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Farmland values in the Midwest decreased by just 1 percent in 2016, thanks to record-setting production numbers. At 15.1 billion bushels, US corn production in 2016 jumped 11 percent over 2015 to set a new record. Soybeans enjoyed a similar uptick to 4.3 billion bushels, a gain of nearly 10 percent over 2015. According to the Seventh Federal Reserve District’s AgLetter, these plentiful supplies put a downward pressure on prices. But lower prices also stoked export demand. In fact, soybeans exports reached an all-time high.
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