Community Bankers of Iowa Monthly Banker Update June 2014 | Page 18

(Rural Mainstreet continued from previous page)
Illinois: For a second straight month Illinois’ RMI increased,
rising to 55.8 from April’s 53.3. The Illinois farmland-price index
rose to 42.3 from April’s 36.2. The state’s new-hiring index
improved to 59.6 from April’s 57.4.
Iowa: The May RMI for Iowa expanded to 55.8 from April’s 53.5.
The farmland-price index for May advanced to a weak 44.1 from
April’s 41.4. Iowa’s new-hiring index for May dipped to 61.1 from
61.6 in April.
Kansas: The Kansas RMI for May climbed to 56.3 from 53.8 in
April. The farmland-price index for May increased to 52.2 from
April’s 46.3. The state’s new-hiring index advanced to 67.5 from
April’s 65.4. Dan Coup, of First National Bank in Hope, said,
“Dry weather is a concern in our area for our crop producers
and also cattlemen planning on grazing cattle this summer.
The wheat crop in the area is heading and in poor condition, I
anticipation the yields to be the poorest in years.”
Minnesota: The May RMI for Minnesota rose to 56.4 from
April’s 54.1. Minnesota’s farmland-price index for May increased
to 55.2 from April’s 50.0. The new-hiring index for the state grew
to 69.9 from 65.7 in April. Bryan Grove, CEO of American State
Bank of Grygla reported, “Northwest Minnesota needs warm
weather and sunshine. We’ve had an extended period of cold,
rainy weather that has prevented any spring fieldwork. Farmers
are anxious to get to work.”

Missouri: The May RMI for Missouri jumped to 57.2 from April’s
51.3. The farmland-price index for May soared to 68.4 from
April’s 42.3. Missouri’s new-hiring index skyrocketed to 80.5
from 55.5 in April.
Nebraska: Nebraska’s RMI expanded to 55.3 from April’s 53.0.
The farmland-price index for May advanced to a very weak 37.1
from 35.8 in April. Nebraska’s new-hiring index dipped to a solid
55.4 from April’s 57.1. Several bankers reported negative fallout
from bad weather. For example, Larry Rogers, executive vicepresident of First Bank of Utica said, “We have heard 120 pivots
from Cordova to Seward will have to be replaced as a result of
the Sunday tornados. (It) will hurt our area economy.”
North Dakota: The North Dakota RMI for May dipped to 57.8
from April’s 59.4. The farmland-price index grew to 71.8 from
April’s 64.5. North Dakota’s new-hiring index expanded to 83.2
from April’s 80.0.
South Dakota: The May RMI for South Dakota expanded
to 55.7 from April’s 53.4. The farmland-price index for May
increased to 41.9 from 38.1 in April. South Dakota’s new-hiring
index advanced to 59.3 from April’s 58.9.
Wyoming: The May RMI for Wyoming increased to 56.0 from
53.6 in April. The May farmland and ranchland-price index grew
to a 47.4 from April’s 40.9. Wyoming’s new-hiring index for May