
IN MEETING
NONBANK AGENCIES
FARM LOAN (SEEKING | NORMAL FARM
CORRESPONDENT BANKS
REQUEST IN I NEW
| LOAN REQUESTS
| COMPARED WITH
I COMPARED WITH
PREVIOUS
| FARM
| IN CURRENT
NONE|
USUAL NUMBER
QUARTER DUE|
LOAN
(QUARTER OUE TO NONE I USUAL NUMBER
TO SHORT AGElACCOUNTSI AVAILABILITY
I ______________________
I ______________________
1
OF FUNDS
| OF FUNDS
1
i
5.
81.
5.
i
6.
76.
6.
1
8.
68.
8.
1
4.
70.
3.
1
t1
6.
72.
5.
1
4.
4.
67.
!
7.
71.
3.
1
3.
76.
2.
1
ii
3.
72.
5.
1
10.
6.
73.
1
1* * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
13.
56.
13.
1
ii
11.
61.
6.
1
14.
64.
8.
1
26.
62.
7.
1
5.
73.
1.
I
i1
5.
95.
4.
i
5.
65.
4.
i
55.
17.
1C.
i
6.
66.
2.
i
ii
4.
77.
1
1.
8.
70.
7.
1
18.
52.
11.
1
15.
45.
9.
1
ii
18.
47.
10.
i
23.
38.
18.
i
32.
32.
19.
i
22.
35.
i
7.
ii
14.
48.
6.
i
9.
56.
5.
i
9.
57.
5.
i
6.
63.
4.
i

____l
I
|
j
|
j
I1
(
j
|
|
I
|
|
|
j
|

_____ )LOW£R_ SAME HI GHER] _______ L U M E R . SAME HIGHER
444
444
444
444

444
14.
23.
20.

444
71.
68.
73.

444
15.
9.
7.

♦* *
444
444
444

444
12.
6.
14.

444
75.
82.
61.

44*
13.
10.
5.

444
**♦
444
444

16.
10.
7.
15.

83.
83.
85.
80.

1.
7.
8.
5.

444
444
44 4
444

7.
6.
7.
7.

72.
66.
81.
85.

20.
28.
12.
8.

444
444
***
444

10.
5.
444
11.

83.
90.
*44
62.

7.
5.
444
7.

444
444
444
444

11.
6.
444
9.

79.
84.
44 4
87.

10.
10.
44*
4.

1
|
|
j
1
|
j
|
j
1
1
|
1
1
1
i

***
444
444
444

6.
9.
5.
3.

91.
83.
b4.
91.

3.
8.
11.

444
444
444
444

9.
3.
5.
10.

86 .
86 .
92.

5*
11*
3*
2.

444
444
444
444

13.
17.
5.
10.

82.
76.
88.
84 .

5.

6.
3.

83.
88.

7.
6.

444
444
444
444

4.
9.

69.

11.
9.
7.

88.

3*

16.

5.
6.

11.

4.
4.

79.
47.
61.
53.

444

43.
32.
37.

24.

41.
71.

11.

59.

10.

1
1
i
1
i

37.
36.
43.
43.

4.
5.
2.
3.

11.
11.
12.
10.

1
I
1
1

42.
44.

2.
3.
1.
6.

16*
14.
9.

43.
47.

6.

6.
7.

68.

83f

3.
4.

21.

28.

4.
2.
3.

55.

3.

23.

2.

50.
47 .

7.
8.
8.

24.
20.

1.
1.

30.

3.

64.
65.
66.
58.

22.

2.
1.
I.
2.

61.
66.
62.
65.

46.
52.

45.
52.
45.

5.
8.
4.
3.

20.

28.
30.

6.
6*

3.

21

S U R V E Y OF CURR E N T A G R I C U L T U R A L C R E D I T C O N D I T I O N S , N I N T H F E D E R A L R ESERVE D I S T R I C T — F E D E R A L R E S E R V E Bn.iK. OF M I N N E A P O L I S

TABLE 333.1
AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY

DATE OF
SURVEY

1
1
1 AVERAGE
|LOAN/DEPOSlT
RATIO
I
i (PER CENT)
i
1
\

1
o
W
•
•
•

1972-Q1...I
-Q2...I
- Q 4 . •• |
i
1
1973-01...1
-Q2...I
-Q3...I
-04...1
i
I
19 74 -0 1. ..|
-Q2...I
-03...1
—Q 4 . . . |
i
1
1975— Q l . . «J
-02...1
-Q3...I
-Q4...|
i
1
1976— Q l •..1
-Q2...I
-03...1
—Q 4 . • • f
i
1
1977-01...1
-02...1
—Q 3 . .•1
-04...|
|
1
1978-01...1
-Q2...I
-03...!
—Q 4 . • • |
|
1
1979-01...1
-02...1
-03...»
I

58.
58.
60.
59.
58.
58.
61.
61.
61.
63.
63.
65.
64.
63.
63.
63.
63.
63.
65.
66.
64 •
63.
66.
68.
67.
67.
70.
71.
70.
71.
73.




IREFUSEO OR 1
IEXPECT PROBLEMS|
NUMBER OF FARM LOAN REQUESTS REFERRED TO—
1
IN MEETING
1 REDUCED A 1ACTIVELY|
i LOAN/DEPOSlT RATIO IS—
i
NONttANK AGENCIES
FARM LOAN 1SEEKING 1 NORMAL FARM
I CORRESPONDENT BANKS
i
IRE DUES 1 IN 1 NEW
1 LOAN REQUESTS l_
i
1 FARM
HIGHER I PREVIOUS
1 IN CURRENT
i COMPARED WITH
i
i COMPARED WITH
1 LOWER
1QUARTER DUE TO INONEI USUAL NUMBER
NONE | USUAL NUMBER
|QUARTER DUE|
LOAN
DESIRABLE THAN
i THAN
|DESIRED
DESIREDITO SHORTAGE IACCOUNTS 1 AVAILABILITY
1.
1
1.
SAME HIGHER
OF FUNDS___ J _____ LLQH£R_SAM£_ HIGHEST
I
1 _0£_EUNDS__J
I
1
1
1
66.
5.
4.
6.
29.
60.
67.
I 49.
42.
13.
I
2.
2.
1.
1 28.
61.
8.
5.
1.
5.
69.
30.
60.
5.
3.
42.
12.
!
1 51.
1 28.
34.
3.
2.
43.
62.
2.
68.
| 50.
1.
6.
1.
71.
13.
|
i 17.
2.
4.
56.
3.
4.
41.
71.
2.
72.
2.
37.
6.
|
1 52.
1 23.
i
k
k
1
1
58.
2.
44.
5.
2.
75.
2.
2.
7.
35.
62.
6.
!
1 47.
1 32.
58.,
5.
3.
44.
7.
2.
7.
I
2.
36.
5.
78.
58.
1 47.
1 36.
3.
61.
7.
34.
2.
5.
2.
49.
4.
58.
15.
|
71.
! 42.
1 26.
54.
4 .
5.
9.
8.
5.
45.
6.
56.
13.
|
62.
37.
1 45.
! 29.
i
1
1
I
49.
3.
45.
6.
69.
43.
15.
|
5.
5.
3.
65.
2.
1 51.
1 20.
4.
4.
56.
2.
4.
39.
59.
76.
4.
I 44.
6.
46.
11*
1
1 29.
46.
5.
64.
6.
20.
I 38.
2 8.
27.
|
18 .
48.
9.
3.
60.
1 13.
19.
35.
48 .
7.
5*.
39.
|
30.
7.
27.
6.
47.
32.
1.
1 41.
1
i
i
1
1
24.
51.
14.
I 4C.
24.
34.
|
30.
6.
8.
27.
46.
1.
56.
1 10.
40.
14.
40.
27♦
6.
6.
31.
43.
2.
13.
70.
19.
I
1 47.
1 11.
11.
44.
54.
6.
2.
4.
74.
3.
32.
11.
51.
! 47.
6.
21.
|
1
9.
54.
I 43.
35.
6.
49.
2•
8.
61.
4.
2.
6*.
18.
|
1 18 •
»
i
1
1
4.
53.
16.
49.
6.
28.
3.
16.
|
4.
5.
62.
1 42.
67.
1 17.
60.
59.
13.
| 38.
3.
5.
26.
1.
67.
63.
3.
16.
|
7.
1 17.
C.
58.
10.
30.
9.
1.
46.
12 •
54.
10.
26.
t
I 42.
6 2.
1 12 .
14.
4.
57.
I 38.
49.
27.
2.
55.
12.
8.
10.
26.
|
55.
1 19.
i
i
|
I
1
50.
27.
22.
50.
6.
1.
64.
10.
54.
1 40.
3.
6.
18.
!
i 17.
<♦4.
C.
33.
44.
9.
23.
7.
7.
56.
I 45.
2.
20.
|
61.
i 20.
49.
13.
23.
c.
48.
28.
1♦
7.
29.
|
58.
12.
1 37.
55.
i 16.
25.
52.
0.
54.
8.
22.
1.
8.
58.
5 3.
35.
|
11 .
1 37.
i 12.
1
t
1
7.
19.
0.
50.
31.
7.
4.
51.
61.
I 38.
51.
34.
|
10.
1 15.
23.
2.
48.
26.
9.
49.
7.
! 43.
2.
66.
12.
58.
31.
1
1 12.
26.
0.
58.
16.
7.
54.
2.
52.
14.
17.
1 39.
54.
38.
|
8•
1
15.
63.
2.
2.
50.
10.
21.
19 .
49.
19.
1 37.
*8.
*6.
1
6.
I
ft
i
I
1
2.
62.
0.
55.
8.
23.
13.
19.
45.
13.
1 37.
47.
I
50.
3.
1
20.
64.
14.
2.
59.
12.
2.
42.
23.
I 28.
46.
|
27.
3.
51.
1
60.
17.
23.
0.
49.
17.
1.
32.
34.
26.
40.
58.
|
1 34.
2.
1
J L
-JL.
-1

n

S U R V E Y OF CURR E N T A G R I C U L T U R A L C R E D I T C O N D I T I O N S . N I N T H F E DERAL RESERVE D I S T R I C T — FE D E R A L R E S E R V E BANK OF M I N N E A P O L I S
T A B L E 334.1
INTEREST R ATES ON FARM LO A N S

