Full text of E.15 Agricultural Finance Databook : October 1978 : Quarterly Series

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AGRICULTURAL FINANCE
DATABOQK

October 1978

Quarterly Series

DISTRICT CREDIT CONDITIONS SURVEYS

Emanuel Melichar
Amy Brooks




320

CHICAGO

330

MINNEAPOLIS

11

340

KANSAS CITY

24

350

DALLAS

29

360

RICHMOND

35

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.

2

AGRICULTURAL FINANCE DATABOOK—QUARTERLY SERIES

320

OCTOBER 1978

CHICAGO

321.1

FARM NON-%EAL-€STATE LENDING EXPERIENCE DURING THE PRECEDING
QUARtER
'«

322.1

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT
QUARTER

323.1

LOAN/DEPOSIT RATIOS

324.1

TYPICAL

325.1

TRENDS I N FARM REAL ESTATE VALUES AND LOAN VOLUME




INTEREST RATES CHARGED ON FARM LOANS

3

*
5

&
8

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
TABLE 3 2 1 . 1
FARM NON-REAL-ESTATE LENDING EXPERIENCE DURING THE PRECEDING QUARTER, COMPARED WITH A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
1
|
1
1
1
1970-01... |
1970-02...1
1970-03...|
1970-04...|
i1
1971-01...1
1971-02...|
1971-03...|
1971-04...|

DATE OF
SURVEY

DEMAND FOR LOANS

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

I

RENEWALS OR 1EXTENSIONS!
1
|
LOWER SAME HIGHER
1
1
62.
20.
|
18.
65.
17.
|
18.
20.
|
10.
71.
74.
17.
|
9.
1
59.
34.
|
7.
30.
|
63.
7.
26.
|
67.
7.
19.
|
72.
9.
j
69.
16.
15.
1
73.
10.
|
17.
74.
19.
7.
I
72.
20.
8.
I
j
26.
|
52.
22.
56.
14.
|
30.
65.
12.
|
23.
64.
28.
8.
1
j
47.
10.
|
43.
47.
12.
|
41.
57.
30.
|
13.
58.
32.
|
11.

SAME

HIGHER

1.
1.
1.
0.

74.
76.
78.
81.

25.
23.
21.
19.

0.
1.
1.
2.

83.
79.
86.
86.

17.
20.
13.
12.

1.
1.
2.
1.

87.
88.
91.
92.

13.
11.
8.
7.

1.
2.
3.
2.

93.
88.
86.
84.

6.
10.
11.
14.

4.
3.
1.
1.

82.
83.
76.
67.

14.
14.
23.
33.

|
|
|
|

1.
1.
0.
1.

69.
71.
78.
81.

30.
29.
22.
18.

23.
26.
17.
20.

1
|
|
|

1.
1.
1.
1.

83.
81.
83.
85.

16.
18.
17.
14.

56.
56.
51.
41.

34.
34.
45.
56.

|
1
1
|

1.
0.
0.
0.

83.
83.
80.
73.

16.
17.
19.
26.

40.
42.
57.
60.

56.
52.
34.
31.

|
|
|
I
1

0.
0.
0.
0.

77.
71.
76.
75.

23.
29.
24.
25.

SAME

HIGHER

I

13.
13.
14.
23.

8.
10.
13.
13.

68.
70.
75.
79.

24.
20.
11.
8.

1
I
1
1

53.
45.
46.
54.

37.
47.
46.
39.

27.
24.
20.
16.

65.
68.
70.
74.

8.
8.
10.
10.

1
1
1
1

6.
5.
8.
4.

44.
41.
45.
45.

50.
54.
47.
50.

12.
6.
5.
3.

70.
72.
76.
74.

18.
22.
20.
23.

I
1
1
r

42.
58.
55.
50.

5.
10.
15.
27.

53.
42.
47.
47.

42.
47.
38.
27.

22.
9.
7.
6.

54.
57.
66.
65.

24.
34.
27.
30.

1
I
I
1

33.
33.
31.
33.

46.
47.
56.
46.

16.
11.
32.
45.

43.
45.
47.
41.

41.
44.
21.
14.

6.
8.
27.
28.

46.
49.
59.
59.

48.
43.
14.
13.

1
1
1
1

25.
19.
13.
14.

28.
29.
32.
40.

47.
52.
55.
46.

29.
22.
14.
10.

43.
49.
51.
49.

28.
29.
35.
41.

37.
44.
30.
15.

46.
48.
60.
64.

17.
8.
10.
21.

I
1
1
1

14.
6.
11.
19.

45.
6.
56.
62.

41.
51.
33.
19.

15.
10.
8.
10.

36 *
39.
37.
40.

49.
51.
55.
50.

11.
11.
9.
13.

48.
48.
48.
49.

41.
41.
43.
38.

21.
18.
14.
19.

59.
64.
69.
69.

21.
18.
16.
12.

1
1
1
1

20.
17.
16.
12.

57.
58.
67.
68.

8.
6.
3.
4.

34.
27.
26.
30.

58.
67.
72.
65.

12.
17.
25.
37.

46.
50.
47.
49.

42.
33.
28.
14.

28.
30.
40.
52.

62.
61.
55.
45.

10.
9.
6.
4.

1
[
1
1

10.
10.
4.
3.

10.
10.
9.
5.

33.
28.
34.
33.

57.
62.
57.
62.

31.
38.
41.
48.

51.
45.
45.
40.

18.
17.
14.
12.

50.
46.
29.
28.

42.
45.
61.
61.

9.
9.
10.
12.

1
1
1
1

5.
7.
9.
9.

SAME

HIGHER

LOWER

SAME

18.
17.
10.
13.

47.
50.
45.
51.

35.
33.
45.
37.

33.
29.
25.
13.

54.
58.
61.
64.

19.
12.
89.
9.

48.
42.
40.
48.

33.
46.
52.
44.

10.
8.
8.
7.

1972-01...|
1972-02... |
1972-03. . . 1
1972-04... |

16.
10.
9.
9.

47.
44.
48.
48.

37.
46.
44.
43.

1973-01...1
1973-02.. .1
1973-03...|
1973-04...|
I1
1974-01...1
1974-02... I
1974-03... |
1974-04...|
I
1
1975-01...1
1975-02... |
1975-03...|
1975-04...|
I1
1976-01... |
1976-02... |
1976-03...1
1976-04... |

12.
10.
11.
14.

45.
32.
34.
36.

21.
20.
14.
20.




HIGHER

COLLATERAL 1REQUIRED
LOWER

LOWER

LOWER

1977-01...|
1977-02... I
1977-03...i
1977-04... 1
1
1978-01...|
1978-02...1
1978-03...|
1978-04... |
1

LOAN REPAYMENT RATE

3

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
4
TABLE 3 2 2 . 1
FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY

TOTAL
I
| LOWER SAME HIGHER

FEEDER CATTLE

DAIRY

LOWER SAME HIGHER

LOWER SAME HIGHER

LOWER SAME HIGHER

1970-02...I
1970-Q3...I
1970-04...|

8.
13.
10.

60.
59.
61.

32.
29.
29.

19.
19.
27.

56.
58.
51.

25.
23.
23.

23.
*•*

69.
***
***

8.
**•
***

***
• **
15.

**•
***
54.

1971-01...!
1971—Q2... 1
1971-Q3... |
1971-04... |

9.
6.
7.
7.

55.
52.
56.
52.

36.
42.
37.
41.

32.
22.
18.
13.

58.
65.
66.
48.

9.
13.
17.
39.

***
***
***
•**

**•
***
*•*
***

***
***

14.
***
***
6.

57.
***
***
53.

1972-01.
1972-02...|
1972-03...1
1972-04...|

10.
6.
7.
10.

53.
48.
60.
50.

38.
46.
33.
40.

13.
16.
18.
19.

60.
59.
50.
43.

27.
24.
32.
38.

13.
14.
**•

76.
72.
***
***

10.
14.
***
***

13.

1973-01...|
1973-02...I
1973-03...1
1973-04...|

12.
8.
10.
22.

42.
31.
46.
35.

46.
61.
45.
42.

15.
23.
38.
28.

55.
43.
38.
40.

30.
34.
24.
32.

14.
15.
24.
23.

73.
66.
60.
61.

1974-01...|
1974-02...|
1974-03...|
1974-04...|

22.
11.
16.
28.

36.
30.
40.
36.

42.
59.
44.
36.

37.
53.
59.
67.

40.
35.
33.
26.

23.
12.
8.
7.

22.
24.
27.
37.

1975-01...1
1975-02...|
1975-03...I
1975-04...|

23.
14.
14.
21.

29.
30.
43.
43.

48.
55.
43.
35.

73.
58.
36.
28.

22.
33.
42.
42.

5.
9.
22.
30.

1976-01...1
1976-02...1
1976-03...1
1976-04...|

13.
8.
9.
10.

43.
39.
46 .
42.

44.
53.
45.
48.

21.
27.
36.
41.

51.
52.
50.
45.

1977-01...1
1977-02...1
1977-03...I
1977-04...|

7.
4.
7.
11.

38.
32.
36.
31.

56.
64.
57.
57.

22.
31.
25.
13.

1978-01...1
1978-02...|
1978-03...1
1978-04... 1

10.
8.
10.
11.

39.
29.
45.
40.

51.
63.
45.
49.

14.
13.
18.
17.




FARM MACHINERY

OPERATING

CROP STORAGE

LOWER SAME HIGHER

LOWER SAME HIGHER

8.
10.
9.

49.
52.
57.

44.
38.
34.

30.
32.
29.

44.
45.
49.

25.
23.
22.

**•
41.

6.
5.
9.
8.

47.
34.
48.
59.

46.
60.
44.
33.

34.
26.
20.
14.

49.
47.
57.
58.

17.
27.
23.
28.

• ••
12.

63.
•••
***
60.

24.
***
***
28.

10.
7.
10.
18.

48.
42.
55.
56.

42.
51.
35.
26.

11.
7.
10.
9.

54.
51.
60.
47.

35.
42.
30.
44.

13.
19.
16.
16.

18.
16.
12.
10.

61.
60.
50.
44.

21.
23.
38.
46.

11.
7.
9.
21.

36.
27.
39.
41 .

52.
66.
52.
39.

8.
5.
9.
12.

39.
26.
39.
30.

53.
69.
53.
58.

60.
59.
62.
51.

17.
17.
11.
11.

20.
17.
14.
16.

50.
57.
57.
43.

29.
26.
30.
41.

16.
7.
6.
12.

28.
19.
28.
30.

56.
74.
66.
58.

15.
8.
22.
25.

28.
28.
37.
36.

56.
64.
42.
40.

44.
33.
25.
27.

48.
56.
66.
64.

8.
11.
9.
9.

23.
23.
17.
14.

47.
53.
57.
53.

30.
24.
27.
32.

9.
4.
7.
18.

21.
18.
32.
42.

70.
78.
61.
40.

25.
28.
26.
15.

35.
36.
40.
40.

39.
36.
34.
45.

28.
21.
14.
14.

23.
22.
26.
23.

66.
65.
61.
65.

11.
13.
13.
11.

14.
17.
16.
12.

53.
57.
55.
50.

33.
25.
29.
38.

9.
7.
7.
8.

36.
31.
38.
40.

55.
62.
56.
52.

12.
11.
12.
16.

43.
38.
45.
41.

45.
51.
43.
43.

54.
53.
54.
50.

24.
16.
20.
37.

20.
21.
17.
18.

67.
62.
71.
69.

13.
18.
12.
12.

11.
14.
12.
11.

50.
54.
44.
26.

38.
32.
44.
63.

4.
2.
4.
9.

31.
21.
29.
30.

65.
77.
66 .
61.

16.
14.
30.
55.

41.
39.
39.
30.

43.
48.
30.
15.

55.
46.
50.
40.

30.
41.
31.
44.

16.
15.
15.
17.

73.
67.
73.
68.

11.
18.
12.
15.

16.
17.
13.
12.

45.
55.
57.
40.

39.
28.
29.
48.

8.
7.
9.
13.

31.
23.
38.
40.

61.
71.
53.
47.

45.
35.
26.
20.

37.
34.
44.
43.

18.
31.
30.
37.

***

***
31.
29.

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
TABLE 3 2 3 . 1
LOAN/DEPOSIT RATIOS

DATE OF
SURVEY

AVERAGE
LOAN/DEPOSIT
RATIO
(PER CENT)

PERCENTAGE OF BANKS REPORTING
THAT LOAN/DEPOSIT RATIO I S —
LOWER
THAN
DESIRED

DESIRABLE

HIGHER
THAN
DESIRED

23.
25.
17.

49.
47.
46.

28.
28.
37.

* * *

***

* * *

1970-01...
1970-Q2...
1970-03...
1970-04...

55.
55.
56.

1971-01...
1971-02...
1971-03...
1971-04...

