AgLetter: August 2009
Farmland values for the second quarter of 2009 were 3 percent lower than a year ago in the Seventh Federal Reserve District. However, there was no change in the value of “good” agricultural land in the second quarter compared with the first quarter of 2009, according to a survey of 219 agricultural bankers covering the period from April 1, 2009, through June 30, 2009. Almost 30 percent of the responding bankers expected farmland values to fall in the third quarter of 2009, whereas 71 percent expected stable farmland values.
