The Independent Community Bankers of America (ICBA) on Wednesday told a House Agriculture Committee subcommittee examining rural credit availability that credit is plentiful for America’s farmers and ranchers and is being provided at rates near historically low levels. 

But Sean Williams, president and CEO of First National Bank of Wynne, Ark., in testimony at the hearing on credit availability in rural America, noted that "the ag economy has experienced record prices allowing farmers to pay down debt. Livestock producers also are now benefitting from lower feed costs and higher prices providing much-needed profits. The rapid rise in farmland values has slowed or stalled, meaning that land prices are expected to be stable or slightly decline if crop prices continue declining or remain below the cost of production."

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