OMAHA, Neb. — The economy in rural parts of 10 Plains and Western states remains strong, according to a new monthly survey of bankers in the region, but those bankers said they have growing concerns about the rising costs associated with running farms.
The overall Rural Mainstreet economic index fell in January to 61.1 from December’s 66.7. Any score above 50 suggests a growing economy, while a score below 50 suggests a shrinking economy.
“Solid grain prices, the Federal Reserve’s record-low short-term interest rates, and growing agricultural exports have underpinned the Rural Mainstreet Economy,” said Creighton University economist Ernie Goss, who oversees the survey.
Bankers surveyed listed their top concern for farmers in 2022 as rising inflation that’s driving up the prices of farm supplies, from fuel to fertilizer. Disruptions of the delivery of farm supplies ranked second among bankers’ concerns, and rising interest rates…
