AgLetter: November 2005
Despite continued increases in the value of "good" agricultural land for the Seventh Federal Reserve District, agricultural bankers painted a gloomier picture of credit conditions. The survey results for 262 agricultural bankers as of October 1, 2005, showed a quarterly gain in farmland values of 3 percent for the District. The 11 percent rise in farmland values for the twelve months ending September 30 remained close to the highest of the last 25 years. A third of the responding bankers expected land values to increase in the fourth quarter of 2005.