* * •

* • *

***

**•

54.
55.
55.

44.
47.
45.

41.
35.
38.

15.
18.
17.

1972-01...
1972-02...
1972-03...
1972-04...

54.
54.
55.
55.

46.
52.
49.
55.

36.
34.
32.
31.

17.
14.
19.
14.

1973-01...
1973-02...
1973-03...
1973-04...

54.
54.
55.
56.

51.
51.
45.
41.

32.
32.
34.
37.

17.
17.
20.
22.

1974—01...
1974-02...
1974-03...
1974-04...

55.
54.
58.
57.

48.
52.
36.
30.

32.
31.
37.
38.

20.
17.
27.
32.

1975-01...
1975-02...
1975-03...
1975-04...

57.
56.
56.
57.

32.
35.
39.
42.

36.
37.
39.
36.

32.
28.
22.
22.

1976-01...
1976-02...
1976-03...
1976-04...

57.
56.
57.
59.

42.
44.
43.
41.

34.
36.
33.
34.

23.
20.
24.
25.

1977-01...
1977-02...
1977-03...
1977-04...

59.
59.
61.
64.

39.
35.
32.
22.

35.
37.
30.
32.

26.
28.
38.
46.

1978-01...
1978-02...
1978-03...
1978-04...

62.
64.
64.
66 .

27.
23.
22.
19.

32.
33.
33.
28.

41.
44.
46.
52.




**•

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
TABLE 3 2 4 . 1
TYPICAL INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT)
DATE OF
SURVEY

|
|
i
1
1967-01...!
1967-02...!
1967-Q3...1
1967-04...|
l
1
19 68—01. * . 1
1968-02...|
1968-03... I
1968-04...(
Ii
1969-01...1
1969-02...I
1969-03... |
1969-04... |
I
1
1970-01...1
1970-02...j
1970-03...|
1970-04...I

FEEDER CATTLE
LOANS

OPERATING
LOANS

REAL ESTATE
LOANS

6.42
6.41
6.39
6.42

*
*
*
*

6.52
6.67
6.85
6.86

* * * * *

* * * * *

* * * * *

6.85
7.04
7.19
7.47

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

* * * * *
* * * * *

7.59
7.73
7.78
7.81

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

1971-01...!
1971-02...!
1971-03...!
1971-04...j
1
1
1972-01...!
1972-02...1
1972-03... 1
1972-04...!

7.81
7.58
7.57
7.57

* * * * *
* * * * *

7.54
7.46
7.44
7.47

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

7.69
7.62
7.61
7.64

1973-01...!
1973-02...$
1973-03...!
1973-04...!
I
1
1974-01...!
1974-02...!
1974-03...!
1974-04. . . I
1

7.52
7.55
7.69
8.27

*
*
*
*

*
*
*
*

7.67
7.71
7.81
8.35

8.28
8.30
8.60
9.05

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

8.50
8.39
8.60
9.06




*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

* * * * *
* * * * *

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

*
*
*
*

*
*
*
*

*
*
*
*

* * * * *

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

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

* * * * *
* * * * *

7.81
* * * * *

8.00
* * * * *

8.03
7.76
7.70
7.74

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
TABLE 3 2 4 . 1
T Y P I C A L INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT)
DATE OF
SURVEY

I
I
1
I
1975-Q1...1
1975-02.•• 1
1975-Q3...I
1975-Q4...I
1
1
1976-01.
1976-42...|
1976-Q3...1
X976-Q4...1
1
1977-Q1.•• 1
1977-Q2. .'. 1
1977-Q3...I
1977-Q4...I
1
1978-Q1.•. 1
1978-Q2..•1
1978-Q3...I
1978-04...I
1

FEEDER CATTLE
LOANS




OPERATING
LOANS

REAL ESTATE
LOANS

8.95
8.84
8.76
8.81

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

8.90

9.04
8.94
8.89
8.96

8.80
8.74
8.79
8.76

8.89
8.85
8.88
8.87

8.97
8.95
8.95
8.96

8.71
8.71
8.74
8.79

8.83
8.82
8.84
8.89

8.92
8.91
8.93
8.97

8.85
8.90
9.12
9.40

8.91
9.00
9.21
9.50

9.00
9.07
9.30
9.61

7

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE D I S T R I C T — F ECERAL RESERVE BANK OF CHICAGO
TABLE 3 2 5 . 1
TRENDS I N FARM REAL ESTATE VALUES AND LOAN VOLOFE
MARKET VALUE OF GOOD FARMLAND
i
1
DATE OF
| PERCENTAGE CHANGE I PERCENTAGE OF BANKS EXPECTING
SURVEY
F FROM P R E V I O U S —
I
TREND DURING THE CURRENT
I
QUARTER TO BE
1
YEAR
1 QUARTER
1
UP
1
DOWN
1
STA3LE
1
I
7
***
3 .
1958-02... 1
0.
1
9.
18.
***
1958-03... 1
-1.
^3.
1
5.
22.
***
c3.
1958-04...|
2.
34.
1
3.
I1
***
1959—01.».j
56.
1.
43.
1
1.
***
1959-02...1
bo .
0.
43.
i
i.
* * #
1959-03...|
56.
1.
42.
1
2.
* * *
***
***
* * *
1959-04...|
I
***

LOWER

SAME

HIGHER

***
***
***

***
***

***

* * *

***

***
***
***

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

* * *

* * *

* * *

* * *

I
I
1
i

20.
34.
37.
38.

69.
60.
60.
57.

11.
6.
3.
5.

1
1
1
I
1
1

42.
25.
15.
9.

55.
69 75.
74,

4.
6.
10.
17.

* * *

|

***

* * *

***

**#

4.
*S*
1.

I
j
1

6.

75.

19.

** *

* * *

10.

31,

1.
0.
2.
1.

* * *

1
1
1
1

4.
5.
3.
5.

1.
1.
1.
2.

3.
4.
3.
4.

1.
2.
1.
2.

5.
6.
5.
7.

1960-01...I
1960—02...I
1960-03...|
1960-04...|

-3.
0.
-1.
-1.

1961-01...1
1961-02...|
1961-03...!
196l-0<*...|

-1.
0.
2.
2.

-3.
-3.
-2.
2.

1962-01...1
1962-02...|
1962-02...I
19F>2—0^ . . . 1
1
I
1963-0 - . . t
1963-0*...t
1963-03...t
1963—04,..|
1
1
1964-01...j
1964-02...!
1964-03...j
1964—Q4...j

* $ *

1.

1965-01...1
1965—02...1
1965-03...I
1965-04...|
1




PERCENTAGE CF BANKS EXPECTING
FARM REAL ESTATE LOAN VOLUME
DURING THE CURRENT QUARTER,
AS COMPARED WITH VOLUME MADE
A YEAR EARLIER , TO B E -

***
0.

* * *

***
* * *
* * *

1.
3.
3.

1
1
1
1
1
I
1
1
1
1
, 1, „

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

• * *

***
*#*
***

***

***

* * *

***

* * *

•#*

* * *

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

* * *

***
*•*

***

10.

***

* * *

* * *

76.
71.
74.
59.

20.
24.
23.
36.

***
***

***

* * *

* # *

* * *

* * *

* * *

***

***

***

* * *

2.
1.
2.
1.

61
58.
61.
54.

37.
41.
37.
45.

1.
1.
0.
1.

45.
39.
42.
24.

54.
60.
53.
75.

***

* * *

***

***

* * *

* * *
* * *

* * *

* * *

***

* * *

***

* * *

* * *

* * *

***

***

* * *

***
***

*•*
* * *

* * *

***

2.
***

73.
**•

* * *

• **
***
25.

***

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
TABLE 3 2 5 . 1
TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
PERCENTAGE CHANGE I PERCENTAGE OF BANKS EXPECTING
I
TREND DURING THE CURRENT
<
FROM PREVIOUS—
I
QUARTER TO BE—
1
YEAR
QUARTER
UP
1
DOWN
STABLE
1
74.
26.
8.
1
o.
1966—Ql.••1
2.
83.
17.
10.
1
o.
1966-Q2.•.|
4.
28.
71.
9.
1966-Q3...I
1
1.
1.
65.
34.
9.
1966-04...|
3.
1
1.
1
1
57.
42.
8.
1967—Ql...|
1
1.
2.
56.
44.
7.
1967-02...I
1
1.
2.
51.
48.
5.
1
1.
1967-03... I
1.
45.
53.
6.
1
2.
1967-04... 1
2.
1
1
59.
33.
6.
1
8.
1968-01...1
2.
36.
56.
6.
1968-02... |
1
8.
2.
35.
58.
6.
0.
1
6.
1968-03...|
59.
28.
3.
1
13.
1968-04...|
1.
i
1
68.
24.
5.
1
8.
2.
1969-01... |
62.
24.
1
14.
3.
1969-02...|
1.
66.
22.
4.
I
12.
1969-03...|
2.
66.
14.
4.
1
20.
0.
1969-04... |

DATE OF
SURVEY

|
|

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

SAME

HIGHER

3.

67.

30.

***
* * •

***
* * *

* * *
* * *

4.

64.

33.

* * *
* * •

***
***

* • *
* * *

8.
13.

76.
72.

15.
15.

* * •
* * *

***
* * *

* * *
* * *

27.
28.

63.
62.

11.
10.

12.

81.

7.

• * *
***

***
***

* * *
* * *

44.

50.

15.

1970-01.
1970-02... I
1970-03...|
1970-04... |

0.
1.
0.
0.

4.
1.
-1.
0.

1
1
1
1

22.
21.
15.
17.

64 .
68.
78.
72.

14.
11.
8.
11.

41.

52.

8.

* * *

* * *

* * *

35.
31.

60.
59.

5.
10.

1971-01...1
1971-02... I
1971-03...i
1971-04...I

1.
1.
2.
1.

1.
2.
3.
4.

14.
6.
1.
3.

75.
80.
83.
81.

11.
14.
16.
16.

28.
17.
13.
9.

63 .
68.
75.
76.

9.
15.
11.
15.

1972-01...1
1972-02...I
1972-03... I
1972-04... |

1.
1.
2.
3.

4.
4.
3.
6.

3.
1.
0.
1.

75.
65.
66.
47.

22.
34.
34.
52.

11.
8.
10.
8.

72.
70.
72.
67.

17.
23.
18.
25.

1973-01...1
1973-02...1
1973-03... I
1973-04... 1

2.
6.
4.
8.

7.
11.
13.
17.

1
1
I
1
1
1
1
1
I
1
1
1
1
1
1
1

1.
o.
1.
1.

52.
44.
43.
43.

47.
56.
56.
56.

8.
7.
12.
17.

70.
61.
63.
62.

22.
32.
25.
21.




9

LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF CHICAGO
TABLE 3 2 5 . 1
TRENDS I N FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
I PERCENTAGE CHANGE I PERCENTAGE OF BANKS EXPECTING
I
TREND DURING THE CURRENT
1 FROM PREVIOUS—
|
QUARTER TO BE —
1
YEAR
QUARTER
UP
STABLE
1
DOWN
1
46 .
52.
24.
1
2.
5.
1974—01#••I
44.
53.
|
3.
34.
12.
1974—02* . • |
25.
67.
29.
1
8.
3.
1974-03...1
66.
29.
25.
1
5.
8.
1974-04... |
1
1
14.
77.
23.
1
9.
3.
1975-01... I
13.
79.
1
8.
14.
2.
1975-02...1
13.
|
6.
81.
15.
4.
1975-03... 1
43.
56.
9.
17.
I
1.
1975-04... 1
1
1
29.
68.
22.
1
3.
7.
1976-01...1
31.
67.
27.
1
1.
7.
1976-02...|
41.
58.
30.
6.
1
1.
1976-03... I
55.
43.
29.
8.
1
2.
1976-04... |
i
1
61.
37.
28.
5.
I
2.
1977-01... 1
48.
51.
30.
8.
I
1.
1977-02... 1
65.
26.
30.
4.
1
9.
1977-03... I
56.
10.
18.
1
34.
-1.
1977-04...1

DATE OF
SURVEY

1978-01...1
1978-02...1
1978-03...1
1978-04...I




2.
4.
4.
4.

13.
7.
8.
15.

I
1
(
1
1

16.
6.
3.
3.

74.
71.
74.
69.

10.
23.
23.
28.

PERCENTAGE OF BANKS EXPECTING
FARM REAL ESTATE LOAN VOLUME
DURING THE CURRENT QUARTER,
AS COMPARED WITH VOLUME MADE
A YEAR EARLIER , TO B E LOWER

SAME

17.
11.
26.
35.

64.
62.
61.
54.

19.
27.
13.
11.

34.
26.
23.
20.

56.
62.
68.
68.

9.
12.
9.
12.

15.
11.
17.
15.

73.
71.
65.
67.

13.
18.
18.
19.

