Bankers responding to the Eleventh District’s Q4 2025 Agricultural Survey reported stable regional conditions, though low commodity prices and high input costs continue to pressure farm profitability.

• Demand for non-real-estate farm loans declined further in Q4 to an index of -19.8 from -13.8 in Q3, with 25.0% of bankers reporting lower demand compared to a year earlier.

• The rate of loan repayment plummeted to -14.3 from -1.6 in Q3, indicating a significant weakening in repayment capacity after it had nearly stabilized in the previous quarter.

• Loan renewals or extensions rose to an index of 10.9 from 8.1 in Q3, reflecting increased financial stress as 12.7% of respondents reported higher volumes of restructured debt.

• The volume of farm real estate and farm machinery loans saw notable YoY declines, with indexes falling to -14.3 and -25.4 respectively, while operating and feeder cattle loans were the only categories to show growth.

• The index for anticipated farmland values turned positive at 5.2 from -2.8 in Q3, suggesting that respondents expect values to rise, partly due to demand for non-agricultural purposes.

• Credit standards tightened at an accelerated pace, with the index rising to 25.9 from 17.5 in Q3, as 27.6% of bankers reported more stringent lending requirements.