News

Banker says producers off to stronger start in 2021

A Nebraska banker says ag producers are positioned to be more profitable in 2021 than they have been the last several years.

O’Dell State Bank Owner Jim Stanoshek tells Brownfield the farm economy is trending in the right direction. “It looks better. I mean it looks a little better as we start this year. We’re going to see most of our stuff cleaned up from 2020 and we have a good position to start,” he says.

He says producers have benefited from government assistance like the Paycheck Protection Program and small businesses loans. “It’s going to help and while it’s not a lot of money it’s going to help with the better prices,” he says.

Stanoshek says lower interest rates should help offset higher fertilizer and fuel costs.

While he’s optimistic about the farm economy in 2021, he says there are other factors, like Mother Nature, that could change his outlook.