Corn Belt Ag Values Edge Slightly Higher in 2017
The Chicago Fed reports that a three-year slide in farmland values in the Seventh Federal Reserve District has come to an end. According to senior business economist David Oppedahl, an annual increase of 1 percent in nominal terms was recorded for 2017. After adjusting for inflation, however, the Seventh District actually experienced an annual decrease of 1 percent in farmland values last year. Although the real decline was the fourth in a row for district farmland values, it still has several years to go before it equals the rough patch in the 1980s when seven consecutive years of real declines were registered.
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