RMI Hits Highest Level in 22 Months

May 19, 2017 09:21 AM
 
 

Creighton University’s Rural Mainstreet Index (RMI) is showing signs of life following two years of anemic readings after reaching its highest level since July 2015.

On a scale of 0 to 100, it hit 50, six points higher than the April reading.

The RMI shows ag equipment sales jumped to its highest level in more than two years. Despite the uptick, a majority of the bankers in rural regions continue to have a pessimistic outlook until commodity prices begin to trend higher.

“With lower net farm income, the thing we need to remember is bushels pay the bills,” said Marc Mummelthei of Mummelthei Seed. “We need to do everything to increase our production to maximize our production and every acre.”

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