A report by the Federal Reserve Bank of Chicago says farmland values continued to increase during the first quarter of the year.
Policy advisor David Oppedahl says the rate of growth has slowed. “Farmland values for our district grew from a year ago by just 4%, which was the lowest in 16 quarters,” he said. “We’re seeing things kind of slowing but still not declining.”
The report said values for ‘good’ agricultural land in the first quarter of 2024 were 2% higher than in the fourth quarter of 2023.
