OMAHA, Neb. (AP) — A new survey says farmland prices are expected to continue their decline in parts of 10 Plains and Western states.

The latest Rural Mainstreet survey shows that on average, bank CEOs in the region estimated farmland prices declined by 4 percent over the past 12 months. They expect farmland prices to fall by another 3.2 percent over the next 12 months.

Related: What Are Tariffs? And Where Does The Money Go?

Creighton University economist Ernie Goss says the survey also shows the farm sector is being weakened by negative impacts of tariffs and low agriculture commodity prices.

The overall economic index for the region increased slightly to 54.3 from 51.5 in September. That score still suggests growth because it is above 50, while any score below 50 indicates a shrinking economy.

Related: More Big Corporations Warn That Tariffs Will Mean Price Hikes

Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Related: Minn. Counties Try To Get Ahead Of Potential Price Hikes Due To Tariffs

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.