(11/19/13) Wisconsin kept up with the rest of the Midwest, as the values of most good-quality farmland increased between July-and-September.
However, the upward trend is not expected to continue. Twenty-one percent of bankers surveyed by the Federal Reserve Bank of Chicago expect farmland values to drop in the final quarter of the year. The other 75-percent expect those prices to hold steady. For now, however, Wisconsin's looking good. The Federal Reserve Bank said the values of good agricultural land jumped by five-percent in the last quarter in both Wisconsin and Michigan. Indiana had a two-percent increase, and Illinois one-percent. Iowa reported one-percent drop during the third quarter of the year. For the 12 months ending October first, Wisconsin had the region's fourth largest increase in values for good farmland, at 14-percent. Indiana had the biggest annual jump at 17-percent followed by Michigan, Illinois, Wisconsin, and Iowa. Bankers also reported better agricultural credit conditions for both the last year and the last year.