Ag lenders says that farm income and agricultural credit conditions improved significantly over major portions of the U.S. over the fourth quarter. Officials with the Kansas City Federal Reserve say on average farm loan repayments increased for the first time in eight years. Nebraska Farm Bureau Senior Economist Jay Rempe says that’s good news for farmers and ranchers in the Northern Plains.

The rate of loan repayment increased from a year ago in all participating Federal Reserve Districts except Dallas with the fastest pace of increase reported in the Minnesota and Chicago District. Rempe says that’s encouraging considering all the economic upheaval faced in those areas.

He says he’s seeing other signs that seem to indicate the farm economy is starting to pick up including the stabilization of land prices and low interest rates.

The Ag lenders also said in their report that fund availability increased at the fastest pace since 2013.