The October Federal Reserve Beige Book is out, providing a snapshot of economic activity across the Federal Reserve Districts, including Chicago and Kansas City. Those two branches have the most agronomic insights.

In the Chicago report, consumer spending was up modestly, but they are trading down for value options. Farm income expectations remain stable. In Kansas City District, it showed a favor to affordable items and economy vehicles, as well as a strain in manufacturing. In ag, farm income remains under pressure. Demand for ag loans is up.

Photo: tupungato /Getty Images

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.