AgLetter: February 2004
The 2003 annual increase of 7 percent in the value of “good”
agricultural land for the Seventh Federal Reserve District
matched the rise of last year, the biggest increase since
1997. Based on a survey of 284 agricultural bankers as of
January 1, 2004, the quarterly gain in farmland values for
the District was once again 2 percent, on average. Over
half the bankers expected farmland values to increase
over the next three months and very few expected farmland
values to fall.