AgLetter: February 2002
Increased farmland values in the Seventh Federal Reserve
District in the fourth quarter of 2001 continued
the pattern observed throughout the year. According
to the Chicago Fed’s end-of-fourth-quarter survey of
Farmland Values and Credit Conditions, prices for
“good” farmland rose, on average, just under 1 percent
between October 1, 2001, and January 1, 2002. The 372
agricultural bankers that responded to the survey also
indicated that the increase in farmland values, relative
to a year ago, slowed to less than a 5 percent rate. This
compares with a year-over-year gain of 6 percent in
the fourth quarter of 2000.
