Central Corn Belt farmland values continue to surpass expectations. According to a quarterly survey of more than 200 agricultural bankers conducted by the Federal Reserve Bank of Chicago, the yearly increase in "good" farmland values was 16% in 2012. "In spite of the drought last year, the annual increase for 2012 was just a notch below those of 2007 and 2011," says David Oppedahl, a business economist at the bank. "On the whole, respondents anticipated farmland values to rise further during the January through March period of 2013."
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