Farmland values across the central and southern Plains held firm during the second quarter of 2009, according to the quarterly survey of ag bankers conducted by the Federal Reserve Bank of Kansas City. The bank serves Kansas, northwest Missouri, Nebraska, Oklahoma, Colorado, Wyoming and northern New Mexico.
The bank says non-irrigated cropland values were flat compared with a year earlier. The survey found a 2.4% rise in irrigated cropland versus a year earlier. It reported a 1.5% increase in ranchland values versus a year earlier. The bank says the supply of farms for sale remained limited. Renewed interest from non-farm investors along with robust farmer demand helped support famland values, it says. The majority of survey respondents felt farmland values would hold steady over the next few months, with very few contacts expecting further value gains in value.
Click here to see the bank's report.
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