Overall: The region鈥檚 overall reading for June climbed to 52.6, its highest level since July 2023 and up from May鈥檚 45.7.

When asked to name the top federal action needed to drive farm and ranch income higher, 41.9% named lowering global tariffs; approximately 26.3% reported passage of a 5-year farm bill as the number one needed action; roughly 16.0% identified another federal bridge assistance program as the greatest need; and the remaining 15.8% identified year-round E-15 as the top policy changed needed for farming and ranching growth.

Farm equipment sales: The June farm equipment sales index increased to a weak 28.9 from May鈥檚 18.2. This is the 34^th straight month that the index has fallen below growth neutral.

鈥淭he 2026 conflict in Iran and tariffs on imported steel/aluminum has created even more volatility in the agricultural sector, impacting agricultural equipment sales by tightening farmer operating margins via increasing input costs,鈥� said Goss.

Farming and ranchland prices: For a second consecutive month, the farm and ranchland index increased, rising to 55.3 from 50.1 in May. 鈥淭hough farm and ranchland values have been holding up much better than farm income, weak farm income, lower farm liquidity and tougher credit standards have restrained farmland values,鈥� said Goss.

Bank CEOs estimated average cash rent per acre for non-irrigated farmland at $251 per acre, which is essentially flat from June 2022鈥檚 value of $250 per acre.

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Overall: The region鈥檚 overall reading for May dropped to 45.7 from April鈥檚 47.9. This marks the 15^th time since January 2025 that the index has moved below the growth neutral threshold. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淲eakness in farm commodity prices and elevated agriculture input costs are spilling over into the   rural business community. Approximately, 47.8% of bankers reported that the financial position of farmers in their area had deteriorated in 2026 from 2025,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University鈥檚 .

Farm equipment sales: The May farm equipment sales index slumped to a very weak 18.2 from April鈥檚 26.1. This is the 33^rd straight month that the index has fallen below growth neutral.

“The war in Iran has added volatility to an already-pressured agricultural sector, with rising input costs squeezing farmer operating margins, dampening equipment sales and reshaping planting decisions heading into the season.”

Farming and ranchland prices: After three straight months of falling farm and ranchland values, the region鈥檚 farm and ranchland price index expanded for May to a tepid 50.1 from 48.0 in April. 鈥淭hough farm and ranchland values have been holding up much better than farm income, weak farm income, lower farm liquidity and tougher credit standards have restrained farmland values,鈥� said Goss.

Confidence: Rural bankers remain pessimistic about economic growth for their area over the next six months. The May economic confidence index slumped to 34.8 from 39.1 in April. 鈥淚n spite of the potential for year-round E-15 ethanol sales, weak grain prices, higher input prices and expected negative farm cash flows continue to weigh on banker confidence,鈥� said Goss.

This month, approximately 47.8% of bank CEOs reported that financial conditions for farmers and ranchers had deteriorated in 2026, compared to 2025.

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Overall: The region鈥檚 overall reading for April improved to a weak 47.9 from March鈥檚 40.9. This marks the 14^th time since January 2025 that the index has moved below the growth neutral threshold. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淲eakness in farm commodity prices and elevated agriculture input costs are spilling over into the   rural business community. Approximately, 54.2% of bankers reported that their local economy was in a recession,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University鈥檚 Heider College of Business.

Farm equipment sales: The April farm equipment sales index slumped to a very weak 26.1, down from 28.6 in March. This is the 32^nd straight month that the index has fallen below growth neutral.

鈥淭he 2026 conflict in Iran has created even more volatility in the agricultural sector, impacting agricultural equipment sales by tightening farmer operating margins via increasing input costs and shifting farmer planting decisions,鈥� said Goss.

Farming and ranchland prices: For the third time in 2026, the region鈥檚 farm and ranchland price index sank below growth neutral to 48.0 from 50.2 in March. 鈥淭hough farm and ranchland values have been holding up much better than farm income, weak farm income, lower farm liquidity and tougher credit standards have pushed farmland values lower,鈥� said Goss.

Confidence: Rural bankers remain pessimistic about economic growth for their area over the next six months. Even so, the April confidence index rose to a weak 39.1 from 29.5 in March. 鈥淚n spite of $12 billion of federal farm support, weak grain prices, higher input prices and expected negative farm cash flows continued to weigh on banker confidence,鈥� said Goss.

