The 2002 annual increase of 7 percent in the value of “good”
agricultural land for the Seventh Federal Reserve District
was the largest increase since 1997. The quarterly increase
in farmland values remained 2 percent, on average, for the
District, based on a survey of 370 agricultural bankers as
of January 1, 2003. More bankers projected farmland values
to rise over the next three months and fewer expected farmland
values to go down.