AgLetter reports farmland values in the Seventh Federal Reserve District were down 1 percent in the second quarter of 2019 from a year earlier. Values for “good” agricultural land in the District were unchanged from the first quarter to the second quarter of 2019, according to a survey of 157 bankers.
In the second quarter of 2019, agricultural credit conditions for the District were weaker compared with a year ago. Repayment rates for non-real-estate farm loans were lower in the second quarter of 2019 than a year earlier. Agricultural credit conditions in the second quarter of 2019 deteriorated relative to a year earlier.
Please see the attached PDF for a full copy of the August Chicago Fed AgLetter.
Watch senior business economist David Oppedahl's 2 minute video summary of this quarter's AgLetter.