16.
12.
18.
36.

64 .
65.
66.
56.

20.
23.
16.
8.

31.
25.
25.
29.

61.
63.
64.
62.

8.
13.
10.
9.

HIGHER

10

AGRICULTURAL FINANCE OATABOOK—QUARTERLY S t R I E S

330

OCTOBER 1978

MINNEAPOLIS

331.1

CURRENT FARM LENDING EXPERIENCE

12

332.1

EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS

14

333.1

AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT
CREDIT A V A I L A B I L I T Y

16

334.1

INTEREST RATES ON FARM LOANS

18

335.1

FARM REAL ESTATE LENDING EXPERIENCE

20

336.1

FARMERS' EARNINGS AND SPENDING

22




SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE SANK OF MINNEAPOLIS
TABLE 3 3 1 . 1
CURRENT FARM LENDING EXPERIENCE
PERCENTAGE OF BANKS REPORTING
CURRENT
DATE OF
SURVEY

EXPERIENCE COMPARED WITH USUAL CONDITIONS

DEMAND FOR NON-REAL-ESTATE LOANS
SHORT-TERM
i
I

1964-Q1... |
1964-02...!
1964-Q3... |
1964-Q4...|
|
1965—Ql.. • |
1965-Q2... |
1965-Q3...I
1965-04... |

INTERMEDIATE-TERM

LOWER

SAME

HIGHER

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.

70.
78.

21.
16.

* * *

* * *

* * *

10.

77.

13.

b.

77.
80.
65.
77.

15.
17.

* * •
* * *

32.

LOWER

SAME

HIGHER

DEMAND FOR DEBT
EXTENSION OR
REFINANCING
LOWER

SAME

HIGHER

6.

3.




29.
40.
42.
40.

46.
52.

70.

1.
2.
4.

14.

53.
53.
60.
63.

43.
40.

75.

4.
7.
8.
25.

67.

10.
6.

20.
16.

64.
70.

16.
14.

5.
9.

52.
53.

43.
38.

2.
2.

11.
21.

38.
43.
62.
63.

60.
55.
27.
16.

53.
46.
26.
11.

* * *

* * *

**#

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

* • *

* * *

* * •

* * *

* * *

* * *

* * *
* * *

20.
15.

50.
65.

30.
20.

23.
10.

* * *

* * *
* * *

* * *

* * *

* * *

* * *

* * *

* * *

* * *

22.

68.

10.

6.

* * *

* * *

* * *

18.
6.
11.
16.

70.
79.
81.
71.

12.
15.
8.
13.

11.

* * *

8.
2.

65.
65.
70.
79.

27.
33.
24.
4.

14.

72.
71.
76.
78.

6.
8.
5.
7.

80.
76.
84.
85.

14.
16.
11.
8.

82.
72.
81.
76.

10.
18.
14.
14.

7.
11.
8.
10.

82.
76.
79.
80.

13.
13.
10.

3.
7.

76.
78.
66.
81.

18.
20.
31.
12.

7.
12.
14.
12.

85.
76.
69.
83.

9.
11.
17.
5.

14.
10.
10.
6.

8.
4.
4.
6.

74.
62.
74.
84.

18.
33.
22.
11.

15.
12.
5.
9.

79.
75.
87.
79.

6.
13.
8.
12.

6.
4.
3.
9.

2.

58,
45.
43.
54.

28.
23.
34.
27.

22.
21.
26.
9.

6.

12.
15.
15.
6.

* * *

76.
76.
72.
87.

5.

10.

* * *
* * *

6.

10.

62.
76.
66.
71.

* * *

* # *

8.

HIGHER

* * *

87.

10.

SAME

* # *

* * *

2.

LOWER

* * *

7.

4.

RAPID

* * *

* * *

2.
3.

USUAL

* * *

9.

3.

14.

SLOW

* * *

j

1966-Q1...|
1966-02... 1
1966-03...|
1966-04... |
j
1967-01... |
1967-02... I
1967-03... 1
1967-04...i
j
1968-01.•. |
1966-02...1
1968-03... 1
1968-04... |
|
1969-01...1
1969-02...t
1969-Q3... 1
1969-04... |
j
1970-01...1
1970-02...|
1970-03...I
1970-04...|
j
1971-01...1
1971-02...I
1971-03...|
1971-04...|

DEBT
REPAYMENT

* * *

* * *

12.

6.
17.
13.
9.

11.

PROPORTION OF FARM
CUSTOMERS LOANED UP
TO THEIR PRACTICAL
DEBT L I M I T , COMPARED
WITH A YEAR EARLIER

16.
10.
6.

26.

84.

•••
80.

74.
83.
89.
87.

1.

0.
2.

* * *

* * *

* * •

16.

74.

10.

15.
1.
1.
7.

18.
9.
6.
10.

76.
83.
81.
80.

6.
8.
13.
10.

1.
0.

7.
10.

17.
14.

14.

68.
61.
66.
72.

25.
29.
32.
14.

73.
75.
82.
82.

12.
19.
16.
11.
16.
18.
26.
20.
29.
28.
22.
13.

6.

15.
20.
13.
8.

12.
19.
11.
6.

84.
79.
87.
89.

67.
73.
77.
82.

19.
17.
13.
12.

11.
14.
16.
16.

82.
85.
82.

2.

10.
8.

1.

3.

62.

2.

5.

75.
75.
71.
75.

58.
71.
85.
83.

36.
25.
12.
8.

38.
25.
19.
9.

59.

4.

3.
3.
3.
6.

69.
69.
75.
81.

0.

75.

81.
87.

12.

14.

73.
74.
83.
80.

26.

32.

4.
2 .
2.
5.

7.

0.
1.
3.

2.

15.
6.
2.

7.

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 1 . 1
CURRENT FARM LENDING EXPERIENCE
PERCENTAGE OF BANKS REPORTING
PROPORTION OF FARM
CUSTOMERS LOANED UP
TO THEIR PRACTICAL
DEBT L I M I T , COMPARED
WITH A YEAR EARLIER

CURRENT EXPERIENCE COMPARED WITH USUAL CONDITIONS
DEMAND FOR NON-REAL-ESTATE LOANS

DATE OF
SURVEY

INTERMEDIATE-TERM

SHORT-TERM
1
1972-Q1...I
1972-02...1
1972-03,..1
1972-04...|
1
1973-01...|
1973-02...|
1973-03...|
1973-04...1
1
1974-01...I
1974-02...1
1974-03...1
1974-04...|

DEMAND FOR DEBT
EXTENSION OR
REFINANCING

DEBT
REPAYMENT

6.
2.
2.
11.

79.
85.
84.
81.

15.
13.
13.
7.

5.
2.
5.
5.

85.
85.
85.
85.

10.
13.
10.
10.

10.
4.
5.
16.

74.
81.
87.
79.

15.
15.
8.
5.

18.
12.
7.
2.

77.
86.
92.
86.

6.
2.
1.
12.

12.
9.
9.
17.

76.
79.
83.
79.

12.
12.
7.
4.

17.
13.
8.
20.

72.
64.
72.
67.

12.
23.
20.
13.

7.
5.
5.
11.

85.
77.
81.
71.

9.
18.
14.
17.

30.
24.
19.
44.

66 .
69.
77.
54.

4.
6.
5.
2.

0.
2.
1.
3.

74.
76.
60.
56.

26.
23.
18.
40.

30.
36.
28.
43.

68.
61.
71.
56.

1.
3.
2.
1.

19.
25.
6.
12.

62.
54.
66.
65.

19.
21.
28.
24.

14.
14.
11.
16.

77.
74.
77.
72.

9.
12.
12.
12.

42.
40.
20.
17.

53.
50.
64.
59.

5.
10.
16.
24.

4.
6.
23.
35.

61.
66 .
71.
57.

36.
28.
6.
8.

44.
41.
19.
16.

55.
56.
57.
57.

1.
3.
23.
27.

1975-01...1
1975-02...1
1975-03...I
1975-04...|
1
1976-01...1
1976-02...1
1976-03...1
1976-04...1

15.
11.
9.
12.

55.
59.
56.
79.

30.
30.
35.
10.

23.
13.
17.
15.

67.
71.
68.
74.

10.
16.
15.
12.

7.
8.
7.
13.

49.
47.
52.
63.

45.
45.
41.
24.

52.
50.
34.
21.

40.
45.
65.
74.

8.
5.
1.
4.

10.
10.
6.
12.

51.
45.
56.
63.

38.
45.
37.
25.

7.
4.
8.
13.

64.
75.
61.
57.

30.
20.
31.
30.

12.
9.
20.
23.

73.
78.
70.
63.

15.
13.
9.
14.

4.
4.
5.
1.

58.
54.
61.
51.

38.
42.
34.
47.

31.
42.
35.
60.

68 .
58.
63.
38.

1.
0.
2.
2.

9.
6.
3.
2.

61.
62.
61.
56.

31.
32.
36.
42.

1977-01...1
1977-02...I
1977-03...t
1977-04...|
1
1978-01...1
1978-02...1
1978-03...|
1978-04...|
1

9.
8.
3.
8.

55.
53.
60 .
60.

37.
39.
37.
31.

25.
25.
20.
22.

50.
58.
66.
56.

25.
17.
14.
21.

1.
1.
2.
1.

30.
34.
43.
38.

69.
64.
55.
61.

75.
75.
62.
74.

25.
25.
38.
26.

C.
1.
0.
0.

2.
1.
1.
2.

44.
49.
45.
47.

55.
51.
55.
52.

6.
5.
1.
6.

69.
66.
72.
63.

26.
29.
28.
31.

22.
13.
6.
7.

67.
73.
75.
72.

11.
14.
19.
22.

1.
2.
4.
10.

36.
50.
76.
73.

63.
48.
20.
17.

61.
55.
28.
28.

39.
45.
67.
67.

1.
0.
5.
4.

6.
7.
16.
23.

45.
61.
62.
62.

50.
31.
22.
15.




13

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 2 . 1
EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS
PERCENTAGE OF BANKS REPORTING
EXPECTED DEMAND FOR FARM LOANS IN CURRENT
1
QUARTER, COMPARED WITH USUAL CONDITIONS
1
DATE OF
|
SURVEY
I NON-REAL -ESTATE LOANS I
DEBT EXTENSION
|
OR REFINANCING
1
1
1
1 LOWER SAME HIGHER
1 ISOMER SAME HIGHER
1
* * *
* * *
|
•**
6.
1964-01...1
73.
21.
j
***
* * *
* * *
1964—Q2... I
5.
72.
23.
1964-03...|
66.
5.
30.
73.
22.
1
4.
1964-04...|
4.
64.
59.
40.
32.
I
1.
1
1
1965-01...|
54.
49.
49.
44.
2.
1
1.
1965-02...|
3.
48.
47.
50.
51 .
1
1.
1965-03...|
9.
69.
17.
74.
17.
1
14.
1965-04...|
19.
20.
68.
53.
12.
1
28.
j
1

1966-01...|
1966-02...1
1966-03...|
1966-04...|

1
1

5.
4.

72.
78.
* * *

***

14.

72.

14.

***

23.
18.

1967-Q1...I
1967-02...|
1967-03...1
1967-04...|

6.
3.
4.
13.

87.
76.
82.
73.

7.
21.
14.
14.

19 0 8 —01. . . 1
1 ^b-02...|
IS- o d - 0 3 . . . |
1968-04...|
i
1
1969-41...I
1969-02...1
19o9-Q3...|
1969-Q4...|

6.
6.
4.
7.

81.
74.
79.
80.

13.
20.
17.
13.

6.
4.
8.

82.
75.

10.

75.
79.

12.
21.
17.
11.

19 7 0 - w 1 . . . |
1970-Q2...I
1970-u3...1
19 7 0 — 0 4 . . . |

2.
5.
7.
8.

81.
73.
80 .
79.

17.
23.
14.
13.

j

j

1971-01...I
1971-02...|
1971-03...|
1971-04...1




5.
3.
2.
9.

76.
69.
88.
76.

19.
28.
11.
14.

|

14.
11.

***

66 .
76.
* * *

1

26.

64 .

1
1

1
1

13.
3.

1

4.

1

13.

1
1
1
1
1

6.
0.
4.

1

12.

1

11.

1
1

5.
7.

1
i
1

11.

1

7.

1

6.

1

7.

1

8.

1
I
1
1
1
1

3.
3.
3.
13.

20.
13.
10.

79.
81.
87.
74.

8.
16.
9.
13.

64.
70.
79.
71.

30.
30.
17.
17.

75.
75.
82.
79.

14.
20.

1
1 ADVERSE CHANGE
I
EXPECTED I N
I FARMERS1 A B I L I T Y
I
TO REPAY DEBTS
U N THE NEAR FUTURE
1
1
1
35.
1
52.
1
48.
1
47.
1
1

1
t
I
1
1

1

48.
32.
23.
22.
10.
7.

|

***

1

5.

