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Farmland Values Dipped 4% In 3rd Quarter Farmland Values Dipped 4% In 3rd Quarter Originally appeared on "nasdaq.com" By Ian Berry 19 Nov, 2009 CHICAGO -(Dow Jones)- Farmland values dropped 4% in the heart of the Midwest in the third quarter compared to a year ago, the Federal Reserve Bank of Chicago said Thursday. Agricultural credit conditions were also weaker than a year ago, and agricultural bankers are expecting weaker farmland prices during the fourth quarter as well. The report covers the Seventh Federal Reserve District, which includes all of Iowa and most of Illinois, Wisconsin, Indiana and Michigan. It was the third straight quarter that farmland values dropped from the prior year. However, values in the third quarter were up 2% from the second quarter, and agricultural credit conditions were about the same as they were in the second quarter. Demand for farmland is expected to ebb during the fall and winter, the report said. "A key factor in the anticipation of lower demand for farmland was the diminished stream of earnings that farms would produce under current market conditions," the report said. The report said repayment on non-real-estate farm loans were lower in the third quarter than during the same time a year ago, with just 10% of bankers reporting higher rates of loan repayment and 21% reporting lower rates.
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Buying and selling of agricultural land can be very complex. To help you tackle the issues surrounding agricultural land transactions, Farms.com Real Estate has compiled a list of experts in the areas of agricultural economics and land values.

University of Illinois

Department of Agricultural and Consumer Economics, Extension Specialist, Farm Management
Gary Schnitkey
schnitke@uiuc.edu

Department of Agricultural and Consumer Economics, Extension Specialist, Farm Management
Dale Lattz
d-lattz@uiuc.edu

Iowa State University

Michael Duffy
mduffy@iastate.edu
http://www.econ.iastate.edu/faculty/duffy/landnew.html

Kansas State University

Kevin Dhuyvetter
Professor and Extension Specialist, Farm Management
kcd@ksu.edu

Terry Kastens
Professor and Extension Specialist, Farm Management
tkastens@agecon.ksu.edu

Michigan State University

Stephen Harsh
Professor and Extension Specialist in Agricultural Economics
harsh@msu.edu

Eric Wittenberg
Outreach Specialist
wittenbe@msu.edu

University of Minnesota

Philip Raup
Professor Emeritus
praup@umn.edu

David Bau
Agricultural Business Management, Agricultural Business Management
bauxx003@umn.edu


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