COMMON INTEREST RATES CHARGED ON FARM LOANS!
TREND IN INTEREST RATES 4PERCENT AGE OF
(AVERAGE, PER CENT)
1
INTERMEDIATE -TERM
SHORT-TERM
r
LONG-TERM
LOANS
NON—RE A L—ESTATE LOANS
I NON-REAL-ESTATE LOANS
REAL ESTATE
1
____
UPDOWN­ LITTLE
INTERMEDIATESHORTLOANS
I DOWN- LITTLE
UP­
WARD.
WARD J W A R D __ CHANGE,
. _ ___ TERM __
1 WARD. CHANGE
ItRM
1
*♦*
**** *
*****
***
*****
84.
10.
I
6.
*****
***
***
♦♦♦
*****
*****
84.
15.
1
1*
*****
*****
*****
***
***
86.
12.
1
2.
***
*****
***
***
*****
*****
***
92.
5.
1
3•
i
1
*****
**♦
***
*****
***
*****
87.
12.
1
1*
*****
*****
*****
***
***
91.
9.
1
o.
**♦
***
*****
***
***
*****
*****
87.
12.
i
I.
*****
***
***
*****
***
*****
84.
15.
I
1•
i
1
*****
*****
***
***
*****
***
68 •
32.
I
o.
*****
*****
*****
***
***
78.
22.
i
o.
*♦*
*****
*****
*****
***
*♦*
***
***
1 ***
***
*****
*****
***
***
***
*****
17.
83.
1
o.
1
1
*****
*****
***
***
*****
74.
26.
1
o.
***
*****
*****
***
*****
***
♦
68.
40.
1
2.
* ****
*****
*****
***
* * *
77.
18.
I
5.
**♦
*****
*****
*****
** *
***
76.
24.
1
1.
***
i
1
*****
*****
*****
***
***
♦
39.
61.
1
o.
*****
*****
***
*****
***
! 0.
43.
57.
*****
*****
*****
** *
***
16.
1
o.
84.
*****
*****
***
*****
* **
54.
***
45.
I
1.
1
1
***
* * *
7.40
7.15
55.
44.
1
1*
7.36
7.44
***
7.66
***
1
o.
12.
88.
7.62
**♦
***
* * *
7.83
8.00
! o.
8.
92.
***
7.90
8.00
***
***
8.07
1
o.
26.
74.
***
8.02
1
8.15
* **
8.19
***
I
o.
39.
61 .
***
8.09.
***
* * *
8.42
8.50
1
o.
68.
-02...|
32.
***
8.38
***
***
8.46
8.49
39.
1
1.
61.
***
-03. ..|
8.38
***
***
8.45
8.56
-04... |
1
1.
81.
18.
***
8.42
1
1
***
***
8.35
8. A 5
1 14.
4.
***
82.
1971-01...|
8.37
***
***
***
8.06
8.28
! 46.
-02...|
53.
1.
8.19
***
***
8*27
8.00
1 17.
79.
4.
♦**
-0 3 * ••|
8.16
***
***
8.23
8.06
1
8.
0.
—04.•• j
92.
***
8.16
-JL
1____
----------1___ _
tMOST
I
DATE OF
1 _
SURVEY
|
I
1
1
1
1964-01... |
-02...|
—03..•|
-Q4...|
i
1
1965-01...|
-Q2...I
-Q3...I
-04...|
I
1
1966—Ql...|
-02...|
-03...|
—04.••|
i
1
1967-01...|
-02...|
-03...1
-Q4... |
i
1
1968-01...1
-G2...I
-Q3...I
-04... |
i
1
1969-01...1
—Q2. •• |
-Q3...I
-Q4...I
1
1970—Ql ••• |



BANKS REPORTING)
|
REAL ESTATE
LOANS
!
1
I DOWN- LITT l E
UP­
WARD _
CHANGE
.1. WARD
1
|
13.
6.
81.
j
10.
87.
3.
89.
10.
I.
1
|i
9.
89.
2.
1
1i
|1
88.
12.
c.
86 •
11.
3.
11
|1
12.
85.
3.
j1
94.
5.
1*
|1
i
1
|!
66.
34.
o.
26.
74.
o.
1I
***
***
|1 *♦*
j1
90.
9.
l.
1
18.
80.
2.
11
|1
51.
43.
6.
19.
76.
11 5.
66.
33.
1.
11
i
11
|1 1 •
19.
60.
|1 o.
24.
76.
|1 o.
87.
13.
1
0.
53.
47.

1i
11
1
1
1
1
1

1

I

1
1

0.
0.
0.
0.
1.
2

.

1.

2.

I 10.
|1 44.
11 21.
11
7.
1

53.

8.

9.
26.

34.
39.

47.
92.
91.
74.

56.
75.

65.
59.
43.
23.

82.
53.

3.

89.

4.

74.

8.
5.

23

S URV E Y OF C U R R E N T A G R I C U L T U R A L C R E D I T CON D I T I O N S , N I N T H FEDERAL R E S E R V E D I S T R I C T — F E D E R A L R ESERVE BANK OF M I N N E A P O L I S
T ABLE 334.1

INTEREST RATES ON FARM LOANS

1
o
*
.
•
•

IMOST C O MM O N INTER E S T R ATES C H A R G E D ON F ARM LOANSl
TREND IN I N TEREST RATES (PERCENTAGE OF
(AVERAGE. PER CENT)
i
1
I N T E RMEDIATE -TERM
DATE OF
1
SHOR T - T E R M
1
LONG-TERM
N O N - R E A L - E S T A T E LOANS
LOANS
SURVEY
|
| N U N - R E A L - E S T A T E LOA N S
REAL ESTATE
1
1
DOWN­
| DOWNLITTLE
LITTLE
UP—
INTERMEDIATELOANS
UP­
SHORT1
WARD
CHANGE
WARD__
CHANGE
WA R D
___________ T E R M
______
_J _WARD
T ERM
1
i
***
I 30.
70.
0.
8.09
8.23
7 .96
1972-Q1...I
*♦*
♦**
***
74.
0.
8. 1 3
7. 8 7
I 26.
8.02
— Q 2 ... I
*♦*
***
***
7.90
83.
2.
8.13
8.03
I 15.
-Q3...I
♦ **
**♦
♦**
89.
8.
8.15
7.91
8.02
1
4.
I
1
i
***
9.
7. 9 2
87.
8.06
8.20
1
4.
1973— Q l . • • |
*♦*
***
76.
24.
7.95
8.08
8. 2 0
1
o.
-Q2...I
♦ **
***
*♦*
8.05
8. 2 6
60.
39.
8.18
-Q3...I
1
1*
***
** *
♦**
8. 6 7
8 .43
28.
8.55
72.
—Q 4 . • • j
i
o.
1
1
♦**
♦**
58.
8.74
8.45
1974-01...|
8.56
42.
1
o.
***
♦**
**♦
8.43
81.
18.
8 .65
8.53
1
1•
-Q2...I
♦ **
41.
59.
9.05
8 .70
1
o.
8.82
-Q3...I
***
***
*♦*
8.91
9.04
63.
9.33
37.
i
o.
—Q 4 ...|
i
1
I
1
♦**
*♦*
***
9.00
9.11
64.
34.
9.35
1975— Q l . • • |
1
2.
***
***
9 .25
15.
6 .86
71.
1 15.
9.03
-Q2...I
***
***
9 .23
8.88
71.
9.00
11.
1 17.
-Q3...I
***
8.99
6.98
16.
62.
—Q 4 . . . j
9.27
1
2.
lI
1
***
**♦
*♦*
10.
9.G7
86.
9.05
9.27
1
4.
1976— Q l . . . |
***
***
*♦*
78.
9.08
9.09
9.30
11.
1 11.
-Q2...I
***
♦**
***
69.
28.
9.17
9.15
9.45
1
4.
-Q3...I
***
***
***
9.17
10.
88.
9.43
—Q4. •• |
9.16
1
3•
i
1
1
***
***
**■*
6.
80.
9.15
9.43
1 14.
9.15
19 77— Q l . • . I
***
*♦*
**♦
6.
82.
9.17
9.21
9.45
1 12.
-Q2...I
*♦*
♦♦♦
88.
7.
9.53
9.2 1
1
5.
9.17
-Q3...I
***
***
*♦*
12.
9.22
87.
9.52
9.18
1
1.
-Q4...|
i
i
1
1
***
***
76.
22.
9.21
1
2.
9.22
9.47
1978— Q l . • . I
***
***
***
45.
55.
9.50
9. 2 3
1
o.
9.20
-Q2...I
**♦
***
♦**
32.
68.
9.47
I
o.
9.71
9.38
-Q3...I
*♦*
***
***
20.
80.
9.62
9.81
1
o.
-Q4...|
9.51

i1

1 97 9 — Q l . .. |
-Q2...I
-Q3...I
1

i

10.24
10.39
10.78




10.67
10.82
11.21

10.06
10.24
10.55

1

o.

i
__ L

o.

1

o•

3.
16.
12.

97.
64.
88.

**♦
♦**
***

***
♦**
**♦

***
***

Bi

REAL ESTATE
1
LOANS
1
1
UP—
i DOWN- LITTLE
i HARD
CHANGE___ KAftD.
1
1.
81.
1 17.
70.
1
1 29.
79.
3.
1 18
4.
4.
92.
1
1
1
91.
5.
4.
1
83.
16.
0.
1
30.
70.
1.
I
28.
0.
72.
1
i
1
39.
60.
1.
1
14.
85.
1.
1
47.
53.
c.
1
59.
41.
c.
1
1

.

.

»

1
1
1
1
1
1
1
1
1
i1
1
1
1
1

i
1
1
1
1
1
1
i
i
i
i

I.
II.
8

.

1.

.

2
4.
3.
3.

74.

25.

81.

8

85.
82.

7.
16

90.
85.
77.
89.

.
.

8

.

10.
20.

8

.

2.
4.

i.

84.
85.
90.
94.

5.

83.

C.
0.

12.
28.

C.

72.
45.
35.

55.
65.

0.
1.
c.

18.
31.
30.

66

I* .

11.
Hm

6

.

5.

82.

.

70.

S U R V E Y OF CURRENT A G R I C U L T U R A L C R E D I T C O N D I T l U N S t N I N T H FE D E R A L R E S E R V E D I S T R I C T — FEDE R A L RESERVE BAN K OF M I N N E A P O L I S
T A B L E 335.1
FARM R E A L E S T A T E L E N D IN G E X P E R IE N C E
P E R C E N T A G E O F B A N K S R E P O R T IN G
DEMAND FOR FARM R E A L E S T A T E L U A N S t
AS CO M PARED W IT H USUA L C O N D IT IO N S
SURVEY

1
1
1

( D A IE

CURRENT
OF S U R V E Y )

1
1
1
___ \

1964- 0 1 . . . I
~02...|
-03...I
—0 4 . • • |

I
1965- 01.
-Q2...|
-03...|
- 0 4 ...|

I
19 66— Q 1...|
- 0 2 . ..I
-03...|
-04...|
I
19670 1 ...I
- 0 2 ...!
- 0 3 ...|

—Q4.••|
I
1968- 0 1 . . . I
-02...I
-03...|
-04...|
I
1969- 0 1 . . . I
-0 2 ...I
-03...|
-04...|
I
1970- Q l . • . I
-0 2 ...I
-03...|
-04...|
I
1971-Q l .• • |

-Q 2 ...I
-03...|
—04.%.|

***
12.
15.
27.

*♦*
50.
55.
47.

*♦ *
38.
30.
26.

8.
5.
9.

54.
50.
70.
65.

36.
45.
21.
24.

5.
***
17.

66.
6<f •
***
62.

26.
31.
♦ **
21.

38.
24.
23.
24.

53.
62 •
69.
64 •

9.
14.
8.
12.

18.

68.
65.
65.
63 •

14.
25.
12.
10.

71.

5.
10.
6.
10.

11.
8.

