The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
The value of good central Corn Belt cropland gained 25% for the year ending September 30, reports a survey conducted by the Federal Reserve Bank of Chicago. The Chicago Fed bank serves the northern two-thirds of Illinois, Indiana, Iowa, the lower Pennisula of Michigan and southeastern Wisconsin.
The survey found the value of district cropland rose 25% compared to a year earlier and 7% compared to the previous quarter. Leader the gain was Iowa which reported a 31% annual increase followed by Indiana with a 29% annual gain. Illinois posted a 23% increase while Michigan registered a 16% rise and Wisconsin a 17% gain.
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