A survey of bank CEOs across a 10-state area shows the Rural Economic Index remained steady with the previous month at 54.3. The monthly index is only 4.3 points above growth neutral and 3.2 points below the index from a year ago.

Results show month-to-month increases in farmland prices and farm equipment sales, with the farmland-price index advancing for only the second time in the past 12 months. Farm equipment sales increased by 2.7 points to 47.3, showing losses are slowing, however this month’s index figure is much lower than the 60.4 recorded a year earlier.

The long-term outlook for farmland price growth is expected to slow and potentially decline over the next year.

Lower corn values spurred by increased production numbers is affecting rural economies as subtle growth continues, but retail business and hiring retract.

A survey of bank CEOs across a 10-state area shows the Rural Economic Index remained steady with the previous month at 54.3. The monthly index is only 4.3 points above growth neutral and 3.2 points below the index from a year ago.

Results show month-to-month increases in farmland prices and farm equipment sales, with the farmland-price index advancing for only the second time in the past 12 months. Farm equipment sales increased by 2.7 points to 47.3, showing losses are slowing, however this month’s index figure is much lower than the 60.4 recorded a year earlier.

The long-term outlook for farmland price growth is expected to slow and potentially decline over the next year.
Lower corn values spurred by increased production numbers is affecting rural economies as subtle growth continues, but retail business and hiring retract.

A survey of bank CEOs across a 10-state area shows the Rural Economic Index remained steady with the previous month at 54.3. The monthly index is only 4.3 points above growth neutral and 3.2 points below the index from a year ago.

Results show month-to-month increases in farmland prices and farm equipment sales, with the farmland-price index advancing for only the second time in the past 12 months. Farm equipment sales increased by 2.7 points to 47.3, showing losses are slowing, however this month’s index figure is much lower than the 60.4 recorded a year earlier.