10.

23.
27.
24.
32.
38.

10.

58.
56.
80.

47.

47.

46.

49.
48.

49.
40.

35.

30.
14.
18.




39.

59.
60 •
77.

73.

6.
12.
11.
6.
6.
9.
10.
8.

1
1
l
1
t1
1
1
1
I
i1
»
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
i
1
1
1
1
1
i1
1
1
1
I
1
1
i
i
i
i

E X P E C T E D D U R IN G THE
C U R R tN T Q UARTER
LUW ER___SAM E___ H I GHER___
11.
7.
7.
12.

68.
74.
69.
64.

21.
19.
24.
24.

6.
3.
9.
6.

65.
60 .
77.
77.

29.
37.
14.
17.

5.
3.
***
12.

71.
81.
***
73.

24.
16.
***
15.

27.
15.
16.
15.

68.
77.
79.
82.

5.
8.
5.
3.

17.
10.
23.
21 •

71.
75.
72.
71.

12.
15.
5.
8.

22.
28.
38.
41.

74.
67.
58.
53.

4.
5.
4.
6.

38.
41.
35.
33.

56.
53.
61.
63.

7.
5.
4.
4.

25.
17.
13.
15.

69.
75.
80.
77.

6.
8.
7.
8.

S URV E Y OF CURRENT A G R I C U L T U R A L C R E D I T C O N D I T I O N S , N I N T H F E O E R A L RE S E R V E D I S T R I C T — FEDERAL R ESE R V E BANK OF M I N N E A P O L I S
T A BLE 335.1

FARM REAL ESTATE LENDING EXPERIENCE
PERCENTAGE OF BANKS REPORTING
DEMAND FOR FARM REAL ESTATE LOANS,
AS COMPARED WITH USUAL CONDITIONS
SU RVEY

1
1
|_

(D A T E
LOWER

______________ l
i
1 9 7 2 - Q 1 ...1
- Q 2 ...1
- 0 3 ...I
- 0 4 ...|
■
1
1 9 7 3 - 0 1 ... 1
- 0 2 ...I
- Q 3 ...|
- Q 4 ...|
i
1
1 9 7 4 - 0 1 ...1
- 0 2 ...1
- 0 3 ...I
—Q 4 . • • |
|

CURRENT
OF S U R V E Y )
SAME

H IG H E R

E X P E C T E D D U R IN G THE
C U RR EN T Q UARTER
LOW ER

SAME

H IG H E R

12.
8.
12.
10.

81.
78.
76.
80.

6.
14.
12.
10.

11.
4.
9.
10.

85.
88.
86.
84.

4.
8.
5.
6.

10.
4.
7.
13.

80.
77.
80.
74.

10.
19.
14.
13.

8.
6.
7.
15.

86.
83.
87.
74.

6.
11.
7.
11.

2u.
13.
24.
25.

74.
69.
66.
65.

7.
18.
10.
10.

21.
14.
18.
24.

7o.
76.
77.
67.

3.
10.
5.
10.

1 9 7 5 —Q l . • • I
- 0 2 ... 1
- Q 3 ...1
- 0 4 ...|
i

26.
27.
23.
17.

58 •
55.
64.
73.

16.
18.
14.
10.

25.
20.
17.
15.

59.
63.
74.
74.

16.
18.

1 9 7 6 —Q l . . . 1
- 0 2 ... 1
- 0 3 ...I
- 0 4 ...|
1

22.
10.
18.
15.

67.
71.
66.
70.

11.
19.
15.
15.

13.
7.
14.
14.

75.
81.
72.
68.

12.
12.
14.
18.

1 9 7 7 - 0 1 ...»
- 0 2 ...1
- 0 3 ...|
—Q 4 . . . |
i
1
1 9 7 8 - 0 1 ...1
- 0 2 ...1
- Q 3 ...I
- 0 4 ...}
i

16.
14.
19.
15.

65.
56.
62.

19.
31.
25.
23.

13.
14.
17.
13.

60.
56.
60.
66 .

26.
30.
23.
21.

20.
19.
10.
13.

56.
63.
71.
73.

24.
18.
1 9.
14.

16.
17.
11.
10.

56.
72.
77.
78.

26.
12.
12.
12.

19.
15.
15.

69.
82.
76.

12.

18.
13.
11.

74.
78.
83.

8.
6.

9.
11.

1

1

1 979—U l •••1
- Q 2 ...1
- Q 3 ...I

___________ L.




55.

3.
9.

8.

S U R V E Y OF CURRENT A G R I C U L T U R A L C R E D I T C O N D I T I O N S * N I N T H FE D E R A L RESE R V E D I S T R I C T — F E D E R A L R E S E R V E BANK O F M I N N E A P O L I S
T A B L E 336*1

FARMERS• EARNINGS AND*SPENDING, COMPARED WITH PREVIOUS YEAR
PERCENTAGE OF faANKS REPORTING
1
I
1
1
_______
1
1
1 9 6 4 - Q 1 ...I
- 0 2 * ..|
• 0 3 ... 1
- Q 4 ...|
I
1

DATE OF
SU RVEY

E A R N IN G S
C U RRENT
LOW ER

(D A T E
SAM E

OF

B A N K S 1 FARM

UF S U R V E Y )
H IG H E R

CUSTOM ERS

EXPEC TED
J _____LOW ER

IN

S P E N D IN G

C U R R E N T Q U A R T ER
SAME

.. H IG H ER

C U R R EN T
LUMER

(D A T E
SAME

BY

FA RM ERS FOR

UF S U R V E Y )
H IG H E R r __

A LL

EXPECTED
LOWER.

IT E M S
IN C U RRENT

Q UARTER

SA M E. - H IG H E R _____

54.
66.
76.
66.

1 6.
16.
23.
21.

30.
18.
1.
13.

45.
58.
63.
65.

42.
38.
33.
25.

13.
4.
4.
10.

♦♦♦
27.
42.
37.

***
59.
49.
50.

14.
8.
13.

**♦
32.
44.
50.

***
56.
43.
37.

***
12.
13.
13.

1 9 6 $ - 0 1 ...1
• 0 2 ...1
• 0 3 ... | »
• Q A ...I
«
1
1 9 6 6 - 0 1 ...|
• 0 2 ... |
- 0 3 ...|
• 0 4 ...|
1

74.
59.
18.
15.

21.
29.
27.
19.

5.
1 2.
55.
71.

52.
35.
7.
13.

40.
48.
33.
16.

8•
17.
60.
71.

44.
50.
24.
11.

46.
40.
52.
50.

10.
10.
24.
39.

47.
44.
13.
13.

43.
46 •
56.
40.

10.
10.
31.
47.

17.
7.

67.
77.

10.
2.

26.
26.

7.

16.
16.
***
18.

75.

1.

23.

64.
72.
***
76.

13.
7.
**♦
3.

47.
59.
***
60.

40.
34.
*♦ *
37.

13.
2.
***
10.

48.
57.
*♦ *
42.

39.
41.
***
48.

1 9 6 7 - 0 1 ...1
- Q 2 ...I
—0 3 . • • f
• 0 4 ...}
i1
1 9 6 8 - 0 1 .. . I
• 0 2 ...|
• 0 3 ...|
• 0 4 ...|
|

14.
A1 .
32.
29.

1 7.
36.
53.
34.

69.
23.
1 4.
37.

12.
39.
16.
43.

51.
49.
54.
43.

37.
12.
30.
14.

8.
22.
14.
17.

56.
56.
62.
59.

36.
22.
24.
24.

8.
19.
12.
15.

64.
58.
61.
65.

28.
23.
27.
20.

55.
46.
28.
29.

29.
41.
53.
39.

16.
13.
19.
32.

41.
26.
26.
26.

54.
64 •
55.
46.

5.
10.
19.
28.

22.
30.
12.
16.

69.
55.
68.
65.

19.
15.
20.
19.

26.
27.
13.
18.

63.
56.
71.
62 •

11.
17.
16.
20.

1 9 6 9 - 0 1 ...1
• 0 2 ...I
• 0 3 ...}
• 0 4 ...|
i

16.
17.
12.
13.

95.
94.
3C.
34.

39.
39.
58.
53.

12.
11.
14.
11.

69.
60.
39.
45.

19.
29.
47.
44.

12.
16.
14.
16.

67.
63.
66.
64.

21.
21.
20,
18.

6.
11.
18.
17.

76.
65.
5b.
62.

18.
24.
24.
21.

1 9 7 0 - 0 1 ...1
• 0 2 ...1
• 0 3 ...}
• 0 4 ... |
i

8.
5.
15.
35.

32.
34.
64.
48.

60.
6G»
21.
18.

7.
9.
15.
27.

59.
56.
60.
56.

35.
35.
25.
16.

13.
23.
19.
27.

67.
63.
58.
64.

20.
15.
23.
9.

16.
16.
17.
28.

64.
66.
66 .
61.

19.

1 9 7 1 - 0 1 .. . |
• 0 2 ...I
• 0 3 ...|
• 0 4 .. . |
________________1___

52.
33.
15.
13.

33.
55.
70.
50.

15.
13.
15.
38.

51 .
24.
4.
16.

42.
66.
62.
45.

8.
10.
33.
39.

36.
26.

54.
58.
65.

10.

42.
23.
7.

58.




11.
10.

70.

14.
24.
19.

9.

51.
70.
67.

15.

18.

11.
8.

19.
23.

23.

27

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS* NINTH FEDERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 336.1
FARMERS* EARNINGS AND SPENDING. COMPARED WI TH PREVIOUS YEAR
PERCENTAGE OF BANKS REPORTING
EARNINGS OF BANKS* FARM CUSTOMERS

SPENDING BY FARMERS FOR ALL ITEMS

DATE OF
SU RVEY

|
1
1

C U RR EN T
LOWER

(D A T E
SAME

OF S U R V E Y )
H IG H E R

1 97 2 —Q l . • • I
- 0 2 ...1
- 0 3 ...|
- 0 4 ...|
I

17.
9.
4.
1.

39.
42.
41.
21.

45.
50.
54.
79.

1 9 7 3 —Q l . • • |
- Q 2 ...I
- 0 3 ...|
—0 4 . • • j
i

2.
1.
1.
0.

12.
6.
20.
3.

86.
94.
79.
97.

1 9 7 4 —Q l . • • |
—0 2 « « . I
- 0 3 ...1
- 0 4 ...|
1

1.
11.
59.
62.

7.
19.
21.
20.

93.
70.
20.
17.

1 9 7 5 - 0 1 ...1
- 0 2 ...|
- 0 3 ...I
—Q 4 . . . |
|

67.
81.
56.
19.

24.
16.
34.
52.

9.
3.
10.
29.

1 9 7 6 —Q
-0
-0
- 0

l. ••|
2 ...!
3 ...I
4 ...|
j

47.
41.
51.
80.

34.
48.
37.
13.

19.
11.
12.
7.

1 9 7 7 - 0 1 ...I
- 0 2 ...|
- Q 3 ...I
—0 4 . . . |

86.
78.
67.
56.

11.
20.
27.
26.

3.
1.
5.
18.

