Creighton's Rural Mainstreet Index: "Rural Bankers: Farm Loan Defaults to Double from 2017 Levels"

Via AgWeb:

For the first time since November, the Rural Mainstreet Index (RMI) fell below growth neutral. The monthly survey of bank CEOs in a 10-state Midwest region is at 48.5 for May 2019, which is at growth neutral and down from 50.0 in April. This is the first month of negative growth, after five months of growth. The index ranges between 0 and 100 with 50.0 representing growth neutral.

“The trade tensions and tariffs are hammering the farming economy,” says Ernie Goss, who chairs Creighton’s Heider College of Business and leads the RMI. “Grain farmers throughout the region continue to experience losses produced by trade issues and plentiful global supplies. On the other hand, the expanding U.S. domestic economy is supporting livestock producers in the region. For May, according to bankers, the negatives far outweighed the positives.”

On average, bankers expect farm loan defaults to climb by 10.9%. This is more than double the estimated rate of growth just two years ago.....MORE

I went to Professor Ernie's Heider Business School site and only saw the April report. If the May should pop up next week we will link.