AgLetter: August 2007
In the Seventh Federal Reserve District, farmland values for the second quarter of 2007 increased 11 percent relative to the second quarter of 2006, and agricultural credit conditions continued to improve. A survey of 263 agricultural bankers from April 1, 2007, to June 30, 2007, indicated that the value of "good" agricultural land in the District was up 2 percent for the quarter. Forty percent more of the responding bankers expected farmland values to move up rather than down in the third quarter.