1 9 7 8 - 0 1 ...|
- 0 2 ...|
- 0 3 ...I
- 0 4 ...!
i

4to.
36.
5.
6.

28.
26.
25.
26.

26.
36.
70.
68.

3.
3.
6.

14.
19.
26.

63.
76.
69.

»

1

19 79— Q 1 . . . |
- Q 2 ...I
- Q 3 ...I
_______________ 1___




1 E X P E C T E D I N C U RR EN T U U A R T ER
1
LOWER _ SAME
H IG H E R
|
i
9.
61.
30.
i
5.
63.
32.
1
4.
49.
47.
i
24.
1.
75.
i
1
1
0.
21.
79.
1
1.
16.
83.
i
2.
26.
72.
i
2.
5.
93.
1
1
1
3.
18.
78.
i
25.
36.
39.
i
66 .
24.
10.
i
19.
68.
13.
i
1
1
70.
21.
10.
1
78.
19.
3.
1
33.
52.
15.
1
50.
20.
30.
I
1
1
43.
38.
19.
1
60 •
31.
10.
1
55.
31.
14.
1
79.
15.
7.
1
1
1
78.
6.
17.
i
35.
61.
4.
i
54.
24.
22.
i
24.
48.
28.
i
i
1
41 •
36.
23.
i
38.
40.
21.
i
4.
75.
22.
i
8.
25.
67.
i
1
1
29.
71.
1.
i
66 •
5•
31 .
i
60.
6.
34.
i

_L

C URREN T
LOWER

(D A T E
SAME

OF S U R V E Y )
H IG H E R

EXPEC TED

IN C U R R EN T QUARTER

LOWER

SAME

H IG H E R

10.
6.
8.
4.

69.
75.
74.
69.

22.
19.
18.
27.

12.
6.
6.
1.

72.
74.
75.
60.

16.
18.
19.
38.

1.
0.
1.
0.

52.
39.
46.
31.

47.
61.
53.
69.

2.
0.
1.
1.

53.
43.
48.
23.

45.
58.
51.
76.

2.
2.
11.
27.

24.
31.
3b.
42.

74.
66.
51.
31.

3.
4.
19.
38.

33.
26.
36.
31.

64.
69.
45.
31.

42.
55.
31.
20.

35.
28.
37.
57.

23.
17.
31.
23.

50.
52.
29.
18.

28.
26.
40.
56.

22.
22.
31.
26.

25.
25.
41.
51.

60 .
59.
43.
37.

15.
16.
15.
12.

29.
24.
48.
63.

58.
59.
39.
29.

13.
17.
12.
8.

73.
68.
45.
46 •

20.
27.
41.
40.

7.
5.
1 4.
15.

75.
63.
44.
50.

16.
31.
44.
35.

10.
7.
13.
15.

51.
36.
2.
7.

39.
48.
56.
55.

10.
16.
42.
38.

55.
31.
2.
7.

32.
48.
53.
50.

13.
21.
45.
42.

6.
9.
5.

50.
46.
43.

45.
45.
52.

5.
5.
5.

52.
47.
41 •

43.
48.
54.

A G R I C U L T U R A L FINANCE D A T A B O O K — Q U A R T E R L Y SERIES

340

K A N SA S

JULY 1979

C IT Y

3 4 1 .1

C U RREN T

FARM N O N - R E A L - E S T A T E

3 4 3 .1

A VER A G E L O A N / D E P O S IT R A T IO AND OTHER C O N D IT IO N S THAT R E F L E C T
R E L A T IV E C P E D IT A V A I L A B I L I T Y ........................................................................................ 30

3 4 4 .1

MOST COMMON IN T E R E S T

3 4 5 .1

FARM R E A L

EST AT E

PA TES

L E N D IN G

E X P E R I E N C E .......................................... 29

CHARGED ON FARM L O A N S ........................................31

V A L U E S .................................................................................................... 32

THE F E D E R A L R E S E R V E BANK OF KA N SA S C IT Y IM P L E M E N T E D A Q U A R TER LY
A G R IC U L T U R A L C R E D IT C O N D IT IO N S S U R V E Y ON JA N U A R Y 1* 1 9 7 6 .
AN I N I T I A L
SA M PLE OF 196 BANKS WAS S E L E C T E D P R IM A R IL Y FROM AMONG THE 9 0 2 BANKS IN THE
TEN TH F E D E R A L R E S E R V E D IS T R IC T AT W HICH FARM LOANS C O M P R IS E D 50 PE R CENT OR
MORE OF TOTAL L O A N S .
THE S A M P L IN G PRO C ED U RE R E S U L T E D IN R E P R E S E N T A T IO N OF
ALL G E O G R A PH IC R E G IO N S AND FA R M IN G A R E A S IN THE D I S T R I C T .
AS OF A P R IL 1 9 7 7 , THE SA M PLE C O N S IS T E D OF 188 B A N K S .
V IR T U A L L Y A LL
S U R V E Y E D BA N KS R ESPO N D EACH Q U A R T E R .
FO LLO W -U P C A L L S TO R ES P O N D E N T S ARE
MADE TO H E L P A S S U R E A H IG H R E S P O N S E R A T E .
AN E X T E N S IV E D IS C U S S IO N OF S U R V E Y R E S U L T S I S P U B L IS H E D Q U A R T E R LY
THE F I N A N C IA L L E T T E R , WHICH MAY BE O B T A IN E D FROM T H E R E S E A R C H D I V I S I O N ,
F E D E R A L R E S E R V E BANK OF K A N SA S C I T Y , KA N SAS C I T Y , M IS S O U R I, 6 4 1 9 8 .




IN

28

29

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONSf TENTH FEDERAL RESERVE D ISTRICT— FEDERAL RESERVE BANK OF KANSAS CITY
TABLE 341.1
CURRENT FARM NON-REAL-ESTAIL LENDING EXPERIENCE. COMPARED WITH A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DATE OF
SU RVEY

1
I
1

1
1 9 7 6 - 0 1 .• • 1
- 0 2 ...|
—0 3 . . . |
—Q 4 . . . 1
i
1
1 9 7 7 - 0 1 ...|
- Q 2 ...I
- 0 3 ...I
- 0 4 ...|
i
1
1 9 7 8 —Q l . . . I
- 0 2 ...I
- 0 3 ...1
- 0 4 ...|
i
1
197 9 —Q l . • . |
- 0 2 ...I
- 0 3 ...|

DEMAND FOR LOA NS
LOWER

SAME

H IG H E R

FUND A V A I L A B I L I T Y
LOWER

SAME

H IG H E R

LOAN REPA Y M EN T
LOWER

SAME

RATE

H IG H E R

13.
4.
6.
6.

34.
*0 .
35.
21.

53.
55.
60.
72.

14.
19.
17.
39.

49.
51.
50.
44.

37.
30.
33.
17.

34.
31.
26.
56.

51.
60.
67.
43.

15.
9.
7.
1.

5.
3.
6.
5.

26.
29.
28.
33.

70.
67.
66.
62.

35.
38.
41.
37.

43.
49.
45.
49.

22.
1 3.
14.
15.

68.
64.
67.
63.

30.
30.
29.
32.

2.
5.
4.
5.

13.
11.
13.
10.

44.
46.
46.
38.

44.
43.
41.
52.

19.
17.
20.
26.

54.
54.
46.
48.

27.
29.
34.
26.

52.
34.
27.
16.

35.
49.
52.
59.

13.
18.
21.
24.

17.
13.
11.

41 •
39.
34.

41.
48.
56.

21 •
22.
27.

49.
49.
40.

30.
28.
33.

12.
10.
8.

53.
63.
70.

34.
27.
22.

______________L _




1 R EN EW A LS OR E X T E N S IO N S !
1
1
LOWER
SAME
H IG H E R
i
»
|
i
1
1
57.
31 .
12.
1
I
54.
3fc •
6.
1
1
64.
4.
31.
1
1
54.
5.
42.
1
I
i
i
1
1
33.
66 .
1.
1
1
3.
66 .
32.
1
1
69.
2.
28.
1
1
3.
32.
65.
1
1
i
i
1
1
10.
38.
52.
1
1
54.
8.
37.
1
1
15.
57.
26.
1
f
18.
18.
65.
1
1
i
i
1
1
58.
15.
27.
1
1
64 •
15.
21.
1
»
71.
17.
12.
1
1

_J-

-1 .

c o llateral

LOWER

SAME

R E Q U IR E D
H IG H E R

2.
1.
2.
G.

66.
74.
71.
64.

30.
25.
27.
36.

1.
1.
1.
0.

59.
57.
58.
59.

40.
43.
41.
41.

1.
c.
2.
1.

64.
68.
66.
68.

34.
32.
30.
31.

1.
1.
1.

74.
66.
70.

25.
33.
2V.

Qu a r t e r l y s u r v e y
TABLE 343.1
AVERAG E

of a g r ic u l t u r a l

L O A N / D E P O S IT

R A T IO ,

c r e d it

c o n d it io n s ,

AND PER C EN T A G E

ten th

fed era l

reserve

d is t r ic t — fed er a l

OF BA N KS R E P O R T IN G OTHER C O N D IT IO N S

reserve

THAT R E F L E C T

bank of

R E L A T IV E

Ka n sa s

C R E D IT

A V A IL A B IL IT Y

1
1
|

D ATE OF
SURVEY

R E F U S E D OR i
i
i NUM BER OF FARM LOAN R E Q U E S T S R E F E R R E O TO—
i L O A N / D E P O S IT R A T IO I S — 1 R ED U C ED A 1A C T IV E L Y |
FARM LOAN 1S E E K IN G I C O RR ESPO N D EN T B A N K S
A VER A G E
i
1
NONBANK A G E N C IE S
IL O A N / D E P O S IT i
R EQ U ES1 IN 1 NEW
|
H IG H E R | P R E V IO U S
1 FARM
j
| COMPARED W IT H
I
R A T IG
| COMPARED W IT H
|
i LOWER
THAN
|Q UARTER D UE| LUAN | N O N E | U SU A L NUMBER
D E S IR A B L E
1 ( P E R C E N T ) i THAN
I N O N E | U SU A L NUMBER
D E S IR E D I TO SH O R TA G E!A C C O U N TS 1
1
.
... 1
1
iU t S IR E D
»_________
J____________ i
-flE-fUttPS— J________ l , 1LOWER SAME HIGHER!

1 9 7 6 —Q l . • • |
—Q 2 . • • |
- 0 3 ...1
- 0 4 ...|
1

56.
57.
59.
02.

1
1
1
I
i

12.
12.
12.
10.

51.
54.
49.
4C.

37.
34.
39.
51.

|
|
|
|
1
1

13.
14.
11.
20.

58.
51.
51.
35.

1
I
I
1
i

51.
48.
47.
52.

19.
13.
19.
9.

62.
69.
65.
69.

19.
18.
16.
21.

1
1
1
1
<
1

41.
45.
94.
96 •

1 9 7 7 - 0 1 ...I
- 0 2 .. . I
—Q 3 . • . I
- Q 4 ...1
I

61.
62.
65.
65.

1
1
1
1
1

21 .
12.
12 .
17.

