Mike Walsten
The value of good central Corn Belt cropland gained 25% for the year ending September 30, reports a survey conducted by the Federal Reserve Bank of Chicago. The Chicago Fed bank serves the northern two-thirds of Illinois, Indiana, Iowa, the lower Pennisula of Michigan and southeastern Wisconsin.
The survey found the value of district cropland rose 25% compared to a year earlier and 7% compared to the previous quarter. Leader the gain was Iowa which reported a 31% annual increase followed by Indiana with a 29% annual gain. Illinois posted a 23% increase while Michigan registered a 16% rise and Wisconsin a 17% gain.
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