The agricultural economy is not expected to experience demand related price strength until later this Year. Recovery of the world economy offers little immediate hape for expanded U.S. agricultural eliports. Farm commodity programs have improved sagging farm prices and the acreage reduction and PIK programs for the 1983/84 crop year will reduce farm Production expenditures and credit -- needs. Farmland values continued to decline during the fourth quarter of 1982,- . but the rates of decline in many areas were less than those experienced earlier. Interest rates have declined since the middle of 1962, but they remain high in real termp. A relatively large percentage of the customers of farm lenders _will continue to have serious cash flow problems. Host lenders believe credit problems will continue through 1983. Funds are available to credit-worthy farm borrowers and most lenders are exercising forebearance with customers experiencing cash flow difficulties.