Bankers responding to the Dallas Federal Reserve Bank’s first quarter survey noted that the negative impact on commodity prices from the coronavirus (COVID-19) outbreak has changed the outlook for 2020 from one of challenge to one of extreme concern.
A survey of bankers in the 11th Federal Reserve District say that, that while loans for farm equipment fell sharply in the fourth quarter of 2018, so did the loan demands in other areas of agriculture. The district covers all of Texas, northern Louisiana and southern New Mexico and 100 bankers responded the this most recent survey.
The number of bankers reporting third quarter declines was larger than 3 months ago and they expect farm income and expenditures to decline again in the fourth quarter.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.