The value of Central Corn Belt farmland rose 17% versus a year earlier, according to a survey conducted by the Federal Reserve Bank of Chicago. The bank serves the northern two-thirds of both Illinois and Indiana, all of Iowa, the lower peninsula of Michigan and southeastern Wisconsin. The survey found "good" agricultural land increased 4% during the second quarter versus the first quarter. Further, the survey found more than 60% of the 226 ag bankers responding thought farmland values would stabilize during the third quarter while about a third thought values would move higher.
On an annual basis, Indiana posted a 21% increased followed by a 20% gain in Iowa, 19% in Illinois, 12% in Michigan and 8% in Wisconsin. Click here for the full report.
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