31.
36.
28.
31.

4b.
52.
59.
52.

23.
22.
26.
26.

37.
30.
31.
26.

1
1
1
1
1

39.
40.
37.
41.

7.
10.
8.
10.

64.
63.
64.
58.

29.
27.
28.
32.

1978 —Q 1 . . . |
—Q 2 » . . 1
—Q 3 . . . I
- 0 4 ...|
t

62.
62.
63.
64.

|
1
1
1
■

16.
15 .
14.
15.

4C.
39.
43.
42.

<♦4.
46.
43.
43.

|
|
|
|
1
1
|
|
I
|
1

21.
15.
13.
18.

31.
39.
35.
34.

\

*3 .
36.
39.
40.

12.
10.
20.
19.

65.
73.
66.
66.

23.
17.
1 5.
16.

1 9 7 9 - 0 1 ...|
- 0 2 ...I
- 0 3 ...1

62.
63.
64.

I
1
1
1

18 •
11*
14.

38.
42.
42.

43.
47.
44.

|
|
|

14.
18.
18.

37.
35.
37.

40.
40.
40.

18.
16.
14.

66.
62.
65.

14.
22.
21.

1
1
1
1
i
1
1
1
1
1
i
1
1
1
1




1
|
1
i
1
1
i
1

c it y

12.
10.
13.
9.

63.
70.
69.
66.

26,
20,
19,
25,

39.
37.
36.
32.

5.
6.
5.
5.

61 .
57.
58.
50.

39,
37
37,
95,

36.
39.
37.
36.

7.
13.
14.
13.

99 .
99.
58.
57.

99
3b,
29
29

33.
31.
31.

13.
13.
13.

53.
50.
56.

39,
37
31,

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS* TENTH FEDERAL RESERVE D ISTR ICT— FEDERAL RESERVE BANK OF KANSAS CITY
TABLE 344.1
HOST

DATE OF
SU RVEY

1
|
|
1

F E E D E R C A T T LE
LOANS

COMHON IN T E R E S T R A T E S CH ARGED ON FA RH LOANS
(A V E R A G E . P E R C E N T )
OTHER
O P E R A T IN G
LOANS

IN T E R M E D IA T E - T E R M
(1 TO 7 Y E A R S )
LOANS

LONG-TERM
REA L ESTATE
LOANS

1 9 7 6 —Q l . •• 1
- Q 2 ...I
- 0 3 ...!
—Q 4 . • • 1
|

8 .7 7
8 .8 1
8 .7 8
8 .8 2

8 .9 2
8 .9 1
8 .8 9
8 .9 3

9 .1 5
9 .2 1
9 .1 6
9 .2 2

9 .1 0
9 .1 7
9 .1 9
9 *2 2

1 9 7 7 - Q 1 ...I
- Q 2 ...I
- Q 3 ...I
- Q 4 ...1
i
1
1 9 7 8 - Q 1 ...I
- Q 2 ...I

8 .8 4
8 .8 4
8 .8 4
8 .8 7

8 .9 5
8 .9 6
8 .9 8
8 .9 8

9 .2 3
9 .3 3
9 .3 4
9 .3 2

9 .2 3
9 .2 5
9 .2 5
9 .2 2

8 .9 0
8 .9 4
9 .0 7
9 .2 7

9 .0 3
9 .0 6
9 .2 2
9 .4 0

9 .35
9 .3 8
9 .5 4
9 .8 0

9 .2 3
9 .2 9
9 .4 6
9 .6 4

9 .8 8
1 0 .2 0
1 0 .4 5

9 .9 5
1 0 .2 8
1 1 .1 2

1 0 .2 4
10 .6 2
1 0 .8 0

1 0 .0 3
1 0 .3 0
1 0 .5 1

- Q 4 ... 1

i

1 9 7 9 —Q l •••1
—Q 2 . ••1
—Q 3 . . . |
1




QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS* TENTH FEDERAL RESERVE D ISTR ICT— FEDERAL RESERVE BANK OF KANSAS CITY
TABLE 34*5*1
FARM R E A L E S T A T E
1
1.
D O L L A R S P E R ACRE
OATE OF
|
SU RVEY
|
RANCHLAND
IR R IG A T E D
i N O N IR R IG A T E D
CRO PLA N D
CRO PLAND _
i
1
234.
823.
469.
1 9 7 6 - Q 1 ...I
254.
884.
491.
- Q 2 ...I
25 3 .
914.
497 .
- Q 3 ...I
259.
991.
528.
- Q 4 ...I
i
1
261.
977.
519.
1 97 7 —Q I * • • 1
272.
980.
530.
- 0 2 ...|
271.
984.
533.
264.
961.
- Q 4 .. . |
518.
1
1
264.
980.
530.
1 9 7 8 - Q 1 ...I
270.
970.
546.
- Q 2 ...I
280.
1007.
- 0 3 ...|
561.
295.
1066.
- 0 4 ...|
591.
■

1

1 9 7 9 - 0 1 ... |
- 0 2 ...I
- 0 3 ...|

615.
672.
695.

__________ L




1114.
1181.
1316.

29 7 .
334.
335.

MARKET V A LU E
1 PER C EN TA G E

VALUES

OF GOOD FARM LAND

CHANGE FROM P R E V IO U S

1 N O N IR R IG A T E D
IR R IG A T E D
1 ____ CROPLAND_______ CROPLAND

Q UARTER I

RANCHLAND

1
I
1
1

*♦ **
4 .6
1 .2
6 .2

7 .4
3 .5
8 .4

8 .4
- 0 .3
2 .5

1
1
1
1

- 1 .7
2 .2
0. 5
- 2 .8

- 1 .5
0 .4
C .3
- 2 .3

1
I
j
I

2 .3
3. 1
2 .8
5 .3

1
1
1

4. 1
9 .2
3 .4

PE R C E N T A G E

CHANGE

| N O N IR R IG A T E D
1
CRO PLAND

j
j
j

FROM

IR R IG A T E D
CROPLAND

P R E V IO U S

YEA R

RANCHLAND

****
****

}

***♦
% ***
♦ ***
****

**♦ *

****
****
*♦ **
***♦

0 .6
4 .2
- 0 .4
- 2 .6

I
|
1
»

1 0 .6
8. 1
7 .3
- 1 .9

1 8 .7
1 0 .9
7 .6
- 3 .0

1 1 .5
7 .1
7 .0
1 .7

2 .0
- 1 .0
3 .7
5 .9

0 .0
2 .4
3 .6
5 .4

1
|
1
|

2 .1
3 .0
5 .4
1 4 .2

0 .4
- 1 .0
2 .3
1 0 .9

1 .2
—0 .6
3 .4
1 1 .9

4 .5
6 .0
1 1 .5

0 .8
1 2 .5
0 .2

I
|
|

1 6 .2
23. C
2 3 .8

1 3 .7
2 1 .7
3 0 .8

1 2 .6
2 3 .7
1 9 .8

AGRICULTURAL FINANCE DATABOOK— QUARTERLY SERIES

350

JULY 1979

D A LLA S

3 5 1 .1

C U RREN T

FARM N O N - R E A L - E S T A T E L E N D IN G

3 5 2 .1

FARM N O N - R E A L - E S T A T E LOAN VOLUME E X P E C T E D D U RIN G THE C URRENT
Q U A R T E R . ......................................................................................................................................... 35

3 5 3 .1

AVER AG E L O A N / D E P O S IT R A T IO AND OTHER C O N D IT IO N S THAT R E F L E C T
R E L A T IV E C R E D IT A V A I L A B I L I T Y ......................................................................................... 36

3 5 4 .1

MOST COMMON IN T E R E S T

3 5 5 .1

T REN D S

IN

FARM R EA L

RATES

ESTA TE

E X P E R I E N C E ........................................... 34

CHARGED ON FARM L O A N S ......................................... 37

VALUES

AND LOAN V O LU M E...................................... 38

THE F E D E R A L R E S E R V E BANK OF D A LLA S I N IT IA T E D A Q U A R T ER LY S U R V E Y OF
A G R IC U L T U R A L C R E D IT C O N D IT IO N S ON J U L Y 1* 1 9 7 5 .
A SA M PLE OF 331 MEMBER AND
NONMEMBER BANKS WAS DRAWN TO P R O V ID E R E P R E S E N T A T IO N OF BANKS OF A LL S I Z E S
THROUGHOUT THE E L E V E N T H F E D E R A L R E S E R V E D I S T R I C T .
A R E S P O N S E RATE OF ABOUT 70
P E R C ENT HAS B E E N E X P E R IE N C E D .
AS OF JA N U A R Y 1 9 7 6 , THE SU R V E Y C O VERED 23 P E R CENT OF ALL BANKS IN THE
D IS T R IC T .
TH E E F F E C T I V E S A M P L IN G RATE WAS R E L A T E D P R IM A R IL Y TO THE R E L A T IV E
IM PO R TA N C E OF FARM L E N D IN G .
OF THE 522 BANKS AT WHICH FARM LOANS C O M P R IS E D
O NE-FO URTH OR MORE OF TOTAL LOANS (B A S E D ON JU N E 1974 D A T A ), 54 P E R CENT WERE
IN C LU D E D IN TH E S U R V E Y .
T H I S GROUP THUS ACCOUNTED FOR 85 P E R CENT OF THE
BA N KS I N T H E S U R V E Y .
SU R V E Y R E S U L T S ARE P U B L IS H E D AND D IS C U S S E D B R I E F L Y IN A Q U A R T ER LY
S T A T IS T I C A L R E L E A S E E N T IT L E D "Q U A R T E R L Y S U R V E Y OF A G R IC U L T U R A L C R E D IT
C O N D IT IO N S IN E L E V E N T H F E D E R A L R E S E R V E D I S T R I C T , " WHICH MAY BE O B T A IN E D
FROM T H E R E S E A R C H D EPA R T M EN T , F E D E R A L R E S E R V E BANK OF D A L L A S , S T A T IO N K ,
D ALLAS, T EX A S, 75222.




33

34
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF DALLAS
TABLE 351.1
CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE, COMPARED WITH USUAL CONDITIONS
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY

i
i
1

DEMAND FOR LOANS
LOWER

SAME

HIGHER

1
1
i

1975-Q3...I
-04...|
i
1
1976-01...I
—Q2... |
-03...|
-04...|
i
1

20.
21.

50.
58.

30.
21.

16.
17.
6.
7.

53.
55.
54.
46.

31.
28.
40.
47.

1977—Q l . . . I
- Q 2 ...1
- Q 3 ...I
- 0 4 ...|
i
1
1 9 7 8 - 0 1 ...1
- Q 2 ...I
- 0 3 ...|
- Q 4 ...|

14.
7.
5.
3.

51.
53.
43.
42.

35.
40.
52.
55.

8.

45.
52.
47.
46.

47.
42.
48.

1
1
1
1
l
1
1
1
1

48.

\

1 97 9 —Q l . .• 1

8.

43.
46.
54.

49.
43.

|

- 0 2 . ..|

- Q 3 ...I

6.
4.

6.

11.
12.

