AgLetter

After run-up, farmland prices may become more stable

Higher interest rates and weaker commodity prices may slow the momentum for ever-higher farmland values, said the Chicago and Kansas City Federal Reserve banks in quarterly reports on Thursday. "After this unusual period of large farmland gains, it wouldn't be too surprising if we were back to that general stable [land value] scenario for a while," said David Oppedahl, policy adviser at the Chicago Fed.