Report: Iowa farmland values down 7 percent in 2014
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Farmland values in Iowa decreased by 7 percent in 2014, according to the February Agricultural Newsletter released today by the Federal Reserve Bank of Chicago. Overall, the 7th Federal Reserve District – which includes Iowa, Indiana, Illinois, Michigan and Wisconsin – had an annual decrease of 3 percent in “good” farmland values for 2014, marking the first yearly decline since 1986. However, farmland values in the fourth quarter of 2014 remained largely the same as in the third quarter, according to survey respondents from 224 agricultural banks across the district. Lower corn and soybean prices have been primary factors contributing to the drop in farmland values. The impact of falling crop prices has been offset to some extent by buoyant returns for livestock producers throughout 2014.