CHICAGO — In the first quarter of 2025, the Seventh Federal Reserve District’s agricultural land values saw a 1% increase from a year ago, and “good” farmland values rose 4% from the fourth quarter of 2024 on average across five states.

The findings are based on survey respondents from 141 agricultural banks in the district that includes the northern two-thirds of Illinois and Indiana, all of Iowa, the southern two-thirds of Wisconsin, and Michigan’s Lower Peninsula.

Farmland value in Illinois’ portion of the district rose 5% in the first quarter of 2025 and was unchanged year-over-year.

Indiana’s farmland value in the district increased 1% in the first quarter of this year and was down 6% from a year ago.

The survey found Iowa’s farmland value increased 4% since Jan. 1 and was unchang

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