1

1
1

1
1

9.
21.
15.
30.

1
1
1

30.
35.
27.
28.

10.

1
1
1
1

14.
20.
21.
15.

76.
78.
78.
71.

17.
15.
15.
20.

1
I
1
1

17.
15.
17.
19.

71.
75.

26.
22.
10.
13.

I
1

26.
21.
17.
19.

86.

75.

11.

1

1
1
1

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 2 . 1
EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS
PERCENTAGE OF BANKS REPORTING
EXPECTED DEMAND FOR FARM LOANS IN CURRENT
QUARTER, COMPARED WITH USUAL CONDITIONS
DATE OF
SURVEY

|
| NON-REAL -ESTATE LOANS I
I
1
1
LOWER SAME HIGHER
1
12.
85.
3.
1
1972-01...|
14.
83.
2.
1
1972-02...|
7.
88.
1
4.
1972-03...|
15.
69.
1
16.
1972-04...|
1
8.
70.
1
22.
1973-01... |
19.
76.
1
5.
1973-02... |
14.
5.
81.
1
1973-03...1
15.
1
33.
51.
1973-04...|
j
59.
6.
1
36.
1974-01...1
24.
62.
14.
1
1974-02...|
9.
63.
28.
1
1974-03...|
35.
53.
11.
1
1974-04...|
1
29.
51.
20.
1
1975-01...1
49.
41.
1
10.
1975-02...I
23.
70.
I
1975-03...1
7.
16.
72.
I
1975-04...|
12.
j
1
27.
4.
70.
1
1976-01...1
19.
3.
78.
1
1976-02...|
65.
26.
9.
1
1976-03...|
42.
51.
7.
I
1976-04...|
i
1
44.
46,
10.
1
1977-01...|
46.
46.
7.
1
1977-02...I
31.
8.
61.
1
1977-03...|
56.
41.
3.
I
1977-04...I
1
34.
59.
7.
1
1978—01.. . |
39.
58.
3.
1
1976-02... |
69.
27.
I
4.
1978-03... I
64.
24.
12.
I
1978-04...#
1




1
I
ADVERSE CHANGE
1
EXPECTED I N
I FARMERS' A B I L I T Y
DEBT EXTENSION
1 TO REPAY DEBTS
OR REFINANCING
1 I N THE NEAR FUTURE
LOWER SAMfc HlfibEfi. . 1
1
16.
1
14.
77.
7.
83.
13.
1
8.
4.
6.
87.
1
17.
7.
65.
10.
1
5.
25.
1
69.
4.
1
5.
27.
8.
77.
1
3.
16.
5.
80.
1
9.
15.
8.
44.
I
6.
48.
i
50.
4.
1
9.
46.
10.
63.
1
24.
27.
66.
28.
1
59.
6.
42.
47.
I
56.
11.
j
45.
I
62.
38.
17.
48.
44.
I
63.
8.
25.
71.
1
31.
4.
25.
65.
I
20.
10.
1
|
29.
36.
62.
1.
22.
1
34.
75.
3.
55.
40.
I
58.
5
29.
71.
I
70.
1.
I
79.
1
73.
21.
1.
60.
39.
I
66.
1.
54.
41.
I
60.
5.
66 .
34.
I
58.
0.
j
51.
47.
I
48.
2.
35.
64 .
I
33.
2.
14.
i
12.
76.
10.
19.
I
20.
62.
20.
1

15

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
16
TABLE 3 3 3 . 1
AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y
NUMBER OF FARM LOAN REQUESTS REFERRED TO—
|EXPECT PROBLEMS
REFUSED OR |
I N MEETING
REDUCED A (ACTIVELY!
I
NONBANK AGENCIES
CORRESPONDENT BANKS
FARM LOAN (SEEKING I NORMAL FARM
AVERAGE
REQUEST I N 1 NEW
| LOAN REQUESTS
LOAN/DEPOSIT
|
FARM | I N CURRENT
1
1 COMPARED WITH
PREVIOUS
HIGHER
1 COMPARED WITH
LOWER
RATIO
USUAL NUMBER
USUAL NUMBER
INONEI
QUARTER DUE 1 LOAN
I QUARTER DUE TO NONEI
DESIRABLE THAN
(PER CENT)
THAN
1
1
1
DESIRED TO SHORTAGE I ACCOUNTS 1 A V A I L A B I L I T Y
DESIRED
1 LOWER SAME H I G H E R 1
OF FUNDS
1
1
OF FUNDS
1 LOWER SAME HIGHER
LOAN/DEPOSIT RATIO I S —

DATE OF
SURVEY

1964—Q1.
1964-Q2.
1964-Q3.
1964-04.

* * * * * * *

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

• •

***
***
***
23.

***
***
***
56.

***
***
***
21.

5.
6.
8.
4.

81.
76.
68.
70.

5.
6.
8.
3.

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

* * *

* * *

* * *

14.
23.
20.

71.
68.
73.

15.

18.
20.
18.
16.

59.
65.
60.
62.

22.
15.
22.
22.

6.
4.
7.
3.

72.
67.
71.
76.

5.
4.
3.
2.

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

16.
10.
7.
15.

83.
83.
85.
80.

70.

13.
19.
***
17.

3.
3.
72.
6.
73.
10.
******************************
56.
13.
13.

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

10.
5.

83.
90.

* * *

* * *

11.

82.

6.
8.

6.

91.

1.

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

4.
4.

***
* * *

1965-01.
1965-02.
1965-03.
1965-04.

* * * * * * *

1966—01•
1966-02.
1966-03.
1966—04.

* * * * * * *

17.

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

20.

1967-01.
1967-02.
1967-03.
1967-04.
1968-01.
1968-02.
1968-03.
1968-04.
1969-Q1.
1969-02.
1969-03.
1969-04.
1970-01.
1970-02.
1970-03.
1970-04.

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

***
14.

61.
***
69.

16.
20.
17.
19.

67.
60.
63.
63.

20.
20.

*******

22.

* * * * * * *

*******

22.
11.
23.

• •

52.
56.
58.
59.

• •

* * * * * * *

• •

18.

11.
14.
26.
5.

61.
64.
62.
73.

65.
56.
62.
64.

13.
20.
27.
13.

5.
5.
17.
6.

95.

33.
26.
16.
13.

60.
59.
64.
64.

7.

15.
20.
23.

4.
8.
18.
15.

77.
70.
52.
45.

56.
58.
61.
59.

18.
15.

62.

20.

8.

53.
48.
61.

33.
47.
31.

18.
23.
32.
22.

58.
59.
61.
60.

13.
16.

62.
60.

14.

11.

65.
67.

24.
24.
23.
16.

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

• •

* * * * * * *
• •

1971-01.
1971-02.
1971-03.
1971-04.
i




5.

17.

17.

9.
9.

6.

9.

7.

1 . j ***
7. i ***
8. j * * *
5. i * * *
7.

j

***

5.
***
7.

i

***

3.
8.

5.
3.

83.
84.

11 .

91.

6.

***
***

13.
17.
5.
10.

82.
76.
88.
84.

7.
7.

11.
9.

***
43.
32.
37.

16.
4.
4.
6.

79.
47.
61.
53.

47.
38.
32.
35.

10.
18.
19.
7.

37.
38.
43.
43.

4.
5.
2.
3.

55.
50.
47.
46.

48.
56.
57.
63.

6.

42.
44.
43.
47.

2.
3.

52.
45.
52.
45.

65.
55.
66.

7.

10.

2.
1.
7.

5.
5.

4,

9.

1.

6.

***
***
i ***
i ***

j
j

j
j

i

j
j
j

***
***

***

***

***
***

12.
8.
14.

***
75.
82.
81.

***
13.
10.
5.

?.
b.
7.
7.

72.
66.
81.
85.

20.
28.
12.
8.

11.
6.
***

79.

84.
***
87.

10.
10.
***
4.

3.
5.
10.

86.
86.
92.
88.

5.
11.
3.
2.

* * *

9.
9.

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

6.
3.
4.
9.

83.
88.
89.
88.

11.

6.

j
j
j
j

5.
6.
3.
4.

i
1
1
1

***
24.
21.
28.

11.
4.
2.
3.

83.
61.
71.
59.

6.
11.
6.
10.

3.
8.
8.

1
1
1
I

23.
24.
20.
30.

2.
1.
1.
3.

64.
65.
66.
58.

11.
11.
12.
10.

5.
8.
4.
3.

1
1
I
1

22.
20.
28.
30.

2.

61.

1.

66.

16.
14.

1.
2.

62.
65.

5.

7.

9.
7.

3.

9.

3.

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 3 * 1
AVERAGE LOAN/DEPOSIT R A T I O , AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y
REFUSED OR I
(EXPECT PROBLEMS
NUMBER OF FARM LOAN REQUESTS REFERRED T O —
REDUCfcO A |ACTIVELY I
I N MEETING
AVERAGE
FARM LOAN I SEEKING |
NORMAL FARM
CORRESPONDENT BANKS
NONBANK AGENCIES
LOAN/DEPOSIT
REQUEST I N |
NEW
| LOAN REQUESTS
RATIO
LOWER
HIGHER
PREVIOUS
I
FARM
|
I N CURRENT
I COMPARED WITH
I COMPARED WITH
(PER CENT)
THAN
DESIRABLE
THAN
QUARTER DUE I
LOAN
|QUARTER DUE TO NONE I
USUAL NUMBER
NONE!
USUAL NUMBER
DESIRED
DESIRED TO SHORTAGE I ACCOUNTS I A V A I L A B I L I T Y
I.
I
UP FUNDS
1
I
OF FUNDS
I LOWER SAME HIGHER
1 LOWER SAME HIGH6ft
LOAN/DEPOSIT RATIO I S —

DATE OF
SURVEY

1972-01..
1972-Q2..
1972-03..
1972-04..
1973—Ql.•
1973—02..
1973-03..
1973-04..

58.
58.

28.
28.

59.

17.
23.

71.
71.

58.
58.

32.
36.

62.

61.
61.

26.
29.

20.

1974-01..
1974-02...
1974-03..,
1974-04.

61.
63.
63.
65.

29.
13.
7.

1975-01..,
1975-02..,
1975-03...
1975-04..,

64.
63.
63.
63.

10.

1976-01...
19 7 6 - 0 2 . . .
1976-03...
1976-04...

63.
63.
65.

1977-02...
1977-02...
1977-03...
19 7 7 - 0 4 . . .

64.
63.

1978-01...
1978-02...
1978-03...
1978-04...




60.
60.

60.

66.

66 *

68.

67.
67.
70.
71.

13.

12.
13.

6.
6.

58.
58.
56.

7.
15.
15.

65.
59.

11.

15.

4.
5.
2.
2.

67.
69.
68.
72.

2.
5.
2.
3.

I
1
I
1
i

49.
51.
50.
52.

2.
3.
1.
4.

42.
42.
43.
41.

6.
5.
6.
2.

29.
30.
34.
37.

1.
1.
1.
4.

66.
61.
62.
58.

5
6
3
2

2.
5.
5.
9.

75.
78.
71.
62.

2.
2.
4.
8.

47.
47.
42.
45.

2.
3.
2.
5.

44.
44.
49.
45.

7.
7.
7.
6.

35.
36.
34.
37.

5.
5.
2.
4.

58.
58.
61.
54.

2
2
3
5

6.
4.
18.
35.

69.
76.
46.
27.

5.
4.
20.
30.

1
I
1
1
1
1
1
1
1
j
1
1
1
1
1
I
1
1
I
j
1
1
1
1
j
1
1
1
1

51.
44.
38.
41.

2.
6.
5.
6.

43.
46.
46 .
47.

5.
4.
9.
7.

45.
39.
28.
32.

3.
4.
3.
1.

49.
56.
64.
48.

3
2
6
19

40.
47.
47.
43.

6.
6.
3.
6.

46.
40.
44.
49.

8.
6.
6.
2.

24.
31.
32.
35.

1.
2.
2.
2.

51.
40.
54.
54.

24
27
11
9,

42.
38.
42.
38.

4.
3.
1.
4.

49.
54.
46.
49.

6.
5.
10.
8.

28.
26.
30.
27.

3.
1.
0.
2.

53.
60.
58.
57.

16,
13,
12,
14,

40.
45.
37.
37.

3.
2.
1.
0.

50.
44.
49.
54.

6.
9.
13.
8.

22.
23.
23.
22.

1.
0.
0.
1.

50.
44.
43.
52.

27,
33,
28,
25.

38.
43.
39.
37.

4.
2.
2.
2.

51.
49.
52.
50.

7.
7.
7.
10.

19.
23,
26.
21.

0.
2.
0.
2.

50.
48.
58.
63.

31,
26,
16.
15.

60.

27.
39.

6.

34.
19.

18.

