News

Chicago Fed reports 3% drop in 2014

A quarterly survey of ag bankers in the Federal Reserve’s Chicago District shows farmland values held generally steady in the fourth quarter of 2014.

For the entire year of 2014, those values were down an average of three percent district-wide. It’s the first loss for a year in the Seventh District since 1986.

The largest annual decline was in Iowa, where land values were off seven percent. Northern Illinois was down three percent for the year and northern Indiana dropped two percent, while Wisconsin increased two percent and Michigan was unchanged.

Link to report