The Rural Mainstreet Index that Creighton University calculates after surveying rural bankers in Iowa and nine other Midwest states has dropped for the fourth time in the past six months. Iowa’s index was in negative territory in August and Creighton University economist Ernie Goss says it has dropped another point-and-a-half this month.
Goss says rising corn and soybean prices are the bright spot in the rural economy.
But Goss says operating costs for farmers are rising faster than grain prices.
Creighton’s Rural Mainstreet Index report for September notes exports of all Iowa farm commodities are up over nine percent compared to a year ago.
The report’s year-to-year comparisons show home sales are down in the 10 state region and nearly 80 percent of the rural bank executives surveyed said trade and tariffs are having a negative impact on their ag customers.
