Rural Mainstreet Index at Highest Level in Almost 5 Years

For a fourth straight month the overall index rose above growth neutral. On average, bankers expect farm loan defaultsto rise by only 3.0 percent over the next 12 months. • Over the past year, average annual cash rents on farmland declined by 3.0 percent to $239 per acre. More than one-third of bank CEOs identified rising regulatory costs as the top economic challenge to their banking operations over the next five years. The Creighton University Rural Mainstreet Index climbed above growth neutral in May for a fourth straight month, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. This is the first time since the July 2015 that we have recorded four straight months of overall indices above growth neutral. bank CEOs identified rising regulatory costs as the top economic challenge to their banking operations over the next five years. Farming and ranching: The farmland and ranchland-price index for May declined to 42.2 from April’s 42.9. This is the 54th straight month the index has fallen below growth neutral 50.0.