Wednesday, August 17, 2011

Second Quarter 2011 Federal Reserve Bank of Chicago Farmland Price Report

source: Federal Reserve Bank of Chicago

Key points from this report were:

  • Farmland values for the second quarter of 2011 climbed 17 percent from the level of a year ago in the Seventh Federal Reserve District. This was the largest recorded since the 1970s.
  • Agricultural land values in Indiana and Iowa climbed 20 percent or more in a year, and agricultural land values in Illinois climbed almost as much.
  • Bankers in the survey commented that there were more summer auctions of farmland than usual, particularly as demand for farmland remained strong from both farmers and investors.
  • Volumes for farm machinery and grain storage construction loans were forecasted to rise during the third quarter of 2011 from a year ago.
KM: This was an amazingly strong report with no negative numbers anywhere. To read the whole report go here.