EXCHANGE: Grain tour shows off latest agriculture technology

Wes Seifert, of RTS Family Farms, shows an ear of corn pulled from their fields to Enrique Jiménez, an international buyer from Mexico, during the Illinois Dept. of Agriculture's Illinois Grain Tour stop at RTS Family Farms, Tuesday, Aug. 27, 2019, in Auburn, Ill. The Illinois Grain Tour has eight stops across Illinois and provides Illinois farmers, producers and retailers the opportunity to showcase their products to foreign investors and in the past five years has generated $345 million in sales. [Justin L. Fowler/The State Journal-Register via AP)

A depressed farm sector caused both Missouri and Illinois to lag the nation in second-quarter personal income growth, the Commerce Department reported Tuesday.

Missourians' incomes rose at a 4.6 percent annual rate in the April-June quarter, compared with 4.2 percent growth in Illinois. U.S. personal income rose 5.4 percent in the period, a slowdown from 6.2 percent growth in the first quarter.

Missouri's income growth has trailed the nation's in 12 of the 18 quarters since 2015. Illinois outperformed in only two of those quarters. 

In Missouri, Illinois and the nation, income from interest, dividends and rent grew more rapidly than earnings from wages or business ownership.

Farm income declined, the Commerce Department said, because relief payments to farmers affected by Chinese tariffs were smaller in the second quarter than the first quarter. The department's personal-income map shows a swath of below-average growth in agriculture-dependent Midwest and Great Plains states.

In Missouri, the financial services industry was the largest contributor to first-quarter earnings growth. Illinois' largest growth contribution came from professional, scientific and technical services.

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