Large operating loans made by large agricultural banks led to a significant increase in farm lending in the third quarter of 2018, according to the Federal Reserve's Agricultural Finance Databook.
The total volume of non-real estate farm loans was more than 30 percent higher than a year ago. A sharp increase in the volume of loans exceeding $1 million was a primary contributor to the increase in non-real estate farm lending. In the third quarter, the volume of loans larger than $1 million nearly doubled and accounted for almost 40 percent of total non-real estate lending during the reporting period.
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