56.
70.
74.
64.

21.
18.

27.
13.
11.
8.

30.
43.
51.
61.

14.
14.
4.
4.

17.
17.

67.
67.

16.

16.

5.
7.
9.
10.

62.
63.
54.
55.

4.
3.
10.
12.

54.
56.
58.
58.

6.
7.
7.
8.

61.
66.
54.
49.

7.
9.
17.
19.

11.

12.
19.
17.

20.
16.

12.

15.

12.

8.

6.

54.

62.
55.
64.

26.
26.
18.

55.
53.

29.
35.

10.
7.
12.
11.

51.
58.
54.
48.

34.
31.
38.
46.

10.
12.
14.
19.

61.

20.

17

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 4 , 1
INTEREST RATES ON FARM LOANS

DATE OF
SURVEY

MOST COMMON INTEREST RATES CHARGED ON FARM LOANS|
(AVERAGE, PER CENT)
NON-REAL-ESTATE LOANS
SHORT-

INTERMEDIATE—

LONG-TERM
REAL ESTATE
LOANS

TERM

1964-Ql..•
1964-02...
1964-03...
1964-04...

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

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

1965—Q1...
1965-02...
1965-03...
1965-04. . .

*****
*****

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

1966-01...
1966-02...
1966-03...
1966-04...

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

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

1967-01...
1967-04...

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

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

*****
*****

|
|

1966-01...
1968-02...
1968-03...
1968-04...

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

*****

*****

|

*****

*****

j

1969—Q1...
1969-02...
1969-03. . .
1969-Q4...

7.36
7.62
7.90
8.02

1967-02...
1967-03...

1970-01...
1970-W2...
1970-03...
1970-Q4...
1971- ) 1 . . .
1971-Q2...
1971—Q3...
1971-14. . .




*****

*****

8.09
8.38
8.3 b
8.42
8.37
8.19
8.16
6.16

*****
*****
7.40

7.66
8.00

8.07
8.19

8.50
8.49

8.56
8.45
8.28
8.27
8.23

*****
*****

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

TREND I N INTEREST RATES (PERCENTAGE OF BANKS REPORTING)

SHORT-TERM
INTERMEDIATE -TERM
1
| NON-1REAL-ESTATE LOANS 1
LOANS
|
1
| DOWN-LITTLE
UPI DOWN- L I T T L E
UPWARD
CHANGE
WARD
1 WARD
CHANGE
WARD

TERM

|
j

*
|

6.

1.
2.
3.

84.
84.
86.
92.

10.
15.
12.
5.
12.
9.
12.
15.

*****

|

j

1.

87.

*****
* * * * *

j
j

0.
1.
1.

91.

*****

j

* * * * *
* * * * *

j
j

*****

|

*****

|

* * * * *

j

*****

|

* * * * *

j

7.15
7.44
7.83
8.00

|
|
|
|

8.15
8.42
8.46
8.45
8.35
8.06
8.00
8.06

|
1
|
|
|
j

|
j

18

0.
0.

87.
84.
68.
22.

1

***

***

32.
78.
***

0.

17.

83.

0.
2.
5.

58.
77.

1.

75.

0.
0.
0.

39.
43.

1.

54.

1.

55.

0.
0.
0.

26.

16.

12.
8.

26.

0.
0.

39.
32.

1.
1.

61.
81.

14.
46 .
17.
8.

82.
53.
79.
92.

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

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

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

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

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

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

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

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

74.
40.
18.
24.

|
|
|
|

***
***

61.
57.
84.
45.

1
|
|
|
|

***
***
***

44.
88.
92.
74.

|
|
|
|

61.

***

***

***
***

***
***

1

|

68.

|

39.

|

***
***
***

18.

|

*** ,

4.
1.
4.
0.

1
|
|
|
|

***

1

***
***
***

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

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

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

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

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

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

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

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

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

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

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

***
***

***
***

1
1
1 DuWN1 HARD
1
I

REAL ESTATE
LOANS
LITTLE
CHANGE

UPWARD

6.

61.

3.

87.
89.
89.

13.
10.
10.
9.

1

1.

1
1

2.

1

o.

1
1
1

3.
3.
1.

1
1
1
|

o.
o.

***

66 .
26.

***

***

1

1.

9.

90.

2.
6.
5.

18.

51.

80.
43.

76.

1.

66 .

1
1
1

1
1
1
I
I

1.
0.

88.
86.
85.

94.

12.
11.
12.
5.
34.
74.

19.
33.

19.

80.

24.
13.

76.
87.

1

o.

1
1
1
I
I

0.

47.

0.
0.
0.

53.
6.
9.

1

o.

26.

1.

34.
39.
56.
75.

65.

8a.
53.
7^.

8.
3.

89.

4.

1
1
1
I
1
1
1
1
|
1
1

2.
1.
2.

10.
44.
21.
7.

53.

47.
92.
91.
74.
59.
43.
23.

5,

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 4 . 1
INTEREST RATES ON FARM LOANS

DATE OF
SURVEY

MOST COMMON INTEREST RATES CHARGED ON FARM LOANS 1
(AVERAGE, PER CENT)
NON-REAL—ESTATE LOANS
SHORTTERM

INTERMEDIATETERM

LONG-TERM
REAL ESTATE
LOANS

TREND I N INTEREST RATES (PERCENTAGE OF BANKS REPORTING)

SHORT-TERM
INTERMEDIATE -TERM
1
| NON-REAL-ESTATE LOANS 1
LOANS
|
»
| DOWN- L I T T L E
UP| DOWN- L I T T L E
UPCHANGE
WARD
1 WARD
CHANGE
WARD
WARD

1972-01...
1972-02...
1972-03...
1972-04...

8.09
8.02
8.03
8.0 2

8.23
8.13
8.13
8.15

7.96
7.87
7.90
7.91

|
|
|
|

30.
26.
15.
4.

70.
74.
83.
89.

0.
0.
2.
8.

1973-01...
1973-Q2...
1973-03...
1973-04...

8.06
8.08
8.18
8.55

8.20
8.20
8.26
8.67

7.92
7.95
8.05
8.43

1
|
|
|

4.
0.
1.
0.

67.
76.
60.
28.

9.
24.
39.
72.

1974-01...
1974-02...
1974-03...
1974-04...

8.56
8.53
8.82
9.04

8.74
8.65
9.05
9.33

8.45
8.43
8.70
8.91

1
|
|
1

0.
1.
0.
0.

58.
81.
41.
37.

42.
18.
59.
63.

1975-01...
1975-02...
1975-03...
1975-04...

9.11
9.03
9.00
8.99

9.35
9.25
9.23
9.27

9.00
8.86
8.88
8.98

|
1
|
|

2.
15.
17.
2.

64.
71.
71.
82.

34.
15.
11.
16.

1976-01...
1976-02...
1976-03...
1976-04...

9.05
9.09
9.15
9.18

9.27
9.30
9.45
9.43

9.07
9.08
9.17
9.17

|
|
i
1

4.
11.
4.
3.

86.
78.
69.
88.

10.
11.
28.
10.

1977-01...
1977-02...
1977-03...
1977-04...

9.15
9.21
9.17
9.18

9.43
9.45
9.53
9.52

9.15
9.17
9.21
9.22

|
1
|
|

14.
12.
5.
1.

80.
82.
88.
87.

6.
6.
7.
12.

1978-01...
1978-02...
1978-03...
1978-04...

9.22
9.20
9.38
9.51

9.47
9.50
9.71
9.81

9.21
9.23
9.47
9.62

|
1
|
|

2.
0.

76 *
55.
32.
20.

22.
45.
68.
80.




0.
0.

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

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

•
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
•
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
•
*

*
*
*
*

•
*
*
*

*
*
*
*

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

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
•

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

* • *
* * *
* * *
***

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
•
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
*

* * *
* * •
* * *
*
*
*
*

*
*
*
*

*
*
*
*

*
*
*
•

REAL ESTATE
1
LOANS
1
1
UPLITTLE
1 DOWNCHANGE
WARD
t WARD
I
1.
81.
1
17.
70.
1.
1 29.
79.
3.
1
18.
92.
4.
I
4.
1
5.
91.
1
4.
83.
18.
1
0.
70.
30.
1
1.
28.
72.
1
o.
1
60.
39.
1
1.
85.
14.
1
1.
53.
47.
1
0.
59.
41.
1
0.
1
74.
25.
1
1.
81.
8.
1
11.
85.
7.
I
8.
82.
16.
1
1.
1
90.
8.
1
2.
85.
10.
1
4.
20.
77.
1
3.
89.
8.
1
3.
1
84.
1
13.
2.
85.
4.
1
11.
90.
6.
1
4.
94.
5.
1
1.
1
83.
12.
1
5.
1
0.
72.
28.
45.
55.
1
o.
35.
65.
1
0.
1

19

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 5 . 1
FARM REAL ESTATE LENDING EXPERIENCE
PERCENTAGE OF BANKS REPORTING
DEMAND FOR FARM REAL ESTATE LOANS,
AS COMPARED WITH USUAL CONDITIONS
DATE OF
SURVEY

1964-01.
1964-02...|
1964-03...|
1964-04...I
1965-01...i
1965-02... I
1965-03...1
1965-04...|
1
1
1966-01...1
1966-02...|
1966-03... |
1966^04.•*|

CURRENT
(DATE OF SURVEY)

EXPECTED DURING THE
CURRENT QUARTER

* * *

* * *

* * *

12.
15.
27.

50.
55.
47.

38.
30.
26.

11.
7.
7.
12.

68.
74.
69.
64 .

21.
19.
24.
24.

8.
5.
9.
11.

54.
50.
70.
65.

38.
45.
21.
24.

6.
3.
9.
6.

65.
60.
77.
77.

29.
37.
14.
17.

6.
5.

66 .
64.

26.
31.

5.
3.

71.
81.

24.
16.

* * *

* * *

* * *

* * *

17.

62.

21.

12.

73.

15.

* * •

1967-01...|
1967-02...|
1967-03... |
1967-04...|
j
1968-01...1
1968-02...1
1968-03...i
1968-04...|

38.
24.
23.
24.

53.
62.
69.
64 .

9.
14.
8.
12.

27.
15.
16.
15.

68.
77.
79.
82.

5.
8.
5.
3.

18.
10.
23.
27.

68.
65.
65.
63.

14.
25.
12.
10.

17.
10.
23.
21.

71.
75.
72.
71.

12.
15.
5.
8.

1969-01...I
1969-02... |
1969-03...|
1969-04...|

24.
32.
3b.
10.

71.
58.
56.
80.

5.
10.
6.
10.

22.
28.
38.
41.

74.
67.
58.
53.

4.
5.
4.
6.

1970-01...|
1970-02... |
1970-03...|
1970-04...|
j
1971-01...|
1971-02... |
1971-03...t
1971-04...|

47.
49.
40.
46.

47.
39.
49.
48.

6.
12.
11.
6.

38.
41.
35.
33.

56.
53.
61.
63.

7.
5.
4.
4.

35.
30.
14.
18.

59.
60.
77.
73.

6.
9.
10.
8.

25.
17.
13.
15.

69.
75.
80.
77.

6.
8.
7.
8.




SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 5 . 1
FARM REAL ESTATE LENDING EXPERIENCE
PERCENTAGE OF BANKS REPORTING
DEMAND FOR FARM REAL ESTATE LOANS,
AS COMPARED WITH USUAL CONDITIONS
DATE OF
SURVEY

|
1
I
1
1
1972-01...I
1972-02...I
1972-03...|
1972-04...|

1973-01...1
1973-02...I
1973—03.. . I
1973-Q4...I
j
1974-01...|
1974-02...I
1974-03...1
1974—04...|
1975-01. . . |
1975-02...1
1975-03...|
1975-04...1
l
1
1976-01...1
1976-02...I
1976-03...|
1976-04...|
1
1
1977-01...I
1977-02...|
1977-03...|
1977-04...|
i1
1978-01...|
1978-02...1
1978-03...1
1978-04...1
1

CURRENT
(DATE QF SURVEY)
HIGHER

EXPECTED DURING THE
CURRENT QUARTER
LOWER

SAME

6.
14.
12.
10.

11.
4.
9.
10.

85.
88.
86.
84.

4.
8.
5.
6.

80.
11 9
80.
74.

10.
19.
14.
13.

8.
6.
7.
15.

86.
83.
87.
74.

6.
11.
7.
11.

20.
13.
24.
25.

74.
69.
66.
65.

7.
18.
10.
10.

21.
14.
18.
24.

76.
76.
77.
67.

3.
10.
5.
10.

26.
27.
23.
17.

58.
55.
64.
73.

16.
18.
14.
10.

25.
20.
17.
15.

59.
63.
74.
74.

16.
18.
9.
11.

22.
10.
18.
15.

67.
71.
66.
70.

11.
19.
15.
15.

