Agricultural land values in Indiana saw some of the biggest year-over-year increases in the Midwest in April, according to the Federal Reserve Bank district in Chicago.
The Chicago Fed says Indiana farmland climbed eight percent compared to April 2020. Only Iowa had a higher annual increase, which was 10%. Wisconsin farmland also had an eight percent increase.
In its quarterly land values report, the fed says the value of good Hoosier farmland climbed four percent from January 1.
The Seventh Federal Reserve District in Chicago covers the northern half of Indiana and Illinois, all of Iowa, and most of Michigan and Wisconsin.
District-wide, agricultural land had an annual gain of seven percent and three percent for the quarter.
The report is based on a survey of 137 agricultural bankers who expect the trend for higher land values to continue.