AgLetter: August 2002
Last Updated: 08/07/02
The July survey of agricultural banks in the Seventh District, conducted by the Chicago Fed, indicated that average farmland values increased just over 1 percent from the end of March 2002 to the end of June. Data provided by more than 340 bankers showed that the year-over-year increase in the value of “good” farmland was close to 6 percent, on average. As is typical, the District average obscured substantial differences in the reported changes in farmland values across the five states of the District (see map and table below).