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" 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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