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June 18, 2007

Ten Percent Annual Gain in Farmland Values 
According to the most recent AgLetter, the year-over-year change in Seventh District farmland values edged up to ten percent in the first quarter of 2007, and cash rental rates for farmland surged upward. The quarterly increase in the value of "good" agricultural land was five percent for the Seventh District.

Federal Reserve Board Releases Latest Beige Book 
In the latest Beige Book, the Federal Reserve Districts reported that economic activity continued to expand from mid-April through May. Details, including individual Reserve Bank summaries, are available in the full report.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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