AgLetter: February 2004
Last Updated: 02/04/04
The 2003 annual increase of 7 percent in the value of “good” agricultural land for the Seventh Federal Reserve District matched the rise of last year, the biggest increase since 1997. Based on a survey of 284 agricultural bankers as of January 1, 2004, the quarterly gain in farmland values for the District was once again 2 percent, on average. Over half the bankers expected farmland values to increase over the next three months and very few expected farmland values to fall.