Figures belie cries of woe by farm banks

Department of Agriculture figures contradict banking industry complaints that the Farm Credit System is reducing their agricultural loan business. The figures show an increase in the share of commercial bank lending to farmers from 22% in 1982 to 37% in 1992. The Farm Credit System's share dropped from 32% to 25% in the same period. Farm banks insist that low Farm Credit System interest rates provide unfair competition, but the figures show they enjoyed record profits in 1992.
Farm bankers often complain that the federal Farm Credit System is eating their lunch, but some numbers from the U.S. Department of Agriculture show otherwise. Since 1982, the data show, [...]