News

Survey: Bankers more confident in ag economy

A survey of rural bankers in ten Midwest and Plains states reflects a growing confidence in the agricultural economy.

Improvements in the prices for farmland and cattle seem to be fueling the renewed optimism.  A banker in north-central Kansas reports that 800 acres recently sold at an all-time high.  And Larry Rogers of the Utica, Nebraska-based First Bank says a 143-acre farm recently sold for 8,025 dollars an acre.

Farm equipment sales are also picking up.  The survey’s farm equipment-sales index rose in April to 57.2, compared to 41.4 in March.

The Rural Mainstreet survey is conducted by Creighton University economist Ernie Goss.  It includes bankers in Missouri, Iowa, Nebraska, Illinois, Colorado, Kansas, Minnesota, Wyoming and the Dakotas.