AgLetter: August 2000
A survey of more than 330 agricultural bankers in the five
Seventh District states indicated that gains in farmland values
slowed in the most recent quarter from those reported
for the previous two quarters. An increase of less than 1%
in the second quarter (April 1-July 1), compared with a
2% gain in the first quarter, represented the lowest rate of
increase since the third quarter of 1999. On a year-over-year
basis, farmland values were reported up 5% from the July
1,1999, survey. This was the largest year-to-year increase
since an 8% gain reported in the second quarter of 1998.