Journal Article
Agriculture in a Global Economy
Kansas City, Federal Reserve Bank (2018)
Similar to other segments of the economy, the agricultural sector is increasingly global. In some regions, the production of food and agricultural products has advanced well beyond what is required for consumption within that region. In other areas, agricultural production is more limited. The persistent gap between regions of excess and regions of scarcity has led to an increasing reliance on agricultural trade as global populations and incomes rise, but recent months have also pointed to increased uncertainty about the future of trade and implications for agriculture. Similarly, the ...
Economic Review , Issue Special Issue , Pages 1-96

Journal Article
Agricultural Consolidation: Causes and the Path Forward
Kansas City, Federal Reserve Bank (2017)
The agricultural economy, both in the U.S. and internationally, continues to adjust to the sharp drop in commodity prices and profit margins from those of just a few years ago. The reduction in prices and profits has led farm producers, agribusinesses, and agricultural lenders to consider fundamental changes to their business models to maintain competitiveness, improve efficiency, and position their businesses for long-term growth. These decisions, however, require a pragmatic recognition of a new commodity price landscape, resulting in strategic realignments and consolidation across the ...
Economic Review , Issue Special Issue , Pages 1-105

Journal Article
Agriculture’s Water Economy
Kansas City, Federal Reserve Bank (2016)
Agriculture’s water economy has demonstrated growing signs of strain. Recent and persistent extreme weather-related events have highlighted the vulnerability of food and agricultural production to substantial variations in water availability. Consistent water availability is critical to agricultural production everywhere, and intensifying scarcity presents global agriculture with a formidable long-term challenge. Agricultural production has evolved, to a significant extent, on the basis of available water resources, both surface water and groundwater. However, there are growing concerns ...
Economic Review , Issue Special Issue , Pages 142

Journal Article
Agricultural Cycles and Implications for the Near Term: Agricultural Symposium 2019
Katchova, Ani L.; Sant'Anna, Ana Claudia (2019-07)
While several indicators suggest that a repeat of the 1980s farm crisis is unlikely, the length of the current agricultural downturn may take a toll.
Economic Review , Issue Special Issue 2019 , Pages 5-25

Journal Article
Long-Run Uncertainties for U.S. Agriculture : Agricultural Symposium 2019
Naylor, Rosamond L. (2019-07-01)
Changes in global food and fuel demand, the effects of climate change, and regional depletion of groundwater resources for irrigation create uncertainty for U.S. farmers.
Economic Review , Issue Special Issue 2019 , Pages 51-84

Journal Article
Transitioning to the Long Term : Agricultural Symposium 2019
Gunderson, Michael A. (2019-07-01)
To be successful in the future, agricultural producers will need to take leadership as production conditions, the climate, and technologies evolve.
Economic Review , Issue Special Issue 2019 , Pages 85-101

Journal Article
Reshuffling in Soybean Markets following Chinese Tariffs
Cowley, Cortney (2020-06-18)
Chinese tariffs on U.S. soybeans could reduce the global competitiveness of U.S. soybeans in the longer term.
Economic Review , Volume v. 105 , Issue no.1 , Pages 5-30

Journal Article
The Outlook for Farmland Values amid Higher Interest Rates
Cowley, Cortney; Kauffman, Nathan (2019-04-10)
In 2018, the spread between returns to farmland owners and benchmark interest rates narrowed to its lowest level in more than a decade in the Tenth Federal Reserve District. At the same time, farmland sales increased in some states for the first time in several years. Together, the reduced spread and indications of increased sales in some regions suggest the potential for lower farmland values moving forward.
Economic Bulletin , Issue April 10, 2019 , Pages 3

Journal Article
The Dispersion of Farmland Values in the Tenth District
Cowley, Cortney (2016-10)
Cortney Cowley examines the widening dispersion of farmland values in the Tenth Federal Reserve District and finds that land quality, climate, and commodity sales have played important roles.
Economic Review , Issue Q IV , Pages 29-67

Journal Article
Competition in Local Agricultural Lending Markets: The Effect of the Farm Credit System
Hogue, Eric W.; Morris, Charles S.; Wilkinson, James (2015-10)
Charles S. Morris, James Wilkinson, and Eric Hogue assess the effects of Farm Credit Association lending on measures of competition in agricultural banking markets.
Economic Review , Issue Q IV , Pages 51-78