Chicago Fed

Surge in farmland values slows to 5 percent in Midwest

Agricultural land values in the Midwest rose by an average of 5 percent during the past year, the smallest gain in three years, said ag bankers taking part in a Chicago Federal Reserve Bank survey. While Indiana notched a 16 percent increase, land values in Iowa were stagnant and one lender expressed surprise that land values did not decline in the Hawkeye State, said the Chicago Fed's quarterly AgLetter.

Biggest rise in Midwest land values in over a decade

Agricultural bankers reported a 22 percent increase in farmland values in the central Corn Belt during 2021, and they expect values to continue to rise in the opening months of this year, said the Chicago Federal Reserve Bank on Thursday.

Strongest farm outlook in years, say ag bankers

Farm income and land values surged in the closing months of 2020, lifted by higher commodity prices and large federal payments, according to farm lenders across the Midwest and Plains. With the commodity rally expected to persist, the farm economy was in its best shape in years, said the …

Trump tariff payments bolster farmer income

Although ag bankers in the Midwest and Plains say the administration's multibillion-dollar trade war payments were a boon to farmers and ranchers, some lenders are still concerned about underlying weaknesses in the sector.

Farmland values stabilize in Midwest, sink in western Plains

For the first time since the summer of 2015, farmland values in the Midwest are holding steady, says the Chicago Federal Reserve Bank. In a quarterly survey, agricultural bankers told the regional Fed that they expect land values to remain stable through spring.

Fed banks report weak farm credit conditions

Agricultural credit conditions throughout the Tenth Federal Reserve District of western Missouri, Nebraska, Kansas, Oklahoma, Wyoming, Colorado and northern New Mexico continued to deteriorate in the second quarter of 2016, the Federal Reserve Bank of Kansas City reported, and bankers "expect farm income to remain weak in the third quarter."

In downward cycle, Ag’s impact felt on Main Street

Main Street businesses in the Plains are feeling the pinch of lower commodity prices while producers throughout the Farm Belt are watching their pennies, said quarterly reports from three regional Federal Reserve banks.

Farming important but small share of Midwest economy

Even with the boom years of 2003-14, agriculture's share of the Midwestern economy is shrinking, to 1 percent or so, said a paper from the Chicago Federal Reserve Bank.

Biggest drop in Iowa farmland value since 1986, down 9%

Iowa farmland values fell by 9 percent this year, the largest decline since 1986 during the agricultural recession, pulled down by falling commodity prices, said an Iowa State University survey.

Farm income “has fallen short of previous years”

Crop farmers are seeing much lower incomes this year, down by an average 25 percent in the Plains, according to agricultural bankers in the Farm Belt.

Ranchland value rising, cropland is steady or declining

Cropland values are steady or starting to erode while ranch and pasture land is rising in value, say agricultural bankers in the Midwest and central Plains.

Main Street begins to feel the pinch of lower farm income

Farmers and ranchers are tightening their purse strings and spending less in town, say farm bankers across the Farm Belt. With farm income down due to sharply lower commodity prices, cutbacks are expected to continue into the fall at a minimum.