A new KC Fed Ag Credit Survey says farmland values held steady in the fourth quarter last year. The report says in the Kansas City district that includes much of the southern plains, the value of non-irrigated and irrigated cropland fell only 3% from the previous year.
It says ranchland values increased 3% for the second quarter in a row. That's the first consecutive increase in ranchland values since 2015.
Although some bankers still expect farmland values to increase slightly this year, 61% of those surveyed expected farmland values to decline. While 32% expected values to remain unchanged. You can read the full report here.