KC Fed: Fewer new loans to farmers

IARN — Fewer new loans to farmers continued to drive a pullback in agricultural lending activity. The Kansas City Federal Reserve Bank reported this week that stronger prices for agricultural commodities, alongside continued support from government payments, may have reduced financing needs for some farmers and contributed to the slower pace of lending. A historically low number of new loans contributed to an increase in average loan size and drove a slight decrease in the overall volume of non-real estate loans at commercial banks in the fourth quarter. Read more

Lawmakers ask Trump Administration to deny biofuel waivers

IARN — A group of lawmakers is asking the outgoing Trump administration to deny biofuel wavers. A letter signed by the House Biofuels Caucus follows a report the Environmental Protection Agency (EPA) was readying to approve three small refinery exemptions. The letter calls the exemptions illegal, adding they are “contrary to legislative intent and hurt rural economies.” Read more