US Midwest farmland prices soften in third quarter-Chicago Fed
CHICAGO Nov 14 (Reuters) - Farmland prices in the heart of the U.S. Corn Belt softened in the July-September quarter from the prior three months and overall values in the top corn producing state of Iowa eased 1 percent, tracking grain prices lower, according to a quarterly survey of agricultural bankers issued on Thursday by the Federal Reserve Bank of Chicago.
For the district overall - which stretches across Iowa and northern Illinois and Indiana as well as Wisconsin and Michigan - farmland prices were up 1 percent from the previous quarter and up 14 percent year-on-year, the Chicago Fed said.
"While District farmland values increased on the whole in the third quarter of 2013, this upward trend was not expected to continue: The respondents' expectations leaned toward a decrease in farmland values in the fourth quarter of 2013, as only 4 percent anticipated an increase and 21 percent forecasted a decrease and 75 percent foresaw stable farmland values," Fed said.
- Malaysia Airlines plane missing, presumed crashed in South China Sea |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- No signal picked up from missing Malaysia Airlines plane-Vietnam official