Drought hit Q3 farm income expectations in Midwest: Fed

Posted by Washington Post: Juliet Eilperin on September 6th, 2012
Reuters: Farm income expectations in key Midwestern states for the third quarter have been badly dented by the harsh drought, according to a report released by the Federal Reserve Bank of St. Louis on Thursday. Crops have been stunted by withering heat across the U.S. heartland, with corn and soybean yields hit hard. Hay and cattle farming have also suffered significantly. Based on an Agricultural Finance Monitor survey of 88 agricultural banks in its district, with the exception of the Memphis, Tennessee,......

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