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Overall: The region鈥檚 overall reading for February fell to 47.9 from 52.0 in January. This marks the12th time since January 2025 that the index has moved below the growth neutral threshold. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淒ue to weakness in the farm economy, especially for grain, approximately 75% of bankers support additional Congressional financial support for the agriculture sector. Pullbacks in farm exports for 2025 continue to undermine the regional farm economy,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair at Creighton University鈥檚 Heider College of Business.

The Federal Reserve鈥檚 interest rate setting committee, the FOMC, met January 27-28 to consider changing rates. Almost one in four bankers, or 23.1%, recommend reducing short-term interest rates by 25%.  Approximately 73.1% advocate no change, while the remaining 3.8% support a rate increase.

Farm equipment sales: The farm equipment sales index sank to a very weak 16.7 from 18.8 in January. 鈥淭his is the 30th straight month that the index has fallen below growth neutral. Lower interest rates and the $12 billion of federal farm support have yet to stimulate farm equipment sales,鈥� said Goss.

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Overall: The region鈥檚 overall reading for January climbed to 52.0, its highest reading since July 2023, and up from December鈥檚 50.1. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淢ore than one of three bankers, or 34.7%, indicated that their local economy was currently in a recession. Another 26.9% expect their local economy to experience recession conditions in the first half of 2026,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University鈥檚 Heider College of Business.

Regarding President Trump鈥檚 imposition of tariffs, almost four in 10 bankers, or 38.4%, support pulling back on tariffs.

The Federal Reserve鈥檚 interest rate setting committee, the FOMC, meets January 27-28 to consider changing rates. Almost one in four bankers, or 23.1%, recommend reducing short-term interest rates by .25%. Approximately 73.1% advocate no change, while the remaining 3.8% support a rate increase.

Farm equipment sales: The farm equipment sales index sank to a very weak 18.8, but was up from December鈥檚 even weaker 15.0. 鈥淭his is the 29th straight month that the index has fallen below growth neutral. Lower interest rates and the impending $12 billion of federal farm support have yet to stimulate farm equipment purchases,鈥� said Goss.

Farming and ranching land prices: After rising above growth neutral in December, the farm and ranchland index fell below the threshold for January with an index of 46.0, which was down from 52.5.  

Confidence: Rural bankers remain pessimistic about economic growth for their area over the next six months. The January confidence index rose to 44.0, its highest reading since February 2023, and up from 40.9 in December. 鈥淒espite $12 billion of federal farm support, weak grain prices and negative farm cash flows, combined with tariff retaliation concerns, continue to weigh on banker confidence,鈥� said Goss.

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Overall: The region鈥檚 overall reading for September fell to 38.5 from 48.1 in August. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淲eak agriculture commodity prices for grain producers continue to dampen economic activity in the 10-state region. Almost three of four bank CEOs and chief loan officers indicated that falling agriculture commodity prices represented the greatest threat to banking operations over the next 12 months,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University.

Farm equipment sales: The farm equipment sales index improved slightly to a very weak 15.2 from August鈥檚 14.6. “High input costs, tighter credit conditions, low farm commodity prices and market volatility from tariffs are having negative impacts on the purchases of farm equipment,鈥� said Goss.

Confidence: Rural bankers remain pessimistic about economic growth for their area over the next six months. 鈥淲eak grain prices and negative farm cash flows, combined with tariff retaliation concerns, pushed banker confidence lower,鈥� said Goss.

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鈥� For the 12th time in the past 13 months, farmland prices sank below growth neutral.

鈥� Farm equipment sales dropped below growth neutral for the 21st straight month.

鈥� Federal Reserve interest rate policies have boosted CD purchases above growth neutral for 30 straight months.

鈥� Approximately 68% named lower ag commodity prices as the number one farming threat, while 23.5% indicated higher tariffs as the top risk factor.

鈥� According to trade data from the International Trade Association (ITA), regional exports of agriculture goods and livestock for the first quarter of 2025, compared to the same 2024 period, fell from $3.4 billion in 2024 to $2.7 billion in 2025 for a decline of 19.3%.

