10% Gain Seen In Central Corn Belt Farmland Values Over Year Ago
Nov 18, 2010
The value of "good" Corn Belt farmland rose 10% in the third quarter of 2010 versus a year ago, reports the Federal Reserve Bank of Chicago. Its quarterly survey found values jumped 3% during the third quarter compared to the previous quarter. The bank said values surged 13% on an annual basis in Iowa; jumped 11% in Indiana; rose 10% in Michigan; gained 8% in Illinois, and increased 3% in Wisconsin. .
The bank survey also found 48% of respondents expected farmland values to rise during the final quarter of 2010 while 49% expected farmland values would remain stable in the fourth quarter.
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