AgLetter: November 2009
The agricultural sector continued to deal with challenging
circumstances in the third quarter of 2009, as evidenced by
agricultural land values falling 4 percent below those of
the third quarter of 2008 in the Seventh Federal Reserve
District. However, the value of “good” farmland increased
2 percent relative to the second quarter of 2009, according
to 225 replies by agricultural bankers to the October 1
survey. Forecasts for farmland values in the fourth quarter
of 2009 were down, with respondents expecting lower
demand to purchase farmland by both farmers and nonfarm
investors.
