Rising Farmland Values: Causes and Cautions

On November 15, 2011, the Federal Reserve Bank of Chicago held a conference to explore the factors contributing to large increases in agricultural land values and cash rental rates in the Midwest. Farmland values increased 16 percent from a year ago in the first quarter of 2011; 2011 cash rents for farmland increased 16 percent as well. At the conference, experts from academia, industry and policy institutions will present research on the causes of rapid increases in agricultural land values and cash rents, as well as their interrelationship. The goals of the conference include analyzing demographic and geographical characteristics of Midwest farmland ownership; understanding the dynamics of farmland valuations; assessing the risks facing agriculture and the banking industry from rising farmland values; and discussing policy implications for agricultural lending stemming from current farmland trends. Check back in the near future for additional details.


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Mark Pearson
Host, Market to Market

Mark Pearson will take you on an entertaining journey – a look ahead at the outlook for farmland values. He'll explain where we are headed, and how commodity prices, global trends, consumer trends and other factors are contributing to the changes in land values.


Farmer, small businessman, stockbroker and raconteur, long-time Market To Market host Pearson has earned a national reputation for his agribusiness and rural issues acumen. A former Assistant Secretary of Agriculture for the State of Iowa, Pearson's long career in the media culminated with his being named host of Market To Market in 1991. Since then, Pearson has kept viewers informed as host of more than 600 editions of the "Weekly Journal of Rural America."


A retired officer in the Naval Reserve, Pearson lives on a farm in central Iowa, where he raises grain and livestock.


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11/15/11
8:00 AM
Registration and Continental Breakfast
9:00 AM
Welcome and Opening Remarks
David B Oppedahl, Business Economist, Federal Reserve Bank of Chicago
Presentation
9:30 AM
Session I: Midwest Farmland Geography and Demography
Jennifer Ifft, Agricultural Economist, U.S. Department of Agriculture
Presentation
Mike Duffy, Professor of Economics and Director of the Beginning Farmer Center, Iowa State University
Presentation
10:30 AM
Break
10:45 AM
Session II: Perspectives on Agricultural Land Value Trends
Brent Gloy, Associate Professor, Purdue University
Presentation
Perry Vieth, President, Ceres Partners
Presentation
12:00 PM
Lunch and Keynote: What’s Ahead for Agricultural Land Values?
Introduction
Daniel G Sullivan, Executive Vice President and Director of Research, Federal Reserve Bank of Chicago
Speaker
Mark Pearson, Host, Market to Market
Presentation
1:15 PM
Session III: Risks Facing Farmland Markets
Bruce J Sherrick, Professor, University of Illinois at Urbana-Champaign
Presentation
Jaclyn Kropp, Assistant Professor, Clemson University
Presentation
2:15 PM
Break
2:30 PM
Session IV: Panel Discussion on the Implications of Current Farmland Trends for Agricultural Lending
Moderator
Mark Pearson, Host, Market to Market
Panelists
Leland A Strom, Chairman and Chief Executive Officer, Farm Credit Administration
Presentation
Jeffrey A Jensen, Assistant Vice President, Supervision and Regulation, Federal Reserve Bank of Chicago
Kim D Greenland, Market President, Great Western Bank
4:00 PM
Adjournment

 

 

 

 

Last Updated: 10/11/2011


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Hotel Information

Club Quarters Hotel
111 W Adams St
Chicago ,  IL   60603

Reservations:  Please call member services at (212) 575-0006 during business hours and identify yourself with the Federal Reserve Bank and use group code FRBNOV.

 

Rate:  $124 + 15.4% hotel occupancy tax for standard room; club size room is also available at $109 + 15.4% hotel occupancy tax.


Cut-off date:  October 7, 2011  Please reserve your room in a timely matter to ensure availability. Reservations made after the cut-off date will be subject to availability.

 

Club Quarters, Central Loop is located at the corner of Adams and Clark Streets beside the famous Rookery Building and in the center of the Central Loop, just minutes from Michigan Avenue. It is just one and 1/2 blocks from the Chicago Fed and a short walk to the Symphony Center, the Art Institute, Board of Trade, the Willis Tower, the River Front and Grant Park. It boasts the popular Elephant & Castle Pub and Restaurant, serving a combination of British classics and North American favorites coupled with a list of over 100 beers and an extensive list of Scotch whiskeys. Each floor features complimentary chilled bottled water to go.  For other amenities, please visit their website.


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Background Information and Conference Materials

Links to related publications and conferences on this website.


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