Farmland values continued strong growth in 2022 in the Seventh Federal Reserve District that includes Illinois, Iowa, Indiana, Michigan, and Wisconsin, an economist wrote.
Farmland values continued strong growth in 2022 in the Seventh Federal Reserve District that includes Illinois, Iowa, Indiana, Michigan, and Wisconsin, according to the Agricultural Newsletter authored by economist David Oppedahl of the Federal Reserve Bank of Chicago.
For 2022, Oppedahl said Illinois farmland values increased by 14%, while Iowa and Wisconsin both saw an increase of 11%. Indiana farmland values increased the most over the year, 23%. Michigan’s values were not calculated because of an insufficient response to Oppedahl’s survey. Those prices were stronger than in 2021 when corn was selling at an average $4.24 per bushel in January, rose to a high of $6.32 per bushel in August and then ended in December at $5.47 per bushel.
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