Interest rates for farm operating loans have increased to an average of 4.9 percent this spring, up from 3.5 percent in the final quarter of 2015, when rates scraped a historic low, according to the Federal Reserve, Successful Farming reported. Rates on other types of ag loans are rising at a slower pace. The impact of higher rates on production costs is relatively small, equal to less than 1 bushel an acre for a Midwestern corn farm. “Additional increases in rates could put more pressure on some farm operations,” said the report, but the delinquency rate on farm loans remains low. “The increase in rates on operating loans, however, is more notable because these loans account for about 60 percent of the volume of non-real estate loans at commercial banks,” according to the report. The report was written before the Federal Reserve raised its benchmark interest rate by one-quarter point in June.