(DES MOIINES) The latest “main street” survey of rural Midwest Bankers finds a little “softening” in the rural economy, largely due to lower commodity prices this year.
“The Bankers expect farm income to be down this year compared to last year by about three percent, that’s showing up in our numbers, but even with that the numbers are still pretty good, especially compared to what we’ve seen in prior years,” said Creighton University Economist Ernie Goss.
Goss says interest rates are creeping up a little, which means slower increases in farmland values. He says the Bankers are predicting average equipment sales, but many are anxious to see a Farm Bill passed in Washington.
Iowa Radio Network