13.
7.
14.
14.

75.
81.
72.
68.

12.
12.
14.
18.

16.
14.
19.
15.

65.
55.
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.
19.
14.

16.
17.
11.
10.

58.
72 .
77.
78.

26.
12.
12.
12.

LOWER

SAME

12.
8.
12.
10.

81,
78.
76.
80.

10.
4.
7.
13.




HIGHER

21

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 6 . 1
FARMERS1 EARNINGS AND SPENDING, COMPARED WITH PREVIOUS YEAR
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY

EARNINGS OF BANKS '

1

1
|

CURRENT (DATE OF SURVEY)

I
1
i

1964-Q1...|
1964-02...I
1964-03... I
1964-04... |

1

1965-01... |
1965-02... I
1965-03,..!
1965-04...|

1

1966-01...|
1966-02...I
1966-03... I
1966—04...I

LOWER

SAMb

HIGHER

|
1

1

* * •

12.
13.
13.

44.
50.
24.
11.

46.
40.
52.
50.

10.
10.
24.
39.

1

47.
44.
13.
13.

43.
46.
56.
40.

10.
10.
31.
47.

13.
7.

47.
59.

40.
34.

1

39.
41.

***

•**

3.

60.

1
|
1
I

8.
22.

56.
56.
62.
59.

5.

I

10.

1

22.
30.

I
|

12.
16.

59.
55.
68.
65.

19.
15.
20.
19.
21.
21.
20.
18.

1
1
I

18.

67.
63.
66.
64.

1
I

1

17.
7.

16.
16.

67.
77.

1
|

10.
2.

26.
26.

64.
72.

|
|
I
|
|
I
j

75.

|

1.

23.

76.

I

12.
39.
16.
43.

51.
49.
54.
43.

37.
12.
30.
14.

41.
26.
26.
26.

54.
64.
55.
46.

19.
28.

12.
11.
14.
11.

69.
60.
39.
45.

19.
29.
47.
44.

|
|
|
I

7.
9.
15.
27.

59.
56.
60.
56.

35.
35.
25.
16.

1
I
I

51.
24.
4.
16.

42.
66 *
62.
45.

8.

16.
13.

1

1
1969-01...1
1969-02... 1
1969-03.»• 1
1969-04.
I

16.

17.
12.
13.
8.
5.
15.
35.

1

19.

I

32.

1

45.
44.
30.
34.

39.
58.
53.

I
|
I

1

32.
34.
64.
48.

60.
60.
21.

1
|
1

18.

1

39.

52.

33.

15.

|

33.

15.

55.
70.

13.

50.

13.
15.
38.

|
1
|

HIGHER

56.
43.
37.

I

29.
41.
53.
39.

SAME
* * *

8.
17.
60.
71.

55.
46.
28.
29.

LOWER
32.
44.
50.

40.
48.
33.
16.

1968-01...I
1968-02... 1
1968-03... 1
1968-04... |

1
1
i
|

52.
35.
7.
13.

I

HIGHER

|

I
|
|
|

1

SAME

EXPECTED I N CURRENT QUARTER

14.
8.
13.

5.
12.
55.
71.

14.

LOWER

I

* * *

21.
29.
27.
14.

|

CURRENT (DATE OF SURVEY)

59.
49.
50.

74.
59.
18.
15.

* * *

SPENDING BY FARMERS FOR ALL ITEMS

27.
42.
37.

1
1
|

37.




1

13.
4.
4.
10.

I
1

1

HIGHER

42.
38.
33.
25.

69.
23.

I
1
1
|

SAME

45.
58.
63.
65.

17.
36.
53.
34.

1971-01...
1971-02...
1971-03...
1971-04...

LOWER

|
I
1
|

14.
41.
32.
29.

1970-04... |

1

30.
18.
1.
13.

1967-01... 1
1967-02... 1
1967-03... 1
1967-04...1

1970-03... 1

EXPECTED I N CURRENT QUARTER I

16.
16.
23.
21.

•**
IB.

1970-01...1
1970-02... |

1
L

54.
66.
76.
66.

7.

1

FARM CUSTOMERS

**•

1
1

1

***

14.

17.

I

1
I

13.
2.

***

48.
57.

* * *

1
j

* * *

* * *

37.

I

10.

42.

48.

36.

1

22.

1

24.
24.

I

8.
19.
12.
15.

64.
56.
61.
65.

28.
23.
27.
20.

26.
27.
13.
18.

63.
56.
71.
62.

11.
17.
16.
20.

6.
11.
18.
17.

76.
65.
58.
62.

18.
24.
24.
21.

64.

19.
15.
18.
11.

1
I

1
1
I

1

12.
16.
14.

13.

67.

23.
19.

63.

1
1

27.

64.

20.
15.
23.
9.

10.
33.

1
I
|

36.
28.

39.

|

10.

54.
58.
65.
70.

10.
14.
24.
19.

1

11.

58.

1

1
I

I

#
1

16.
18.
17.
28.
42.
23.
7.
9.

66 .

66.
61.
51.
58.
70.
67.

8.
19.
23.
23.

SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 3 3 6 . 1
FARMERS1 EARNINGS AND SPENDING, COMPARED WITH PREVIOUS YEAR
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY

EARNINGS OF BANKS • FARM CUSTOMERS

i

|
1
|
1
1

1972-Ql.••I
1972-02...I
1972-03...#
1972-04...1
1

1973-01...1
1973-02...1
1973-03...1
1973-04...1
1

1974-01...1
1974-02...1
1974-03...1
1974-04...1

1

1975-01...1
1975-02...1
1975-03...1
1975-04...|
1

1976—01...1
1976-02...1
1976-03...1
1976-04...1

1

1977-01... 1
1977-02...|
1977-03...1
1977-04...1
1

1978-01...1
1978-02...1
1978-03...I
1978-04...|
1




CURRENT (DATE OF SURVEY)
ISOMER

SAME

HIGHER

1
1

1 EXPECTED I N CURRENT QUARTER I
1

LOWER

SAME-

HIGHER

1
1
1

SAME

HIGHER

EXPECTED I N CURRENT QUARTER
HIGHER

1

LONER

SAME

12.
8.
6.
1.

72.
74.
75.
60.

16.
18.
19.
38.

1
1

2.
o.
1.
1.

53.
43.
48.
23.

45.
58.
51.
76.

I
1
I
1

10.
6.
8.
4.

69.
75.
74.
69.

22.
19.
18.
27.

I
1
I

|

30.
32.
47.
75.

I

0.

I
1
1

1.

21.
16.
26.
5.

79.
83.
72.
93.

I
1
1
1

1.
0.
1.
0.

52.
39.
46.
31.

47.
61.
53.
69.

1
1

18.

78.
39.
10.
13.

t
1
I
1

2.
2.
11.
27.

24.
31.
38.
42.

74.
66 .
51.
31.

1

3.

1
1
|

4.
19.
38.

33.
26.
36.
31.

64.
69 .
45.
31.

10.
3.
15.

I
1
1

42.
55.
31.
20.

35.
28.
37.
57.

23.
17.
31.
23.

|
1
I
I

50.
52.
29.
18.

28.
26 .
40.
56.

22.
22.
31.
26.

25.
25.
41.
51.

60.
59.
43.
37.

15.
16.
15.
12.

I
1
1
I

29.
24.
48.
63.

58.
59.
39.
29.

13.
17.
12.
8.

20.
27.
41.
40.

7.

1
I
1

75.
63.
44.

16.
31.

I

73.
68.
45.
46.

j

50.

44.
35.

10.
7*
13.
15.

1
I
I
1

51.
36.
2.
7.

39.
48.
56.
55.

1
|

55.
31.
2.
7.

32.
48.
53.
50.

13.
21.
45.
42.

45.
50.
54.
79.

2.
1.
0.

12.
6.
20.
3.

86.
94.
79.
97.

2.
2.

1.
11.
59.
62.

7.
19.
21.
20.

93.
70.
20.
17.

I
1
I
1

3.
25.
66.
68.

67.
81.
56.
19.

24.
16.
34.
52.

9.
3.
10.
29.

|
I
1
|

70.
78.
52.
20.

21.
19.
33.
50.

30.

47.
41.
51.
80.

34.
48.
37.
13.

19.
11.
12.
7.

1

43.

1
1

31.

38.
60.

19.
10.

55.
79.

31.
15.

14.
7.

86.
78.
67.
56.

11.
20.
27.
26.

3.
1.
5.
18.

1
1
|

78.
61.
54.
48.

17.
35.
24.
28.

6.

4.
22.
24.

1

46.
36.

28.
28.
25.
26.

26.
36.
70.
68.

1

41.
21.
4.
8.

36.
38.
22.
25.

23.
40.
75.
67.

5.

LOWER

I

61.
63.
49.
24.

39.
42.
41.
21.

6.

CURRENT (DATE OF SURVEY)

9.
5.
4.
1.

17.
9.
4.
1.
1.

SPENDING BY FARMERS FOR ALL ITEMS

I
I
I

I

1

I
1
I

36.

24.
19.

I

1

j

j

I

I
I
1
I

1
1
i
I

5.

14.
15.

1

10.
16.
42.

1

38.

1

1

23

AGRICULTURAL FINANCE DATABOOK—QUARTERLY SERIES

340

OCTOBER 1978

KANSAS CITY

341.1

CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE

343.1

AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT
RELATIVE CREDIT A V A I L A B I L I T Y

344.1

MOST COMMON INTEREST RATES CHARGED ON FARM LOANS

27

345.1

FARM REAL ESTATE VALUES

28




25

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS. TENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF KANSAS CITY
CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE, COMPARED WITH A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
1
|
I
I
1
1976-01...1
1976-42...I
1976-Q3...I
1976-04...I
1
1977-01... I
1977-02...|
1977-03...|
1977-04...|
1
1978-Q1...I
1978-02...|
1978-03...1
1978-04...1
1

DATE OF
SURVEY

DEMAND FOR LOANS

LOAN REPAYMENT RATE
HIGHER

LOWER

SAME

HIGHER

LOWER

SAME

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.

26.
29.
28.
33.

70.
67.
66.
62.

35.
38.
41.
37.

43.
49.
45.
49.

22.
13.
14.
15.

68.
64.
67.
63.

30.
30.
29.
32.

2.
5.
4.
5.

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.

LOWER

SAME

13.
4.
6.
6.

34.
40.
35.
21.

5.
3.
6.
5.
13.
11.
13.
10.




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

HIGHER

I RENEWALS OR 1EXTENSIONS!
1
|
LOWER SAME HIGHER
I
1
1
57.
31.
I
1
12.
54.
38.
1
1
8.
64.
31.
1
1
4.
54.
|
42.
I
5.
1
33.
66.
I
1
1.
66.
|
32.
1
3.
28.
69.
I
1
2.
65.
|
32.
1
3.
1
52.
|
38.
I
10.
37.
|
54.
1
8.
57.
28.
1
1
15.
65.
18.
I
I
18.
1

COLLATERAL REQUIRED
HIGHER

LOWER

SAME

2.
1.
2.
0.

68.
74.
71.
64.

30.
25.
27 .
36 .

1.
1.
1.

59.
57.
58 *
59.

40.
43 .
41.
41.

1.

64.
68.
68 .
68.

34.
32 .
30 .
31.

0.
0.
2.
1.

25

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, TENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF KANSAS CITY
TABLE 3 4 3 . 1
AVERAGE LOAN/DEPOSIT R A T I O , AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y
NUMBER OF FARM LOAN REQUESTS REFERRED TO—
REFUSED OR 1
REDUCED A I ACTIVELY
1
NONBANK AGENCIES
CORRESPONDENT BANKS
FARM LOAN 1 SEEKING
AVERAGE
REQUEST I N I
NEW
LOAN/DEPOSIT
PREVIOUS
1
1 COMPARED WITH
HIGHER
1 FARM
1 COMPARED WITH
RATIO
LOWER
USUAL NUMBER
|NONE I
USUAL NUMBER
NONE |
QUARTER DUE|
LOAN
(PER CENT)
DESIRABLE THAN
THAN
1
1
DESIRED TO SHORTAGE!ACCOUNTS
1
DESIRED
| LOWER SAME HIGHER 1
OF FUNDS
1
1 LOWER SAME HIGHER
LOAN/DEPOSIT RATIO I S —

DATE OF
SURVEY

56.
57.
59.
62.

12.
12.
12.
10.

51.
54.
49.
40.

37.
34.
39.
51.

13.
14.
11.
20.

58.
51.
51.
35.

51.
48.
47.
52.

19.
13.
19.
9.

62.
69.
65.
69.

19.
18.
16.
21.

1
I
I
I

41.
45.
44.
46.

12.
10.
13.
9.

63.
70.
69.
66.

26.
20.
19.
25.

1977-01.
1977-02. e *
1977-03. ee
1977-04. • •

61.
62.
65.
65.

