More Acres in Delta and Mid-South in 2020

ST. LOUIS, MO – Agriculture conditions improved modestly in the Eighth Federal Reserve District from the previous quarter. That’s according to the Federal Reserve’s latest Beige Book report, released on Wednesday. The number of acres planted in the District – which includes all of Arkansas and parts of Missouri, Mississippi, Tennessee, Kentucky, Indiana, and Illinois – increased 8 percent year-over-year. Corn, rice, and soybeans gained more acres this year and Southern parts of the District have planted fewer acres of cotton and more of rice. Bankers in the region report that the COVID-19 pandemic has had a relatively muted effect on the agricultural sector to date. Some bankers reported that farmers and agricultural suppliers do not have current plans to reduce output or employment at this time. Continued trade disputes with China, weather, commodity prices, and deteriorating credit conditions remain as sources of uncertainty for the industry.