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Your Precious Land

RSS By: Mike Walsten, Pro Farmer

Mike Walsten has covered major business trends in agriculture for more than 35 years.

Farmland Values Rise Across Central Corn Belt

Feb 25, 2010

Mike Walsten

The value of "good" agricultural land rose 2% the fourth quarter of 2009 across the central Corn Belt and lifted values a similar 2% on an annual basis. That's according to the most recent survey of ag credit conditions conducted by the Federal Reserve Bank of Chicago. The Fed bank serves the northern two-thirds of both Illinois and Indiana, all of Iowa, the lower peninsula of Michigan and the southeastern half of Wisconsin.

According to the survey, cropland finished 2009 2% higher in Illinois, up a strong 7% in Indiana and up 4% in Iowa when compared to a year earlier. However, economic woes continue in Michigan and Wisconsin which reported declines of 6% and 1% on an annual basis, respectively.

Click here for the full report.

The corresponding survey conducted by the Federal Reserve Bank of Minneapolis indicates farmland values firmed in that region as well, but weakness is still evident in ranchland/pasture values and in Wisconsin. That bank serves Minnesota, Montana, the Dakotas, northwestern Wisconsin and the upper peninsula of Michigan. The survey found the value of dryland cropland rose a slim 0.2% on an annual basis while irrigated cropland gained 2%. Ranchland, however, fell 4.5%.

Click here for the full report.

I also include more details in my LandOwner newsletter. If interested in seeing a copy of LandOwner, just drop me an email at landowner@profarmer.com or call 800-772-0023.

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