A recent survey of Midwest bankers shows a “significant increase” in farm loan rejections. Creighton University professor Ernie Goss surveys the presidents and C-E-Os of rural banks in Iowa and nine other Midwest states. He found nearly 43 percent of initial farm loan applications had been rejected as bankers react to weak farm income. The financial pinch will be compounded this fall, according to Goss, who expects the Federal Reserve to raise interest rates.

“We’re likely to see short-term interest rates, from our survey, maybe growing by as much as three-quarters of a percent by the end of the year,” Goss says. Goss says the overall Midwest economy is growing, but concerns about trade “skirmishes” are slowing that growth. Goss predicts farm equipment sales may soon take a hit.

“For Iowa, you’ve got agricultural equipment manufacturers that are certainly big users of aluminum and steel. They are seeing some price increases and that’s going to really have a negative impact on that industry,” Goss says. “While the industry was doing well for June, I expect that to slow down somewhat because of these tariffs, because of these price increases and also the trade tensions as well.”

Prices remain below “break-even” for a large share of grain farmers and Goss’s survey indicates there’s been a slight “slump” in checking account deposits in rural banks. Two-thirds of the bankers he surveyed indicated their bank has increased collateral requirements on farm loans. The professor’s job index in rural areas of Iowa was in negative territory for June.

(Radio Iowa)

A Central Iowa woman died early this (Wednesday) morning during a single-vehicle crash on Interstate 80 in Adair County. The Iowa State Patrol reports 28-year old Sheana Marie Story, of Des Moines, who was not wearing a seat belt, died in the crash that happened at around 6-a.m. on I-80 westbound, about a mile west of the Greenfield Exit.

Authorities say the 2006 Ford Fusion she was driving, drifted off the road and hit a cable barrier on the shoulder and continued into the ditch, rolling end-over-end three or four times before coming to rest facing southwest on its wheels. Story was ejected from her car as it rolled, and came to rest 12 feet away from the vehicle.

The Adair County Medical Examiner declared her deceased at the scene. The accident remains under investigation.

Construction work to set bridge beams on the northbound Interstate 29 bridge over Floyd Boulevard in Sioux City, will require closing Floyd Boulevard from 9 a.m. until 3 p.m. Saturday, July 7, weather permitting, according to the Iowa Department of Transportation’s Sioux City construction office.

Motorists wanting to go to southbound I-29 will be directed around the work zone by traveling onto I-29, then left on Wesley Parkway, and then left on the southbound on-ramp. Motorists wanting to exit southbound I-29 to Floyd Boulevard will take Exit 149 to Wesley Parkway and utilize surface streets to Floyd Boulevard.

More State and area news from KJAN News Director Ric Hanson.

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The area’s latest and/or top news stories at 7:06-a.m. From KJAN News Director Ric Hanson

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DES MOINES, Iowa (AP) — An Iowa school district is hiring more security personnel after receiving special permission to spend $1.1 million beyond state spending limits. The Davenport Community School District received approval Tuesday from the School Budget Review Committee to hire 18 unarmed security supervisors, even as the district works to cut spending in other areas. Superintendent Art Tate says the personnel costs will be covered by grants or other funding in future years.

Davenport’s plan comes as schools across Iowa are working to comply with a new law requiring security plans developed in coordination with law enforcement and emergency management officials. Iowa Department of Education director Ryan Wise says Iowa schools are safer than they were five years ago, but more can be done. Schools must have plans finalized by June 30, 2019.

An El Nino Watch is being issued by the Climate Prediction Center, as conditions become favorable for the development of another round of Pacific Ocean warming. Meteorologist Dennis Todey, director of the U-S-D-A’s Midwest Climate Hub, based in Ames, says we’ll likely feel the impact in a few months. “We could see an El Nino occur probably into the fall, is what I would guess we’re looking at,” Todey says. “There is a fairly decent pool of warm water in the subsurface in the equatorial Pacific. When you start seeing that and the computer models all line up I’d say, yeah, we’re probably headed that way.”

