AgLetter: February 1998
District farmland values registered a large gain again last year, according to the responses of over 350 agricultural banks recently surveyed by the Federal Reserve Bank of Chicago. The bankers indicated that the value of good farmland, on average, rose more than 2 percent during the final three months of 1997. The rise for all of 1997 was nearly 10 percent, duplicating the strong gain of the year before. Adjusted for the moderating inflationary pressures, last year’s rise translated into the steepest real increase in farmland values in almost twenty years.