AgLetter: November 2006
Last Updated: 11/29/06
Third quarter farmland values were unchanged from those of the second quarter of 2006, and the year-over-year increase slowed to 7 percent for “good” agricultural land in the Seventh Federal Reserve District. The survey results, based on the responses of 241 agricultural bankers as of October 1, 2006, provided evidence of cooling after two years of double-digit gains in farmland values. About a quarter of the respondents expected land values to increase in the fourth quarter of 2006 (71 percent forecasted stable values).