Midwest farmland values hit record increase

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Farmland values have the largest gain in eight years. Values for “good” agricultural land increased 3 percent in the second quarter of 2021 from the first quarter, according to a survey of 152 District bankers. With 70 percent of the survey respondents forecasting increased farmland values during the July through September period of 2021 and 30 percent forecasting stable values, such values are expected to increase again during the third quarter of this year.

LeeAnne Bulman/For Agri-View

David B. Oppedahl Federal Reserve Bank

Farmland values for the Seventh Federal Reserve District climbed 14 percent on a year-over-year basis in the second quarter of 2021 — their largest such gain in eight years. Values for “good” agricultural land moved up 3 percent in the second quarter of 2021 from the first quarter, according to a survey of 152 District bankers. With 70 percent of the survey respondents forecasting higher District farmland values during the July through September period of 2021 and 30 percent forecasting stable values, such values were expected to rise again during the third quarter of this year.

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