______________ L




i
i
1

1
1

«
»
l1

1

I
34.

i
i
i

__ L

FUND AVAILAttlL 1TY
LOW ER

SAME

HIGHER

12.
11.

50.
59.

38.
30.

7.
7.
7.
14.

58.
58.
68.
62.

36.
36.
25.
24.

15.
12.
15.
19.

51.
54.
63.
63.

34.
34.
22.
18.

20.
17.
28.
38.

65.
65.
57.
48.

15.
17.
14.
14.

40.
38.
37.

46 •
50.
51.

13.
12.

11.

i
i
i

1
1
i
1
i
i
i
i
i
1
1
1
1
1
i
1
1
1
1
\

i
1
1
1

1
__ L

LOAN REPAYMENT RATE
LUWER

SAME

37.
25.

57.
64.

6.
12.

i
i

6.
15.

48.
50.

47.
35.

|
|

0.
1.

54.
61.

46.
38.

28.
21.
15.
28.

65.
73.
78.
69.

7.
6.
7.

1
1
1
1

11.
7.
6.

55.
66.
74.

34.
27.
20.

|
1
|

63.
68.
71.

37.
32.
28.

5.

69.

26.

|

1.
c.
1.
0.

68.

32.

28.
26.
31.
38.

66.
67.
66.
59.

5.
7.
3.
3.

8.
5.
4.
4.

59.
59.
65.
52.

33.
35.
31.
44.

|
|
|
1

1.

74.
70.
62.
68.

25.
30.
38.
32.

49.
36.
25.
29.

49.
61.
72.
61.

9.

44.

4.
4.

4.
7.

55.

52 •
41.
31.

|
|

1.
0.
1.

62.
59.
63.
59.

38.
40.
37.
41.

28.
19.
18.

61.
69.

1.
1.
c.

64 .
56.
63.

35.
43.
37.

66.

HIGHER

COLLATERAL REQUIRED
i RENEWALS OR EXTENSIONS!
i
l_
1 LOWER SAME HIGHER
i LOWER SAME HIGHER

4.

3.

9.
11.
12.
16.

1
I
1
1
1
1
1
i
1
1
1
1
1
■
1
i
i

i
__i_

10.
14.
14.
13.

30.

|
|

57.
60.

29.
27.

|
|

66 •

20.

|

62.
60.

0.
1.
1.

0.

35
Q U A R T E R L Y SURV E Y OF A G R I C U L T U R A L CRED I T C O N D I T I O N S ,
T A BLE 352.1

E L E V E N T H F EDEkAL R E S E R V E D I S T R I C T — F E D E R A L RESERVE BANK OF OALLAS

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
TOTAL

1

DATE OF
SURVEY

1 LOWER SAME HIGHER
1
26.
23.

41.
55.

33.
23.

13.
11.
7.
14.

51.
52.
51.
44.

36.
37.
41.
42.

11.
7.
6.
11.

50.
47.
50.
46.

39.
46 .
44.
43.

9.
11.
6.
19.

44.
47.
50.
43.

47.
42.
44.
43.

1 9 7 9 - 0 1 ... 1
- 0 2 ...I

15.
18.
23.

45.
48.
52.

40.
34.
25.

•
•
•

1

«\
a

1 9 7 5 - Q 3 ...I
- 0 4 ...I
1
1 9 7 6 - 0 1 .* . 1
- 0 2 ...|
- Q 3 ...I
- 0 4 ...|
i
1
1 9 7 7 —Q l . . . 1
—0 2 . . . 1
- 0 3 ...|
- Q 4 ...I
i
1
1 9 7 8 - 0 1 ...|
- Q 2 ...I
- 0 3 ... |
- 0 4 ...|
1

1




i
1 FEEDER CATTLE
1
i
1 LOWER SAME HIGHER i
_L
jL
i
i
i
1
i
i
i
i
I
1
i
i
i
i
1
1
1
1
1
1
1
1
1
1
1

54.
38.

30.
42.

16.
20.

28.
30.
27.
41.

45.
55.
55.
46.

27.
15.
17.
13.

27.
24.
23.
18 •>

57.
62.
59.
59.

15.
14.
18.
23.

13.
18.
11.
16 .

60.
46.
56.
45.

27.
36.
32.
39.

18.
22.
29.

47.
51.
55.

35.
27.
16.

i
i
i
1
i
i
i
i
i
1
1
1
»
1
1
1
i
i
i
i
1
1
1
1
1

DA IRY
LOWER SAME HIGHER
34.
31.

5 9.
64.

6.
5.

21 .
18.
21.
17.

71.
76.
72.
75.

8.
6.
8.
8.

14.
12.
15.
18.

81.
82.
73.
75.

5.
7.
13.
7.

15.
14.
15.
16.

7 7.
72.
72.
73.

8.
14.
14.
9.

1 2.
19.
1 7.

78.
73.
71.

10.
8.
12.

i
i
i
i
i
I
1
i
i
i
i
1
1
i
i
i
i
1
1
1
\

1
1
I
1
1
1
1

CROP STORAGE
LOWER SAME HIGHER
15.
16.

55.
62.

30.
22.

17.
11.
14.
13.

57.
75.
59.
58.

26.
15.
26.
29.

9.
12.
11.
15.

61.
67.
56.
54.

30.
22.
33.
31.

10.
11.
13.
12.

57.
61.
57.
60.

33.
28.
30.
28.

18.
11.
21.

61.
77.
70.

21.
13.
9.

OPERATING

i
i LOWER
_L

SAME HIGHER

•
i
i
1
i
i
i
i
1
1
i
i
i
i
i
1
1
1
1
1
1
1

13.
15.

36.
49.

52.
36.

7.
7.
7.
10.

43.
46.
45.
43.

50.
47.
48.
47.

8.
5.
3.
11.

44.
38.
40.
42.

48.
57.
56.
47.

6.
10.
5.
11.

44.
36.
44.
46.

49.
54.
51.
43.

1
1
1

10.
14.
19.

40.
41.
44.

50.
45.
36.

i
i
1
|

FARM MACHINERY
LOWER SAME HIGHER

i
i
I
1
1
1
1
1
I
1
1
1
1
1
i
1
1
1
1
1
i
1

29.
15.

42.
50.

30,
36,

10.
16.
14.
16.

57.
50.
52.
49.

33,
34,
35,
36,

15.
14.
15.
30.

50.
48.
47.
43.

35
38,
38
27

31.
28.
23.
20.

45.
48.
47.
51.

24,
24
30,
29

1
1
I

22.
18.
14.

51.
4b.
54.

27
33
33

Q U A R T E R L Y S U R V E Y OF A G R IC U L T U R A L C R E D IT C O N D IT IO N S * E L E V E N T H F E D E R A L R E S E R V E D IS T R IC T — F E D E R A L
T A B L E 3 5 3 .1
A V E R A G E L O A N / D E P O S IT R A T IO * AND P E R C E N T A G E OF B A N K S R E P O R T IN G OTHER C O N D IT IO N S THAT R E F L E C T

L O A N / D E P O S IT R A T IO
D ATE OF
SU RVEY

A VERAG E
L O A N / D E P O S IT
R A T IO
(P E R CEN T)

LOW ER
THAN
D E S IR E D

ABOUT
R IG H T

H IG H E R
THAN
D E S IR E D

R E L A T IV E

BANK

OF D A L L A S

C R E D IT

NUM BER OF FARM LOAN R E U U B S T S R E F E R R E D

R E F U S E D UR |
R ED U C ED A | A C T IV E L Y
FARM LOAN | S E E K IN G
R E Q U E S T IN |
NEW
P R E V IO U S
|
FARM
Q UA R TER D UE|
LOAN
TO SH O KTA G E|AC C O U N TS

IS —

RESERV E

A V A IL A B IL IT Y
TU—

NUNBANK A G E N C IE S *
COMPARED W IT H
U SU A L NUMBER

C O RR ESPO N D EN T B A N K S*
COMPARED W ITH
U SU A L NUMBER
LOW ER

SAME

H IG H E R

LOWER

SAME

H IG H E R

27.
28.

61.
60.

13.
12.

|
|

17.
14.

59.
65.

22
20

22.
20.
16.
19.

66.
69.
72.
63.

13.
11.
11.
18.

I
|
1
|

19.
16.
13.
17.

63.
71.
80.
74.

18
13
7
9

16.
18.
17.
12.

70.
72.
66 .
68.

14.
10.
17.
20.

|
|
I
|

12.
13.
1 4.
7.

73.
65.
65.
64.

15
22
21
29

10.
10.
7.
fc•

74.
73.
73.
68.

15.
17.
20.
24.

|
(
|
|

8.
6.
b.
5.

61.
64.
63.
60.

31
28
29
35

15.
9.
14.

69.
75.
69.

17.
16.
17.

|
|
}

6.
7.
7.

55.
63.
67.

38
30
26

-QE-EUttDS___I________
58.
55.

1
1
t

25.
29.

55.
55.

20.
16.

|
|
i

11.
12.

40.
44.

54.
55.
58.
60.

1
1
I
I
i

37.
37.
26.
24.

46.
46.
56.
50.

17.
15.
19.
26.

8.
7.
7.
13.

49.
51.
50.
45.

1 9 7 7 - Q 1 ...I
- Q 2 ...|
—Q 3 • » • |
—Q 4 . • • |
|

57.
58.
62.
63.

1
1
I
|
i

25.
31.
22 •
21 •

59.
5 3.
5 3.
52.

16.
17.
26.
28.

|
|
|
|
j
|
(
|
|
1

10.
10.
15.
9.

50.
49.
44.
39.

1 978—Q
—Q
-Q
-Q

l.. . |
2 ...I
3 ...I
4 ...I
t

60.
59.
62.
63.

1
I
1
1
i

21.
25.
21 •
15.

56.
51.
47.
54.

23.
24.
31.
31 •

I
|
I
I
i

9.
15.
14.
22.

36.
36.
32.
32.

1 9 7 9 - Q I...I
- Q 2 ...I
—Q 3 . . . I

60.
60.
62.

1
I
1

22.
20.
19.

52.
55.
5 5.

26.
25.
26.

|
|
|

23.
22.
24.

28.
30.
33.

