Bank CEOs Expect Another Three Percent Decline in Farmland Prices

The overall index slipped slightly to growth neutral. More than three-fourths of bank CEOsreport a shortage of qualified or skilled workers as having a nega-tive impact on economic growth. On average, bankers project that farmland prices will decline by another three percent over the next 12 months. Due to weak farm income, almost one fourth of bankers reported rejecting a higher percentage of farmer loan applications and approximately 60.9 percent reported boosting collateral on farm loans.