Farmers across Iowa will need to take particular note as the weather pattern often shifts the region’s climate. Todey says the impacts of the developing El Nino will be felt late this year into next. “We have an increased chance of being warmer during the wintertime with El Nino,” he says. “The storm track moves up a little bit further north, you may have more mixed-precipitation-types of storms with the warmer temperatures than overall snowfalls.”  Todey says they are also watching the current warming trend across the Northern Plains. “Even if you’ve got decent soil moisture, warmer temperatures start to extract more water from the soil because of higher atmospheric demand,” Todey says. “We’re getting to that time of year where corn is starting to use more water anyway. That’s a more immediate concern and then it becomes how much more precipitation are we really going to get, and that’s been a tough call so far this year.”

Todey says a La Nina — or cooling of the ocean — ended last year and we’ve been in a neutral phase since then.

(Radio Iowa)

A Red Oak man was arrested Tuesday evening on an alcohol-related charge. Red Oak Police report 34-year old Kirby David Stoneking was taken into custody for Public Intoxication at around 7:45-p.m. in the 100 block of W. Coolbaugh Street. Stoneking was brought to the Montgomery County Law Enforcement Center, and held on a $300 bond.

**A HEAT ADVISORY IS IN EFFECT FROM NOON TO 8 PM TODAY (WEDNESDAY), FOR ALL BUT THE NORTHWEST CORNER COUNTIES IN IOWA**

Heat Advisory (Counties in orange) from Noon-to 8-p.m (7/4/18)

* TEMPERATURE… Temperatures in the lower 90s coupled with dewpoints in the middle 70s will result in heat indices between 100 and 105 degrees in most areas, and from 105 to 110 degrees in the far west/southwest counties.

* IMPACTS…Heat illnesses are possible for those active outdoors this afternoon. Vulnerable populations such as children and the elderly are especially susceptible. Those planning outdoor holiday activities need to take necessary precautions to beat
the heat.

PRECAUTIONARY/PREPAREDNESS ACTIONS…

A Heat Advisory means that a period of hot temperatures is expected. The combination of hot temperatures and high humidity will combine to create a situation in which heat illnesses are possible. Drink plenty of fluids, stay in an air-conditioned
room, stay out of the sun, and check up on relatives and neighbors.

Fewer communities are allowing their residents to use fireworks this year, the second Fourth of July holiday since Iowa lawmakers legalized fireworks sales in the state. Many cities made changes to their fireworks policies after receiving numerous complaints last year. Marion, in Linn County, is among the communities limiting when fireworks can be used – from noon till 11 p.m. on the Fourth. Marion Police Department spokesman Tom Daubs is hopeful it will mean fewer complaints than last year.

“But, if you have too many people violating that, and too many people are upset and present a case to cancel the fireworks, I can see a case where we would go along the lines of a Waterloo or other communities and cancel it,” Daubs says. “But, I don’t think we’re to that point yet. I hope we’re still hoping people will use their common sense and be respectful, and we’ll see how it shakes out.”

Waterloo Fire Chief Pat Treeloar says local leaders banned the personal use of fireworks after getting about 800 complaints last year. He hopes this will be a quieter Fourth. “We’re certainly under the impression that the first year, last year…I think the novelty will wear off a little bit,” Treeloar says. “We’re sure hoping that our complaints and calls for service go down.”

Des Moines, Cedar Rapids, Davenport, and Dubuque are among the other cities NOT allowing personal use of fireworks this year. Cities such as Council Bluffs and Sioux City, like Marion, ARE allowing their use, but for a shorter period of time than last year. Today (Wednesday) is the last legal day for fireworks use in Atlantic. They are permissible on private property only, from Noon until 11-p.m.  After today, fireworks are allowed from 6-p.m. New Year’s Eve 2018 through 12:15-a.m. New Year’s Day, 2019.

(Radio Iowa)