Compared to U.S. and eastern Corn Belt values, Northeast states are farmland islands unto themselves — steady to slightly higher.
According to the latest USDA survey for 2017, U.S. farm real estate values, are holding — even inching 2.3% higher from 2016 values — except for states dominated by dairy. Those values reflect all land and buildings on farms.
Eastern Corn Belt (Illinois, Indiana, Ohio and Michigan) ag land values have seen only a slight decline, according to the numbers tracked by Farmers National Co. “Prices overall have surprisingly remained steady, leveling off compared to the downward trending from the fall of 2015,” notes Roger Hayworth, regional sales manager for Farmers National Co. “Higher-quality land has been unchanged with a slight dip for mid- to lower-quality farmland.”
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