CHICAGO Feb 14 Farmland prices in the U.S.
Midwest Corn Belt states in the fourth quarter of 2012 rose 16
percent from a year earlier, as demand for farmland remained
strong despite the worst drought in 50 years, the Federal
Reserve Bank of Chicago said on Thursday.
The Chicago Fed's quarterly survey of bankers showed prices
of good farmland in the October-December period notched the
third largest increase since the late 1970s. Farmland values
gained an average 7 percent from the prior quarter, according to
the survey of 212 agricultural bankers.
In 2012, an index of inflation-adjusted farm land values
once again established a record for the District, as it has
every year since 2007, the bank said.