AgLetter: February 2005
An unusual array of agricultural events in 2004 culminated in the largest annual increase, 12 percent, in the value of “good” agricultural land for the Seventh Federal Reserve District during the last 15 years. The quarterly gain in farmland values for the District was 3 percent in the fourth quarter of 2004, according to surveys returned by 278 agricultural bankers. As of January 1, 2005, half the respondents expected farmland values to continue rising over the next three months and half expected them to remain stable.