21.
12.
12.
17.

31.
36.
28.
31.

48.
52.
59.
52.

23.
22.
26.
26.

37.
30.
31.
26.

39.
40.
37.
41.

7.
10.
8.
10.

64.
63.
64.
58.

29.
27.
28.
32.

I
I
I
1

39.
37.
36.
32.

5.
6.
5.
5.

61.
57.
58.
50.

34.
37.
37.
45.

1978-01.
1978-02.
1978-03.
1978-04.

62.
62.
63.
64.

16.
15.
14.
15.

40.
39.
43.
42.

44.
46.
43.
43.

21.
15.
13.
18.

31.
39.
35.
34.

43.
36.
39.
40.

12.
10.
20.
19.

65.
73.
66.
66.

23.
17.
15.
16.

I
1
I
1

36.
34.
37.
36.

7.
13.
14.
13.

44.
49.
58.
57.

49.
38.
29.
29.

1976-01.
1976-Q2.
1976-03.
1976-04.

• •

..
• •




QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, TENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF KANSAS C I T Y
TABLE 3 4 4 . 1
MOST COMMON INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT)
1
|
I
1
1
1976-01...I
1976-02...I
1976-03.., I
1976-04... |
1
1977-01...|
1977-02... |
1977-03... |
1977-04...|
1
1978-01...1
1978-02...1
1978-03... 1
1978-04...1

DATE OF
SURVEY

FEEDER CATTLE
LOANS

OTHER
OPERATING
LOANS

INTERMEDIATE-TERM
( 1 TO 7 YEARS)
LOANS

LONG-TERM
REAL ESTATE
LOANS

8.77
8.81
8.78
8.82

8.92
8.91
8.89
8.93

9.15
9.21
9.16
9.22

9.10
9.17
9.19
9.22

8.84
8.84
8.84
8.87

8.95
8.96
8.98
8.98

9.23
9.33
9.34
9.32

9.23
9.25
9.25
9.22

8.90
8.94
9.07
9.27

9.03
9.06
9.22
9.40

9.35
9.38
9.54
9.80

9.23
9.29
9.46
9.64




27

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, TENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF KANSAS CITY
TABLE 3 * 5 . 1
FARM REAL ESTATE VALUES
MARKET VALUE OF GOOD FARMLAND
DATE OF
SURVEY

1
I

DOLLARS PER ACRE
N0N1RRIGATED
CROPLAND

IRRIGATED
CROPLAND

RANCHLANO

1976-01...|
1976-02... 1
1976-Q3...I
1976-Q4.

469.
491.
497.
528.

823.
884.
914.
991.

234.
254.
253.
259.

1977-Ql.••1
1977-Q2.
1977-03...I
1977-Q4...|

519.
530.
533.
518.

977.
980.
984.
961.

261.
272.
271.
264.

1978-01...1
1978-02...|
1978-03...|
1978-04...1

530.
546.
561.
591.

980.
970.
1007.
1066.

264.
270.
280.
295.




I PERCENTAGE CHANGE FROM PREVIOUS QUARTER) PERCENTAGE CHANGE FROM 1PREVIOUS YEAR
1
RANCHLANO
IRRIGATED
RANCHLANO
| NONIRRIGATED
I NONIRRIGATEO
IRRIGATED
1
CROPLAND
CROPLAND
CROPLAND
CROPLAND
1
•***
****
****
****
|
****
****
i
****
****
7.4
8.4
1
I
4.6
****
****
****
3.5
-0.3
I
1
1.2
*•**
****
****
2.5
|
8.4
I
6.2
i
11.5
18.7
10.6
0.6
1
-1.5
1
-1.7
7.1
10.9
8.1
4.2
1
0.4
1
2.2
7.0
7.6
7.3
-0.4
|
0.3
I
0.5
1.7
-3.0
-1.9
-2.3
-2.6
I
I
-2.8
1
0.4
1.2
2.1
0.0
1
2.0
1
2.3
—0 . 6
3.0
—1.0
-1.0
2.4
1
I
3.1
3.4
2.3
5.4
3.7
3.6
1
I
2.8
11.9
10.9
14.2
5.9
5.4
I
1
5.3

AGRICULTURAL FINANCE OATABOOK—QUARTERLY SERIES

350

OCTOBER 1978

DALLAS

351.1

CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE

30

352.1

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTeO DURING THE CURRENT
QUARTER

31

AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT
RELATIVE CREDIT A V A I L A B I L I T Y

32

354.1

MOST COMMON INTEREST RATES CHARGED ON FARM LOANS

33

355.1

TRENDS I N FARM REAL ESTATE VALUES AND LOAN VOLUME

34

353.1




QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF DALLAS
TABLE 3 5 1 . 1
CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE, COMPARED WITH USUAL CONDITIONS
PERCENTAGE OF BANKS REPORTING
1
1
1
1
1
1975-03...1
1975-04...1
1
1976-Q1.•• 1
1976-02...I
1976-03...I
1976-04...1

DATE OF
SURVEY

DEMAND FOR LOANS

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

LOAN REPAYMENT RATE

LOWER

SAME

HIGHER

LOWER

SAME

HIGHER

LOWER

SAME

20.
21.

50.
58.

30.
21.

12.
11.

50.
59.

38.
30.

37.
25.

57.
64.

6.
12.

16.
17.
6.
7.

53.
55.
54.
46.

31.
28.
40.
47.

7.
7.
7.
14.

58.
58.
68.
62.

36.
36.
25.
24.

28.
21.
15.
28.

65.
73.
78.
69.

7.
6.
7.
4.

1977-01...1
1977-02... 1
1977 — 0 3 . . . |
1977-04... |

14.
7.
5.
3.

51.
53.
43.
42.

35.
40.
52.
55.

15.
12.
15.
19.

51.
54.
63.
63.

34.
34.
22.
18.

28.
26.
31.
38.

66.
67.
66.
59.

5.
7.
3.
3.

1978-01...1
1978-02...I
1978-03... |
1978-04...1
1

8.
6.
4.
6.

45.
52.
47.
46 .

47.
42.
48.
48.

20.
17.
28.
38.

65.
65.
57.
48.

15.
17.
14.
14.

49.
36.
25.
29.

49.
61.
72.
61.

3.
4.
4.
9.




HIGHER

I RENEWALS OR EXTENSIONS!
1
I
I
LOWER SAME HIGHER
1
1
48.
47.
I
1
6.
35.
|
50.
1
15.
1
55.
34.
|
I
11.
66 .
27.
1
1
7.
74.
20.
I
1
6.
69.
26.
I
1
5.
1
33.
|
59.
1
8.
59.
35.
I
1
5.
65.
31.
1
1
4.
52.
44.
I
1
4.
i
44.
52.
I
1
4.
55.
41.
I
I
4.
62.
31.
|
I
7.
30.
|
60.
I
10.
1

COLLATERAL REQUIRED
HIGHER

LOWER

SAME

0.
1.

54.
61.

46.
38.

1.
0.
1.
0.

63.
68.
71.
68.

37.
32.
28.
32.

1.
0.
1.
1.

74.
70.
62.
68.

25.
30.
38.
32.

0.
1.
0.
1.

62.
59.
63.
59.

38.
40.
37.
41.

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF DALLAS
TABLE 3 5 2 . 1 ^ ^

DATE OF
SURVEY

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

DAIRY

LOWER SAME HIGHER

LOWER SAME HIGHER

LOWER SAME HIGHER

LOWER SAME HIGHER

FARM MACHINERY

OPERATING

CROP STORAGE

TOTAL

LOWER SAME HIGHER

LOWER SAME HIGHER

1975-Q3.
1975-04.

26.

41.
55.

33.
23.

54.
38.

30.
42.

16.
20.

34.
31.

59.
64.

6.
5.

15.
16.

55.
62.

30.
22.

13.
15.

36.
49.

52.
36.

29.
15.

42.
50.

30.
36.

1976-Q1.
1976-Q2.
1976-Q3.
1976-Q4.

13.

51.
52.
51.
44.

36.
37.
41.
42.

28.

45.
55.
55.
46.

27.
15.
17.
13.

21.
18.
21.
17.

71.
76.
72.
75.

8.
6.
8.
8.

17.
11.
14.
13.

57.
75.
59.
58.

26.
15.
26.
29.

7.
7.
7.
10.

43.
46.
45.
43.

50.
47.
48.
47.

10.
16.
14.
16.

57.
50.
52.
49.

33.
34.
35.
36.

1977-01.
1977—Q2.
1977-03,
1977-Q4.

11.

50.
47.
50.
46.

39.
46.
44.
43.

27.
24.
23.

lb.

23.

18.

14.
12.
15.
18.

81.
82.
73.
75.

5.
7.
13.
7.

9.
12.
11.
15.

61.
67.
56.
54.

30.
22.
33.
31.

8.
5.
3.
11.

44.
38.
40.
42.

48.
57.
56.
47.

15.
14.
15.
30.

50.
48.
47.
43.

35.
38.
38.
27.

1978-01.
1978-02.
1978-03.
1978-04.

9.

44,
47,
50.
43.

47.
42.
44.
43.

13.

27,
36.
32.
39.

15.
14.
15.
18.

77.
72.
72.
73.

8.
14.
14.
9.

10.
11.
13.
12.

57.
61.
57.
60.

33.
28.
30.
28.

6.
10.
5.
11.

44.
36.
44.
46 .

49.
54.
51.
43.

31.
28.
23.
20.

45.
48.
47.
51.

24.
24.
30.
29.

23.

11.
7.
14.

7.

6.

11.
11.

6.

14.




30.
27.
41.

18.
18.

11.
16.

57.

62.
59.
59.

60.

46.
56.
45.

14.

31

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF DALLAS
TABLE 3 5 3 . 1
AVERAGE LOAN/DEPOSIT R A T I O , AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y
REFUSED OR 1
REDUCED A I ACTIVELY
FARM LOAN I SEEKING
REQUEST I N I
NEW
|
FARM
PREVIOUS
HIGHER
QUARTER DUE 1 LOAN
THAN
DESIRED TO SHORTAGE|ACCOUNTS
OF FUNDS
1

LOAN/DEPOSIT RATIO I S —
AVERAGE
LOAN/DEPOSIT
RATIO
(PER CENT)

DATE OF
SURVEY

LOWER
THAN
DESIRED

ABOUT
RIGHT

58.
55.

25.
29.

55.
55.

20.
16.

11.
12.

1976-01.
1976-Q2. ee
1976-Q3. e
1976-04. • •

54.
55.
58.
60.

37.
37.
26.
24.

46 .
48.
56.
50.

17.
15.
19.
26.

1977-01.
1977-02. ee
1977-03.
1977-04. • •

57.
58.
62.
63.

25.
31.
22.
21.

59.
53.
53.
52.

1978-01.
1978-02.
1978-03.
1978-04.

60.
59.
62.
63.

21.
25.
21.
15.

56.
51.
47.
54.

1975-43.
1975-Q4.

• •

.

• •




NUMBER OF FARM LOAN REQUESTS REFERRED TO—
I
I
I
I.
HIGHER I
1
1
13.
1
12.
1
1
13.
1
I
11.
11.
1
18.
1
|
14.
1
10.
1
17.
I
20.
1
I
15.
1
17.
1
20.
1
24.
1

CORRESPONDENT BANKS,
COMPARED WITH
USUAL NUMBER
LOWER

SAME

40.
44.

27.
28.

61.
60.

8.
7.
7.
13.

49.
51.
50.
45.

22.
20.
16.
19.

66.
69.
72.
63.

16.
17.
26.
28.

10.
10.
15.
9.

50.
49.
44.
39.

16.
18.
17.
12.

70.
72.
66.
68.

23.
24.
31.
31.

9.
15.
14.
22.

36.
36.
32.
32.

10.
10.
7.
8.

74.
73.
73.
68.

NONBANK AGENCIES,
COMPARED WITH
USUAL NUMBER
LOWER

SAME

HIGHER

17.
14.

59.
65.

22.
20.

19.
16.
13.
17.

63.
71.
80.
74.

18.
13.
7.
9.

12.
13.
14.
7.

73.
65.
65.
64.

15.
22.
21.
29.

8.
8.
8.
5.

61.
64.
63.
60.

31.
28.
29.
35.

