Loan delinquencies downas farm economy improves

WICHITA, Kan. - An improving farm economy, coupled with bigger-than-expected disaster payments, has driven down farm-loan delinquency rates in Kansas, the U.S. Agriculture Department's Farm Service Agency said.

As of Sept. 30, the loan delinquency rate had dropped to 5.5 percent statewide, said Arlyn Stiebe, the agency's farm-loan chief in Kansas. That compares with a 6.4 percent delinquency rate for the same month last year and 6.1 percent in 2002, he said.

"Farmers have to be the toughest, most resilient group of people on the planet - the things that get thrown at them with the drought and other economic setbacks," Stiebe said. "They seem to be able somehow to shrug it off and keep going. I'd put them against anyone when dealing with adversity."

This Week's Circulars