Farmland values across the central Corn Belt edged up 1% percent in the second quarter of 2018 from a year earlier, according to the most recent survey of ag bankers by the Federal Reserve Bank of Chicago. In addition, the survey found the value for “good” agricultural land in the bank's district increased 2% from the first quarter to the second quarter of 2018. "Overall, district farmland values were steady in the first half of 2018 even amid ongoing trade disputes," notes" the bank's David Oppedahl who conducts the quarterly survey.
About three-fourths of survey respondents expected district agricultural land values to be unchanged during the third quarter of 2018 (only 2% expected them to increase, while 22% expected them to decrease). "Thus, the near-term outlook for district farmland values appeared to be stable," he states.