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AgLetter, No. 1924, May 2004
AgLetter: May 2004
Persistently strong nonfarm demand and historically low interest rates, along with a relatively small expansion in the amount of available farmland for sale, led to a 12 percent increase in the value of “good” agricultural land over the past year in the Seventh Federal Reserve District. In addition, higher prices in the first quarter of 2004 for corn, soybeans, milk, and pork contributed to the most favorable market conditions in recent years for the District agricultural sector.
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