1 9 7 5 - Q 3 ...I
- Q 4 ...I
i
1
1 9 7 6 —Q l . • . |
- Q 2 ...I
- Q 3 ...|
- Q 4 ...1
1




I
1
1
1
1
1
1
1
1
i
i
i
i
1
1
1
1
1
i
1
1
1
1

Q U A R T E R L Y S U RVEY OF A G R I C U L T U R A L CREO I T CONDITIONS,
T ABLE 354.1

E L E V E N T H FEDERAL R E SERVE D I S T R I C T — F E DERAL RESERVE BANK OF DA L L A S

HOST COHHCW INTEREST RATES CHARGED ON FARM LOANS
1AVERAGE, PER C E N T )
I
I
|
1
i
1975-Q3... I
-Q4...I
i
1
1976-01... |
-Q2. • • |
—Q3.•.|
-04...|
i
1
1977—Q l . .. |
-02...|
-Q3...I
—Q 4 . . . |
i
1
1978—Q l . • . |
—Q 2 ... 1
— 03... 1
—0 4 . • • |
1
1979-01...1
—02... 1
-Q3...I
____________L

DATE OF
SURVEY

FEEDER CATTLE
LOANS

OTHER
OPERATING
LOANS

INTERMEDIATE-TERM
(1 TO 7 YEARS)
LOANS

9.vr
9.60

9.39
9.41

9.36
9.44

9.26
9.32

9.46
9.34
9.33
9.33

9.42
9.33
9.29
9.31

9 .42
9.40
9 .40
9 .41

9.36
9.35
9.36
9.35

9.27
9.30
9.28
9.30

9.28
9.25
9.24
9.26

9.37
9 .37
9.40
9 .43

9.31
9.32
9.33
9.39

9.39
9.43
9.53
9.75

9.37
9.42
9.50
9.74

9 .46
9 .52
9.58
9.79

9.44
9.48
9.56
9.77

10.10
10.25
10.35

10.07
10.25
10.34

10 .08
10.24
10 .35

9.99
10.12
10.19




LONG-TERM
REAL ESTATE
LOANS

38
Q U A R T E R L Y SURV E Y OF A G R I C U L T U R A L C R E D I T CONDITIONS,
T A B L E 355.1

ELEVE N T H FEDERAL R E S E R V E D I S T R I C T — FE D E RAL RESERVE BANK OF DALLAS

TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
1
| DOLLARS PER
|
L
i DRY­ IRRI­
i LAND- _GATED.
1
1975-03...| **** ****
—Q 4 . • • | **** ****
i
1
**♦* ****
1976-Q1...I
**** ****
-02...!
397. 652.
-Q3...|
- Q 4 . . . | 387. 67C •
1
1977-01...I 395. 685.
-02...1
403. 685.
414.
722.
-Q3...I
- 0 4 . . . | 415. 700.
i
1
1978-01...| 435. 704.
441.
726.
-Q2...I
- 0 3 . . . | 449. 781.
776.
-04...!
481.
i
1
1979— Ql... | 474. 828.
-Q2...I 519. 928.
- Q 3 . . . 1 508. 866.

DATE OF
SURVEY

_________________L




1
!
1
.1.
RANCH-1
LAND 1
1
**** 1
**** 1
i
1
♦ ♦♦♦ i
♦ ♦♦* i
274. i
284. i
ACRE

fi

PERCENTAGE CHANGE
FROM PREVIOUS
QUARTER
DRY­ IRRI­ RANCH- I
LAND. GATED LAND 1
****
*♦**

**♦*

****
***♦
♦***
-2.5

♦ * **
*♦**
2.8

♦***
*♦♦♦
****
3.6

j
i
j
j

2.2
O.C
5 .4
-3 .0

1.1
-0.3
5.9
-2.6

j
i
1
1

0.6
3.1
7.6
—0 .6

1.7
1.3
13.2
—0. 6

1
I
!
»

6.7
12.1
-6.7

7.9
2.4
4.2

1
1
!

287. \ 2.1
286. 1 2.0
303. » 2.7
295. 1 0.2
i
1
300. i 4.8
304. i 1.4
344. i 1.8
342. i 7.1
i
■
369. 1 -1.5
378. 1 9.5
394. 1 -2.1

J-

j

****
*♦**

|

PERCENTAGE CHANGE IPERCENTAGE UF BANKS EXPECTING
FROM PREVIOUS
I TREND DURING THE CURRENT
YEAR
I
QUARTER TO BE—
1
DRYUP
DOWN
STA8LE
IRRI­ RANCh-l
LAND GATED LAND. 1
1
**** ♦ *** ****
|
4.
9.
87.
*♦** ***♦
|
3.
19.
78.
1
1
**** **** ****
|
81.
16.
3.
**** **** ****
|
80.
3.
17.
♦*** **♦*
j
23.
76.
1.
**♦* ♦ *** *♦♦♦
i
76.
21.
3.
i
•
***♦ ****
i
76.
19.
5.
j
**♦*
4.
69.
27.
4.3
20.
10.7 1C .6
I
7.
73.
7.2
4.5
3.9
|
16.
13.
71.
i
1C.1
2 .8
4.5
!
76.
13.
11.
9.4
70.
6.0
6.3
|
2.
26.
8.5
8.2 13.5
|
21.
1.
77.
15.9
26.
10 .9 15.9
72.
|
2.
i
1
3.
27.
9.0
17.6 23.0
71.
|
29.
68.
17.7 27.8
24.3
|
2.
70.
13.1
t
3.
10.9 14.5
27.
____________L

PERCENTAGE OF BANKS EXPECTING
DURING THE CURRENT QUARTER,
AS COMPARED WITH VOLUME MADE
A YEAR EARLIER, TO BE —
LOWER

SAME

HIGHER

31.
22.

57.
67.

12.
11.

16.
16.
18.
16.

72.
72.
68.
67.

12.
12.
13.
17.

18.
17.
13.
23.

66.
66.
66.
62.

16.
17.
21.
16.

18.
17.
14.
24.

64.
67.
63.
65.

19.
16 .
23.
12.

25.
28.
27.

61.
61.
61.

13.
11.
12.

A G R I C U L T U R A L FINA N C E D A T A B O O K — Q U A R T E R L Y S ERIES

360

JULY 1 0 7 9

RICHMOND

361.1

CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE.................... 40

362.1

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT
QU A R T E R ...................................................................41

363.1

AVERAGE LOAN/OEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT
RELATIVE CREDIT AVIALABILITY.......................................... 42

364.1
365.1

TYPICAL INTEREST RATES CHARGED ON FARM L O A N S ........................ 43
TRENDS IN FARM REAL ESTATE VALUES AND LOAN V O L U M E.................. 44

THE FEDERAL RESERVE BANK OF RICHMOND BEGAN A QUARTERLY SURVEY OF
AGRICULTURAL CREDIT CONDITIONS ON OCTOBER 1, 1975.
IN SELECTING THE
SAMPLE, THE 773 BANKS IN THE FIFTH FEDERAL RESERVE DISTRICT WEPE
STRATIFIED ON THE BASIS OF OUTSTANDING DOLLAR VOLUME OF FARM LOANS, AND
THOSE BANKS WITH A HIGH VOLUME OF FARM LOANS WERE SAMPLED MUCH MORE
HEAVILY.
A TOTAL OF 64 BANKS WERE SELECTED IN THIS MANNER, OF WHICH 43
AGREED TO PARTICIPATE IN THE SURVEY.
OF THE 18 BANKS WHERE OUTSTANDING
FARM LOANS EXCEEDED $10 MILLION IBASED ON JUNE 1974 DATA), 16 WERE INCLUDED
IN THE FINAL SAMPLE OF 43 8ANKS.
AN EXTENSIVE DISCUSSION OF SURVEY RESULTS IS PRESENTED QUARTERLY
IN A REPORT ENTITLED "FARM CREDIT CONDITIONS IN THE FIFTH DISTRICT," WHICH
MAY BE OBTAINED FROM SADA CLARKE, RESEARCH DEPARTMENT, FEDERAL RESERVE
BANK OF RICHMOND, RICHMOND, VIRGINIA, 23261.




39

Q U A R T E R L Y SURVEY OF A G R I C U L T U R A L CREDIT
T A B LE 361.1

CONDITIONS,

40

F IFTH F E D E R A L R E S E R V E D I S T R I C T — FE D E R A L R E S E R V E BANK OF R I C HMOND

CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE, COMPARED WITH USUAL CONDITIONS
PERCENTAGE OF BANKS REPORTING
1
1
1

DATE OF
SURVEY
1 9 7 5 - Q 4 ...|

DEMAND FGk LOANS
LOWER

SAME

21.

51 .

Hi GHER
28.

i
1

i

i
i
1
i
I

FUND AVAILABILITY
LOWER

SAME

HIGHER

10.

4 6 .

44.

1
1
i
I
1
1

LOAN REPAYMENT RATE
LOWER

SAME

HIGHER

i RENEWALS OR EXTENSIONS!
i
_____ 1
SAME
HIGHER
I
i LOWER

COLLATERAL REQUIRED
LOWER

SAME

1
31.

6 2 .

8 .

1
i
1

HIGHER

5 .

6 7 .

2 8 .

71.
8 0 .

2 7 .

|

0 .

76.

2 4.

2 0 .

|

0 .

80.

2 0.

1 9 7 6 - Q 1 ... |

12.

68 .

21.

1

6 .

44.

50.

1

21 .

71.

9 .

1

3 .

“ 02 . . . |

6 .

71 .

23.

1

6 .

43.

51.

1

20.

7 7 .

3 .

1

0 .

|

0 .

77.

2 3 .

“ 0 3 . . . |

0.

7 4.

26.

1

3 .

63.

34.

1

0 .

9 7 .

3 .

1

11.

86.

3 .

I

c .

83.

17.

“ 0 4 . . . |
i
I
1 9 7 7 - Q 1 ...|

11.

74.

14.

1
i
1

3 .

68 .

29.

1
i
1

11.

86.

3 .

9 .

83.

9 .

|

c .

80.

2 0 .

0.

8 3 .

15.

1

3 .

50.

47.

1

24.

1
i
1

7 7 .

0 .

1

12.

59.

2 9 .

|

0 .

79.

2 1 .

“ 0 2 . . . |

6 .

6 0.

34.

1

0 •

6 3 .

37.

1

6 .

3 .

8 3 .

I

6 .

72.

22.

1

0 .

66.

3.

ei.

21

36.

1
|

79.

68 .

11 •
14.

c .

6 .

1
1

6 .

“ Q 3 ...I

9 1 .
89.

12.

62.

27.

1
1
1

9 .

71.

21.

1
i
1

74.

3 .

1
i
1

3 .

6 7 .

3 0 .

|

0.

85.

15.

10 •

73.

17.

1

67.

6 .

36.

58.

7.

3 2 .

65.

3.

31 .

66.

3.

1
1
1
1
1
1

7 .

2 7 .

2 7 .

74.

0 .

3 6.

65.

0.

“ Q 4 ...|
i
1
1 9 7 8 - 0 1 ...1
“ Q 2. . .

I

“ Q 3 ...I
- Q 4 ...I
i

7 .

6 0 .

33.

21.
19.

3 6 .

42.

69 .

13.

10.

61 •

29.

13.

6 3 .

25.

9 .

65.

27.

7.

6 8 .

26.

1
1 9 7 9 - Q 1 ...I

“02...I
“ 0 3 ...1

______________ l _




1

1
1
1
i
1
i
i
i
__ L

\

1
1
_L _.

11.

24.
5 7.

3 7 .

30.
13.

70.
84.

10.

8 1.

6.

78.

6 .

8 5.

/•

87.

o .

0.

1
3 .
1
10.
1
i
1
16.
i
9 .
i
7.
i
__ i__

.

17.

3 .

3 3 .

63.

|

0 .

77.

3 .

61.

36.

|

0 .

73.

23.
27.

3 .

81.

16.

|

3 .

78.

19.

16.

68.

16.

|

0 .

84.

16.

|
|

0 .

75.

G.

76.

25.
24.

|

0 .

