Midwest Farmland Values Robust in Q3 2022

Farmland values in the Corn Belt continued to climb in the third quarter of 2022, increasing 20 percent year over year. Credit conditions also improved despite the steep jump in interest rates. Five states in the Seventh District brought in near-record soybean and corn yields. USDA price index for livestock and animal products was up 23 percent in September, and revenues on corn and soybean harvests are projected to surpass records set in 2021. Credit conditions showed improvement in Q3 with repayment rates higher than last year’s rates. Looking forward, 68 percent of survey participants anticipate Q4 figures to stay the same. Read more HERE.