C.2. Expected Farm Loan Volume for the Next Quarter, Compared with a Year Earlier
Percent
________________________________________________________________________________________________________________________________________________

                                                                          Purpose of loan
             ___________________________________________________________________________________________________________________________________

                           Total            Feeder cattle            Dairy            Crop storage           Operating         Farm machinery
             ___________________________________________________________________________________________________________________________________

Quarter             Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher  Lower  Same  Higher
________________________________________________________________________________________________________________________________________________

                                      Seventh (Chicago) Federal Reserve District (IL*, IN*, IA, MI*, WI*)
________________________________________________________________________________________________________________________________________________
2001: Q1...    |       13    54      33     14    70      16     25    68       7     29    61      10      8    43      49     42    45      13
      Q2...    |       20    57      23     22    65      13     22    71       7     29    61       9     12    53      35     42    50       8
      Q3...    |       23    59      18     24    67       9     22    72       6     27    66       7     13    60      27     42    47      11
      Q4...    |       19    53      28     24    68       8     16    77       6     28    67       5     12    47      40     43    45      12
                                                                                                                                                
2002: Q1...    |       19    54      27     25    68       7     20    72       8     27    67       6     11    49      40     39    51      10
      Q2...    |       18    63      19     32    64       3     20    73       7     28    65       6     12    60      28     38    54       7
      Q3...    |       23    54      23     32    64       3     26    67       7     25    69       6     16    49      35     33    50      17
      Q4...    |       19    58      23     21    70       9     20    74       6     23    73       4     14    50      36     30    54      15
                                                                                                                                                
2003: Q1...    |       23    53      24     19    73       8     24    71       5     26    72       2     14    46      40     32    56      12
________________________________________________________________________________________________________________________________________________

                                           Eleventh (Dallas) Federal Reserve District (LA*, NM*, TX)
________________________________________________________________________________________________________________________________________________
2001: Q1...    |       21    57      22     17    65      18     18    77       5     14    83       3     17    57      26     29    60      11
      Q2...    |       24    54      21     16    64      20     18    78       5     14    77       9     18    60      21     31    56      13
      Q3...    |       22    60      18     19    63      19     18    77       5     15    80       5     18    63      19     31    58      11
      Q4...    |       24    63      13     18    67      16     16    78       6     11    81       8     19    64      18     35    58       7
                                                                                                                                                
2002: Q1...    |       29    55      16     25    65      10     18    75       7     18    77       5     25    59      16     35    57       8
      Q2...    |       29    60      11     37    58       5     20    74       6     20    74       6     23    58      19     31    62       7
      Q3...    |       24    63      13     30    60      10     20    73       7     16    76       9     21    58      21     31    65       5
      Q4...    |       22    66      12     26    58      15     19    75       6     18    76       6     20    64      16     29    62       9
                                                                                                                                                
2003: Q1...    |       20    67      13     22    69      10     14    84       3     11    85       4     16    67      17     28    60      11
________________________________________________________________________________________________________________________________________________

                                        Fifth (Richmond) Federal Reserve District (MD, NC, SC, VA, WV*)
________________________________________________________________________________________________________________________________________________
2001: Q1...    |       17    70      13     12    88       0     18    82       0     10    81      10      8    72      20     24    68       8
      Q2...    |       27    70       3     17    83       0     26    74       0     19    73       8     13    88       0     26    74       0
      Q3...    |       40    55       5     28    72       0     27    73       0      6    76      18      8    88       4     25    71       4
      Q4...    |       25    67       8     30    70       0     18    76       6     29    57      14     19    74       7     41    56       4
                                                                                                                                                
2002: Q1...    |       19    70      11     16    76       8     20    72       8     18    79       4     21    69      10     23    67      10
      Q2...    |       31    62       8     27    73       0     23    77       0     29    67       4     33    63       3     41    59       0
      Q3...    |       30    57      13     22    78       0     22    78       0     21    63      16     33    59       7     50    50       0
      Q4...    |       27    53      20     15    69      15     21    71       7     40    53       7     30    50      20     45    50       5
                                                                                                                                                
2003: Q1...    |       29    53      18     13    75      13     19    75       6     17    67      17     23    55      23     38    57       5
________________________________________________________________________________________________________________________________________________

33






C.2. Expected Farm Loan Volume for the Next Quarter, Compared with a Year Earlier (continued)
Percent
________________________________________________________________________________________________________________________________

                                                           Purpose of loan
             ___________________________________________________________________________________________________________________


             ___________________________________________________________________________________________________________________
                      Feeder livestock    Other intermediate 1    Farm real estate     Other operating 2       Farm machinery

Quarter             Lower  Same   Higher  Lower  Same   Higher  Lower  Same   Higher  Lower  Same   Higher  Lower  Same   Higher
________________________________________________________________________________________________________________________________

                            Ninth (Minneapolis) Federal Reserve District (MI*, MN, MT, ND, SD, WI*)
________________________________________________________________________________________________________________________________
2001: Q1...    |       14     76      10     18     76       6     28     62      11      7     69      23     34     61       5
      Q2...    |       17     75       8     19     76       6     28     64       8      6     67      27     35     60       5
      Q3...    |       17     77       6     16     78       6     26     62      12     10     68      22     28     67       4
      Q4...    |       17     77       6     25     64      11     29     55      17      6     75      19     44     47       9
                                                                                                                                
2002: Q1...    |     n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.
      Q2...    |     n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.
      Q3...    |     n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.
      Q4...    |     n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.
                                                                                                                                
2003: Q1...    |     n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.   n.a.   n.a.    n.a.
________________________________________________________________________________________________________________________________
   Note. Beginning in 2002, the Minneapolis Reserve District will no longer report loan demand.
   1. Non-real-estate loans with a term greater than one season.  Primarily comprises loans for farm machinery.
   2. Loans used primarily to finance such items as current crop production expenses and the care and feeding of livestock
(including poultry).
   * State falls only partly within the indicated Reserve District.
   n.a. Not available.
   Source. Federal Reserve Bank quarterly surveys of agricultural credit conditions at commercial banks.

34