February 8, 2018 / 3:02 PM / in a year

U.S. bankers say Q4 farm incomes drop, land values rising -St. Louis Fed

    CHICAGO, Feb 8 (Reuters) - The Federal Reserve Bank of St.
Louis on Thursday issued its fourth-quarter 2017 report on the
agricultural economy for the Eighth Federal Reserve District.
    The district includes all or parts of Arkansas, Illinois,
Indiana, Kentucky, Mississippi, Missouri and Tennessee. 
* Farm income declined from the year-ago quarter.
* Value of quality farmland rose 5 percent from a year earlier,
while ranchland and pastureland values jumped nearly 15 percent.
* Cash rents increased 3.9 percent for quality farmland, and
10.1 percent for ranchland or pastureland, from a year earlier.
* Of bankers surveyed, more expect cash rents to decline in the
first quarter of 2018.

 (Reporting by P.J. Huffstutter; Editing by Richard Chang)
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