The Chicago Fed says farmland values showed the highest year over year gain in eight years for the second quarter, up 14 percent.
Values for all states reporting in the district, including Illinois, Indiana, Iowa, and Wisconsin were up double digits for the quarter, with Iowa topping out at an 18 percent increase.
Senior business economist David Oppedahl says seventy percent of bankers in the regular survey expect high farmland values to continue into the third quarter.
