The Seventh Federal Reserve District reported a 1% drop in agricultural land values in 2016. This follows decreases of 3% in both 2015 and 2014. Senior Business Economist David Oppedahl noted the following:
– The decrease in the agricultural land values from their peak in 2013 through the end of 2016 was 9.5% in real terms.
– The current multi-year downturn has been much more moderate than the previous such stretch during the 1980s.
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