Economic Outlook: October 22, 2021

Oct 22, 2021  | Ep4710

The economic outlook for rural America could be described as both profitable and perilous as producers are caught between higher grain prices and higher input prices.

- The 10-state Creighton University Rural Mainstreet Index advanced slightly, remaining above growth neutral last month. The majority of bankers surveyed indicated farmers were in a strong cash position but faced transportation bottlenecks in the future.

Despite higher prices, sales of existing homes moved seven percent higher last month as buyers watched mortgage rates tick higher and decided to take the plunge.

The recovering economy has helped reduce the U.S. Budget Deficit. However, at $2.77 trillion it’s still the second highest on record. --

Grinnell Mutual Insurance