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF DALLAS
TABLE 3 5 4 . 1
MOST COMMON INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT)
1
|
|
1
1
1975-03...|
1975-04...|
i
1
1976-01.. . 1
1976-02...!
1976-03...1
1976-04...I
1
1977-01...I
1977-02...1
1977-03...1
1977-04...|
1
1978-01...1
1976-02...1
1978-03...1
1978-04...\

DATE OF
SURVEY




FEEDER CATTLE
LOANS

OTHER
OPERATING
LOANS

INTERMEDIATE-TERM
( I TO 7 YEARS)
LOANS

LONG-TERM
REAL ESTATE
LOANS

9.47
9.6Q

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

33

34
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF DALLAS
TABLE 3 5 5 , 1
TRENDS I N FARM REAL ESTATE VALUES AND LOAN VOLUME
PERCENTAGE OF BANKS EXPECTING
FARM REAL ESTATE LOAN VOLUME
DURING THE CURRENT QUARTER,
AS COMPARED WITH VOLUME MADE
A YEAR E A R L I E R , TO B E -

MARKET VALUE OF GOOD FARMLAND

DATE OF
SURVEY

1975-03.•.I
1975-04. .•1
1
1976-Q1...1
1976-02...1
1976-Q3...I
1976-04#eel
1
1977-01..•!
1977-Q2...I
1977-03...1
1977-04... 1
1
1978-01...1
1978-02...1
1978-03...1
1978-04... |

DOLLARS PER ACRE

PERCENTAGE CHANGE
FROM PREVIOUS
QUARTER

PERCENTAGE CHANGE
FROM PREVIOUS
YEAR

DRY-

IRRI-

DRY-

I R R I - RANCH-

DRY-

I R R I - RANCH-

• UNQ

GATED—LAtHL

LAND

GATED

LAND

GAIflQ

••••
****

****
•***

****
*•**

****
****

j ****
j ****

****
****

****
****

•***
****
**•*
2.8

****
****
****
3.6

|
j
1
|

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

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

****
*•**
****
****

RANCH-

LAND

DOWN

STABLE

UP

HIGHER

LOWER

SAME

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.

LAND

****
*•••

*•**
***•

****
****
397.
387.

•***
****
652.
670.

274.
284.

****
****
****
-2.5

395.
403,
414.
415.

665.
685.
722.
700.

287.
286.
303.
295.

2.1
2.0
2.7
0.2

2.2
0.0
5.4
-3.0

1.1
-0.3
5.9
—2.6

| ****
j ****
I
4.3
1
7.2

****
****
10.7
4.5

****
****
10.6
3.9

435.
441.
449.
481.

704.
726.
781.
776.

300.
304.
344.
342.

4.8
1.4
1.8
7. 1

0.6
3.1
7.6
—0.6

1.7
1.3
13.2
-0.6

t 10.1
I
9.4
1
8.5
1 15.9

2.8
6.0
8.2
10.9

4.5
6.3
13.5
15.9




PERCENTAGE OF BANKS EXPECTING
TREND DURING THE CURRENT
QUARTER TO B E —

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

4.
3.

87.
78.

9.
19.

3.
3.
1.
3.

81.
80.
76.
76.

16.
17.
23.
21.

5.
4.
7.
13.

76.
69.
73.
71.

19.
27.
20.
16.

11.
2.
1.
2.

76.
70.
77.
72.

13.
28.
21.
26.

1
1
|
1
1
1
1
|
1
1
1
1
|
1
1
1
1
J

AGRICULTURAL FINANCE DATAfc JOK—QUARTERLY SERIES

360

OCTOBER 1978

RICHMOND

361.1

CURRENT FARM NON-REAL-ESTATE LENDING EXPERIENCE

36

362.1

FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT
QUARTER

37

363.1

AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT
RELATIVE CREDIT

38

364.1

TYPICAL

39

365.1

TRENDS I N FARM REAL (STATE VALUES AND LOAN VOLUME




INTEREST RATtS CHARGED ON FARM LOANS

40

36

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, F I F T H FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF RICHMOND
TABLE 3 6 1 . 1

nATF
u
A l C riF
ur
SURVEY

1
1
I„
1
|

t
1975-04...I
1
1976-01...1
1976-02...1
1976-03...1
1976-04...|
1
1977-01...1
1977-02...1
1977-03...|
1977-04.•.|
1
1978-01...1
1978-02... 1
1978-03...1
1978-04...1
1




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

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

LOAN REPAYMENT RATE

|

LOWER

SAME

I

HIGHER

LOWER

SAME

HIGHER

LOWER

SAME

21.

51.

28.

10.

46.

44.

31.

62.

8.

1

12.
6.
0.
11.

68.
71.
74.
74.

21.
23.
26.
14.

6.
6.
3.
3.

44.
43.
63.
68.

50.
51.
34.
29.

21.
20.
0.
11.

71.
77.
97.
86.

9.
3.
3.
3.

1
1
I
1

0.
6.
6.
12.

85.
60.
58.
62.

15.
34.
36.
27.

3.
0.
6.
9.

50.
63.
72.
71.

47.
37.
22.
21.

24.
6.
11.
24.

77.
91.
89.
74.

0.
3.
0.
3.

1
1
1
I

7.
21.
19.
10.

60.
36.
69.
61.

33.
42.
13.
29.

10.
27.
36.
32.

73.
67.
58.
65.

17.
6.
7.
3.

57.
30.
13.
10.

37.
70.
84.
81.

7.
0.
3.
10.

1
I
I
1

COLLATERAL REQUIRED
RENEWALS OR EXTENSIONS!
11 LOWER SAME HIGHER
LOWER SAME HIGHER
1
1
77.
23.
0.
28.
1
67.
5.
|
76.
24.
0.
27.
1
71.
3.
80.
20.
0.
20.
1
80.
o.
83.
17.
0.
3.
1
86.
11.
20.
80.
0.
9.
1
83.
9.
|
79.
21.
0.
29.
1
59.
12.
21.
79.
0.
11.
1
83.
6.
17.
81.
3.
14.
1
86.
o.
15.
85.
0.
30.
I
67.
3.
1
23.
77.
0.
63.
1
33.
3.
27.
73.
0.
36.
1
61.
3.
19.
78.
3.
16.
1
81.
3.
16.
84.
0.
16.
1
68.
16.
1

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, FIFTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF RICHMOND
TABLE 3 6 2 . 1
FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER. COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY

TOTAL
|
1 LOWER SAME HIGHER

DAIRY

LOWER SAME HIGHER

LOWER SAME HIGHER

LOWER SAME HIGHER

FARM MACHINERY

OPERATING

CROP STORAGE

FEEDER CATTLE

LOWER SAME HIGHER

LOWER SAME HIGHER

1975-04...|

13.

58.

29.

39.

52.

9.

12.

76.

12.

14.

58.

28.

8.

59.

33.

18.

49.

33.

1976-01..,!
1976-Q2...I
1976-03... |
1976-Q4...I

6.
0.
6.
3.

61.
67.
66 .
77.

33.
33.
29.
20.

37.
14.
19.
26.

56.
61.
68.
68.

7.
25.
13.
7.

25.
10.
16.
12.

57.
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.
60 .
69.

38.
40.
23.
23.

1977-01...1
1977-Q2...I
1977-03...1
1977-04...1

3.
0.
6.
6.

73.
69.
56.
64.

24.
31.
39.
30.

19.
7.
28.
14.

78.
87.
66.
64.

4.
7.
7.
21.

11.
10.
23.
17.

79.
81.
70.
72.

11.
10.
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.

1978-01...I
1978-02...1
1978-Q3...I
1978-04... |

7.
16.
19.
17.

62.
50.
59.
72.

31.
34.
22.
10.

15.
10.
21.
7.

74.
80.
71.
71.

11.
10.
7.
21.

11.
17.
21.
10.

85.
80.
79.
90.

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.




37

QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, F I F T H FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF RICHMOND
T

*^AVERAGE*LOAN/DEPOSIT R A T I O , AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y
NUMBER OF FARM LOAN REQUESTS REFERRED T O REFUSED OR 1
REDUCED A 1 ACTIVELY
|
NONBANK AGENCIES
CORRESPONDENT BANKS
FARM LOAN (SEEKING
NEW
REQUEST I N |
1
1 COMPARED WITH
1 FARM
PREVIOUS
HIGHER
1 COMPARED WITH
I NONE 1 USUAL NUMBER
USUAL NUMBER
NONE |
QUARTER DUE I
LOAN
THAN
1
1
1
DESIRED TO SHORTAGE I ACCOUNTS
1 LOWER SAME HIGHER 1
1 LOWER SAME H I G H E R
OF FUNDS
1

LOAN/DEPOSIT RATIO I S —
AVERAGE
LOAN/DEPOSIT
RATIO
(PER CENT)

DATE OF
SURVEY

LOWER
THAN
DESIRED

ABOUT
RIGHT

1975-04.

64.

28.

62.

10.

8.

63.

24.

16.

61.

0.

1976-Q1.
1976-02.
1976-03.
1976-Q4.

60.
61.
64.
62.

47.
40.
30.
34.

44.
54.
55.
57.

9.
6.
15.
9.

3.
3.
3.
0.

62.
71.
59.
65.

76.
63.
70.
71.

0.
11.
0.
3.

21.
26.
27.
24.

3.
0.
3.
3.

I
I
1
I

38.
36.
47.
47.

6.
7.
0.
6.

47.
45.
50.
44.

9.
13.
3.
3.

• •

62.
64 .
66.
65.

42.
34.
27.
36.

58.
49.
50.
49.

0.
17.
24.
15.

0.
0.
0.
0.

71.
82.
72.
68.

70.
65.
66.
72.

6.
3.
3.
3.

21.
32.
31.
25.

3.
0.
0.
0.

1
I
I
|

41.
44.
48.
53.

9.
3.
7.
6.

47.
44.
36 .
25.

3.
9.
10.
16.

• •

66.
65.
68.
67.

36.
25.
13.
20.

43.
53.
47.
47.

21.
22.
41.
33.

3.
3.
13.
13.

73.
64.
56.
60.

78.
71.
83.
71.

0.
3.
0.
0.

22.
26.
13.
29.

0.
0.
3.
0.

i 43.
I 33.
I 48.
1 52.

0.
0.
0.
0.

29.
33.
36.
36.

29.
33.
16.
13.

1977-01,
1977-02.
1977-03.
1977-04.
1978-01.
1978-02.
1978-03.
1978-04.

..




QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, FIFTH FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF RICHMOND
TABLE 3 6 4 . 1
TYPICAL INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT)
1
|
|
1
1
1975-04... |
1
1976-01...1
1976-02...1
1976-03...I
1976-04...I
1
1977-01...1
1977-02.••1
1977-Q3...I
1977-04...1
1
1978-01...1
1978-02...I
1978-03...1
1978-04...I
1

DATE OF
SURVEY

FEEDER CATTLE
LOANS

OTHER
OPERATING
LOANS

INTERMEDIATE-TERM
( 1 TO 7 YEARS)
LOANS

LONG-TERM
REAL ESTATE
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




39

40
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS* F I F T H FEDERAL RESERVE DISTRICT—FEDERAL RESERVE BANK OF RICHMOND
TABLE 3 6 5 . 1
TRENDS I N FARM REAL ESTATE VALUES AND LOAN VOLUME

DATE OF
SURVEY

1
1
1
I
1

|

MARKET VALUE OF GOOD FARMLAND
DOLLARS
PER
ACRE

I
1
1975-04...I
I
1976—Ql. • . 1
1976-02...1
1976-03...I
1976-04...I
1
1977-01...1
1977-02...1
1977-03... |
1977-04...|
I
1978-01...1
1978-02... |
1978-03... i
1978-04... |
1




1
1
|

PERCENTAGE CHANGE
FROM PREVIOUS—
QUARTER

YEAR

777.

|

**•*

*•**

842.
810.
851.
869.

1
1
1
I

8.4
-3,8
5.1
2.1

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

906.
910.
937.
935.

I
I
1
1

4.3
0.4
2.9
-0.1

7.6
12.3
10.1
7.6

961.
1015.
1014.
1044,

1
I
1
I

2.7
5.6
-0.1
3.0

6.1
11.5
8.3
11.6

11.6

I PERCENTAGE OF BANKS EXPECTING
TREND DURING THE CURRENT
1
QUARTER TO BE
1
|
UP
STABLE
DOWN
1
1
|
13.
82.
5.
j
18.
|
79.
3.
20.
|
80.
0.
14.
86.
|
0.
83.
17.
0.
|
|
18.
82.
0.
|
18.
82.
0.
I
83.
11.
6.
|
6.
94.
0.
1
j
87.
10.
3.
I
76.
24.
0.
|
75.
25.
0.
1
26.
74.
0.
1
1

PERCENTAGE OF BANKS EXPECTING
FARM REAL ESTATE LOAN VOLUME
DURING THE CURRENT QUARTER,
AS COMPARED WITH VOLUME MADE
A YEAR EARLIER , TO BE—
LOWES

SAME

HIGHER. .

11.

76.

13.

16.
18.
6.
12.

68.
61.
76.
70.

16.
21.
18.
18 *

9.
6.
6.
13.

75.
70.
67.
75.

16.
24.
27.
13.

17.
23.
28.
20.

70.
68.
63 .
70.

13.
10.
9.
10.