Midwest farm economy hit hard by floods

Midwest farm economy hit hard by floods

U.S. farm incomes in the Midwest declined again in the second quarter of 2019 due mostly to spring floods, according to banker surveys released on Aug. 8 by the Federal Reserve Banks of St. Louis and Kansas City.

Reuters reported last week that nearly two-thirds of the bankers surveyed by the St. Louis Fed said most of their farm customers were either significantly or modestly impacted by flooding and other adverse weather earlier this year.

But in parts of the Midwest, federal trade-related aid to...

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