AgLetter: February 2003
Last Updated: 02/06/03
The 2002 annual increase of 7 percent in the value of “good” agricultural land for the Seventh Federal Reserve District was the largest increase since 1997. The quarterly increase in farmland values remained 2 percent, on average, for the District, based on a survey of 370 agricultural bankers as of January 1, 2003. More bankers projected farmland values to rise over the next three months and fewer expected farmland values to go down.