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KC Fed survey: Ag economy rebounding

A recent survey form the Kansas City Federal Reserve says the farm economy is rebounding strongly after nearly eight years of diminishing.  

The Kansas City Fed said farm income has risen nearly 50 percent this quarter because of large gains in crop prices and minor rebounds for livestock.   

The survey said drought conditions in the plains and further southwest negatively impacted livestock profitability hindering income. Farm loan repayment rates have also sharply risen in quarter four. 

The Fed said incomes for ag borrowers were higher than the previous year for the first time since 2012. 

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