71.

2 9 .

16.

75.

9 .

12.

85.

3 .

0 .

90.

10.

Q U A R T E R L Y SURVEY OF A G R I C U L T U R A L C R E D I T C O NDITIONS*
TA BLE 362.1

FIFTH F EDERAL R ESERVE D I S T R I C T — FEDERAL RESERVE bANK OF RICHMOND

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER* COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
TOTAL

| LOWER SAME HIGHER
i
i
29.
58.
1975-04...I 13.
1
33.
61.
6.
1976—Q l . ••1
33.
67.
0.
-Q2...I
29.
66.
6.
-Q3...I
20.
77.
3.
-Q4...I
k
1
24.
73.
3.
1977—Q l . .•1
69.
31.
0.
-Q2...I
56.
39.
6.
-Q3...I
64.
30.
6.
-Q4...I
i
1
31.
7.
62.
1978— Q l . • . I
34.
50.
16.
-Q2...I
22.
59.
—Q 3 . . . | 19.
10.
72.
- Q 4 . . . S 17.
i
1
29.
55.
16.
1979—Q l . ..1
36.
58.
6.
-Q2...I
21.
62.
—Q 3 . • • t 17.
SURVEY




FEEDER CATTLE

DA IRY

LOWER SAME HIGHER

LOWER SAME HIGHER

CROP STURAGE
LOWER SAME HIGHER

OPERATING

FARM MACHINERY

LOWER SAME HIGHER

LOWER SAME HIGHER

39.

52.

9.

12.

76.

12.

14.

58.

28.

8.

59.

33.

18.

49.

33.

37.
14.
19.
26.

56.
61.
68.
68.

7.
25.
13.
7.

25.
10.
16.
12.

5 7.
66.
66.
73.

18.
24.
19.
15.

23.
19.
16.
7.

55.
69.
68.
61.

23.
13.
16.
32.

3.
0.
3.
6.

47.
54.
66.
77.

50.
46.
31.
17.

21.
11.
17.
9.

41.
49.
6C.
69.

38.
40.
23.
23.

19.
7.
26.
14.

78.
87.
66.
64.

4.
7.
7.
21.

11.
10.
23.
17.

79.
8 1.
70.
72.

11.
1C.
7.
10.

10.
9.
15.
19.

73.
82.
55.
41.

17.
9.
30.
41.

3.
3.
8.
9.

56.
49.
36.
44.

41.
49.
56.
47.

6.
3.
17.
24.

68.
57.
47.
59.

27.
40.
36.
18.

15.
10.
21.
7.

74.
80.
71.
71.

11.
10.
7.
21.

11.
17.
21.
10.

85.
80.
79.
9 C.

4.
3.
0.
0.

14.
28.
13.
10.

57.
69.
67.
53.

29.
3.
20.
37.

13.
24.
16.
23.

37.
36.
44.
55.

50.
39.
41.
23.

30.
30.
31.
23 •

53.
46.
38.
48.

17.
24.
31.
29.

15.
11.
27.

70.
71.
69.

15.
18.
4.

17.
19.
22.

7 2.
75.
74.

10.
6.
4.

23.
30.
14.

65.
58.
62.

13.
12.
24.

19.
6.
19.

47.
50.
48.

34.
44.
32.

16.
12.
26.

56.
65.
48.

28.
24.
26.

Q U A R T E R L Y SURVEY OF A G R I C U L T U R A L C R E D I T CONDI T I O N S *
T A B L E 363.1

FIFTH F E D E R A L RESERVE D I S T R I C T — FEDERAL RESERVE SANK OF RICHMOND

AVERAGE LOAN/DEPOS1T RATIO* AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY
REFUSED UR |
NUMBER OF FARM LOAN REQUESTS REFERRED TU—
REDUCED A |ACTIVELY
NONBANK AGENCIES
FARM LOAN |SEEKING
CORRESPONDENT BANKS
REQUEST IN I NEW
| COMPARED WITH
| COMPARED WITH
PREVIOUS
| FARM
HIGHER
THAN
QUARTER DUE|
LOAN
NONE I USUAL NUMBER
NONE I USUAL NUMBER
DESIRED TO SHORTAGE|ACCOUNTS
I_______________
I __________________________
-OE-EUMflS__ I________
JlOHEB-SAtifc-tllbaEB. _____ HOMES, SAMS., tUSHES

LOAN/DEPOSIT RATIO IS—
DATE OF
SURVEY

AVERAGE
LOAN/DEPOSIT
RATIO
(PER CENT)

1975-04.

i
1
1976-Q1...I
-03...|
-Q4...I
I
1977-Q1...I
-02..•1
-Q3...1
-04 . . . \
i
1978-01...1
-02.•.1
-03...1
-04...|
1
1979-01...1
-Q2...I
-03...I

64.
60.
61.
64.
62.
62.
64.
66.
66.
66.
65.
68.
67.
65.
66.
68.




LOWER
THAN
DESIRED

I
i
1
1
|
1
1
1
|
1
|
j
I
I
1
I
1
1
I
1
I

JL

ABOUT
RIGHT

28.

62.

10.

47.
40.
30 .
34.

44.
54.
55.
57.

9.
6.
15.
9.

42.
34.
27.
36.

58.
49.
50.
49.

0.
17.
24.
15.

36.
25.
13.
20.

43.
53.
4 7.
47.

21.
22.
41.
33.

16.
15.
10.

61.
62.
58.

23.
24.
32.

|
i
1
|
1
|
t
i
|
|
|
|
k
I
I
|
|
i
|
|
|

8.

63.

3.
3.
3.
0.

62.
71.
59.
65.

0.
0.
0.
0.

71.
82.
72.
68.

3.
3.
13.
13.

73.
64.
56.
60.

13.
6.
10.

66.
68.
61.

|
I
1
1
I
1
1
I
1
1
1
i
I
1
I
1
i
1
1
1

***

♦**

***

76.
63.
70.
71.

0.
11.
0.
3.

21.
26.
27.
24.

70.
65.
66.
72.

6.
3.
3.
3.

21.
32.
31.
25.

78.
71.
83.
71.

C.
3.
0.
0.

22.
26.
13.
29.

72.
74.
63.

0.
0.
3.

28.
23.
30.

**♦ 1
i
1
3. 1
0. 1
3. 1
3. 1
i
1
3. 1
0. 1
0. 1
0. 1
1
c. 1
c. 1
3.
U. 1
i
1
0. i
3. i
3. i

***
38.
36.
47.
47.

6.
7.
0.
6.

47.
45.
50.
4*.

9.
13.
3.
3.

41.
44.
48.
53.

9.
3.
7.
6.

47.
44.
36.
25.

3.
9.
10.
16.

43.
33.
48.
52.

0.
0.
0.
0.

29.
33.
36.
36.

29.
33.
16.
13.

39.
39.
45.

0.
0.
0.

48.
39.
41.

13.
23.
14.

Q U A R T E R L Y SURVEY OF A G R I C U L T U R A L C R E D I T CONDI T I O N S ,
T ABLE 364.1

F IFTH FE D E R A L RE S E R V E D I S T R I C T — F E DERAL RESERVE BANK OF RICHMOND

TYPICAL INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT I
1
I
|
1
1
1975-Q4...I
»
1
1976-01*..1
—0 2 * • • |
• Q i * ••1
-Q4...I
i
1
1977-Q1...I
—02• • • I
-Q3...I
—04* • • |
I
1
1978—Q l * • • |
-Q2...I
-03... I
—04...1
1
1979-Q1...I
-02...1
-03...I
1

DATE OF
SURVEY

FEEDER CATTLE
LOANS

OTHER
OPERATING
LOANS

INTERMEDIATE-TERM
(1 TO 7 YEARS)
LOANS

8.98

8.98

9.53

9.34

8.89
8.88
8.91
8.77

8.86
8.90
8.81
8.75

9.48
9.29
9.26
9 .20

9.22
9.26
9.19
9.31

8.89
8.78
8.84
8.70

8.89
8.73
8.82
8.74

9.29
9.17
9.26
9.28

9.28
9.30
9.35
9.27

8.90
9.00
9.30
9.60

9.00
9.10
9.40
9.50

9.50
9 .40
9.70
10 .00

9.40
9.50
9.60
9.80

10.30
10.90
11.40

10 .40
10.70
11.00

10 .50
11 .20
11 .30

10.30
10.90
11.40




LONG-TERM
REAL ESTATE
LOANS

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONSt FIFTH FEOEKAL RESERVE D ISTRICT— FEDERAL RESERVE BANK OF RICHMOND
TABLE 365.1

TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME

1
1
DATE OF
I
SURVEY
|
1
1
J
i
1975-Q4...I
I
1
I976-Q1...I
-Q3...I
1
1977—Q l . • • |
-02...|
-03...|
-0 4 . . . |
i
1978— Q l . . . I
-02...|
-03...|
—Q 4 . ..1
|
1979-01...I
-0 2 . . . |
-03...|
___________ L

I PERCENTAGE OF BANKS EXPECTING
1 FARM REAL ESTATE LOAN VOLUME
PERCENTAGE OF BANKS EXPECTING | DURING THE CURRENT QUARTER,
I AS COMPARED WITH VOLUME MADE
TREND DURING THE CURRENT
I
A YEAR EARLIER, TO BE—
QUARTER TO BE
1
HIGHER
DOWN ___ STABLE ____UP_____ 1
LOWER
SAME_ _
i
76.
5.
13.
82.
13.
i
ii.
1
16.
79.
68 •
18.
I
16.
3.
61.
80.
20.
1
18.
21.
0.
14.
76.
18.
0.
86.
1
6.
0.
70.
83.
18.
17.
1
12.
1
1
75.
0.
18.
82.
16.
1
9.
0.
70.
24.
82.
18.
i
6.
6.
1
6•
67.
27.
83.
11.
75.
0.
94.
6.
|
13.
13.
I
10.
70.
13.
3.
87.
1
17.
68.
24.
76.
10.
0.
1
23.
0.
25.
I
28.
63.
9.
75.
70.
10.
0.
74.
26.
1
20.
i
0.
34.
59.
66.
7.
1
35.
53.
25.
0.
49.
52.
1
22.
36.
I
18.
57.
c.
25.
65.
J.

MARKET VALUE OF GOOD FARMLAND
DOLLARS
PER
ACRE

1
I

PERCENTAGE CHANGE
FROM PREVIOUS—

I
QUARTER
J__

YEAR

777.

j

*♦**

***♦

842.
810.
831.
869.

|
|
1
1

8.4
-3.8
5.1
2.1

****
****

906.
910.
937.
935.

1
I
I
I

4.3
0.4
2.9
-0.1

7.6
12.3
10.1
7.6

1017.
1071.
1074.
1105.

I
|
1
I

8.7
5.3
0.3
2.9

12.3
17.7
14.7
18.1

1079.
1165.
1192.

I
I
1
1__

-2.4
8.0
2.3

6.1
8.8
11.0




11.8

|
1
|
1
|
1
1
1
1
1
1
1
1
1
1
1
l
1
1
1
1
1
i
I
l
i
1
i
i
i
_L