Farm Economy Remains Strong in Missouri

The Agriculture Economy in several state remains strong.

The strength of the economy in rural parts of Missouri along with nine other Plains and Western states continues to drive farmland prices and farm equipment sales higher, according to a new monthly survey of bankers in the region released Thursday.

The overall economic index for the region grew to 61.5 in February from January’s 61.1. Any score above 50 suggests a growing economy. 

Creighton University economist Ernie Goss, who oversees the survey, tells the Associated Press that there could be a few bumps in the road ahead the bankers in this region expect corn and soybean prices to slip over the next six month, which would hurt the rural economy but for now, farmland prices and farm equipment sales continue growing. 

The farmland price index dipped in February but remained at a high level of 78.8. That’s down from 88.5 last month while the farm equipment sales index also remained high at 72 in February even though it slipped from January’s 72.4.

(From KTLO/Associated Press)