Despite a shaky economy, commercial ag lenders say they have been having a good run lately.
Analysts with the University of Illinois found in the fourth quarter of last year, commercial banks specializing in ag lending reported a higher return on average assets. They also found they are more cost-efficient than non-ag banks.
The banking sector is still resilient overall, but Fed Chair Jerome Powell warns the outlook is uncertain because of high inflation.
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At the center of the announcement is the Blue Point Project in Louisiana, a $3.7 billion ammonia facility, USDA says, that will become the world’s largest ammonia plant once completed.