鈥� For Q1, 2025, Mexico was the top destination for regional ag exports, accounting for 50.6% of total regional agriculture and livestock exports.

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For the 19th time in the past 20 months, the overall Rural Mainstreet Index (RMI) sank below the 50.0 growth reading in April, according to the recently-released monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.

The region鈥檚 overall reading for April fell to 40.0 from March鈥檚 41.1. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淭he economic outlook for 2025 farm income remains weak, according to bank CEOs. Despite the negative fallout from tariffs, 75% of bankers support the tariffs on China, and 79.2% back the 90-day pause on other tariffs,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University. Farm equipment sales: The farm equipment sales index dropped to a very weak 17.4 from 20.8 in March. 鈥淭his is the 20th straight month that the index has fallen below growth neutral. High input prices, tighter credit conditions and market volatility from tariffs are having a negative impact on the purchases of farm equipment,鈥� said Goss.

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Farm equipment sales: The farm equipment sales index rose to a very weak 18.2 from January鈥檚 17.4. 鈥淭his is the 19th straight month that the index has fallen below growth neutral. High input prices, tighter credit conditions and weak farm grain prices are having a negative impact on the purchases of farm equipment,鈥�  Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University鈥檚 Heider College of Business.

Farming and ranch land prices: For the 8th time in the past nine months, farmland prices sank below growth neutral. The region鈥檚 farmland price index fell to 40.0, its lowest level since October 2024, and down from 42.0 in January.

Confidence: Rural bankers remain pessimistic about economic growth for their area over the next six months. The February confidence index sank to 40.0 from January鈥檚 42.3. 鈥淲eak grain prices and negative farm cash flows, combined with downturns in farm equipment sales over the past several months, continued to push banker confidence below growth neutral,鈥� said Goss. 

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Overall: The region鈥檚 overall reading for November climbed to a soft 50.2 from October鈥檚 very weak 35.2. It was the highest reading since July of last year. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

鈥淵ields have been healthy across the region and have offset some of the weakness in farm commodity prices. Likewise, lower fuel costs and lower short-term interest boosted the modest improvement in farm conditions for the month. Even so, more than eight of 10 bankers see lower ag commodity prices as the greatest threat to the farmer,鈥� said Ernie Goss, PhD, Jack A. MacAllister Chair in Regional Economics at Creighton University鈥檚 Heider College of Business.

Farm 婷婷激情五月天 Sales: The farm equipment sales index slumped to 14.6, its lowest level since October 2016, and was down from 18.8 last month. 鈥淭his is the 16th straight month that the index has fallen below growth neutral. High borrowing costs, tighter credit conditions and weak farm commodity prices are having a negative impact on the purchases of farm equipment,鈥� said Goss.

Farming and Ranching Land Prices: For the sixth time in the past seven months, farmland prices sank. However, the region鈥檚 farmland index improved to a weak 44.4 from October鈥檚 six-year low of 38.5. 鈥淓levated interest rates and higher input costs, along with below break-even grain prices, have significantly reduced farmer demand for ag land,鈥� said Goss.

Interest Rates: Approximately 64.3% of bankers recommended that the Federal Reserve make no change to short-term interest rates at its December meeting. The remaining 35.7% advocated a 0.25% reduction.

Banking: The November loan volume index declined to a solid 58.9 from a strong 73.1. The checking deposit index fell to 59.3 from 63.7 in October. The index for certificates of deposits (CDs) and other savings instruments sank to 53.7 from 63.5 in October. The Federal Reserve鈥檚 higher interest rate policies have boosted CD purchases above growth neutral for 24 straight months.

Hiring: The new hiring index for November was unchanged from October鈥檚 50.0.

Confidence: Rural bankers remain pessimistic about economic growth for their area over the next six months. The November confidence index increased to a weak 46.4, its highest level since March 2022, and up from October鈥檚 29.6. 鈥淲eak agriculture commodity prices and negative farm cash flow, combined with downturns in farm equipment sales over the past several months, continued to place banker confidence below growth neutral,鈥� said Goss.

Home and retail sales: Home sales sank to 42.6 from October鈥檚 weak 46.3. Likewise, retail sales in the region were very weak with a November reading of 42.0, up from October鈥檚 even weaker 36.0.

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