The Land Report

Spring 2015

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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S P R I N G 2 0 1 5 | The LandReport 29 LANDREPORT.COM October 1, 2014 January 1, 2014 to to January 1, 2015 January 1, 2015 Illinois +1 -3 Indiana -3 -2 Iowa -1 -7 Michigan -1 0 Wisconsin +2 +2 SEVENTH 0 -3 DISTRICT Percent change in dollar value of "good" farmland N ATIONAL – T REND In 2014, American farmers beat their best. U.S. corn production jumped 2.8 percent over 2013 to an all-time record 14.2 billion bushels. Soybean production skyrocketed 18 percent to a record high of 3.97 billion bushels. Thanks to these bumper crops, downward pressure was placed on crop (and feed) prices. At the end of 2014, corn prices were 14 percent lower than the year before and 45 percent lower than two years before. The same trend applied to soybean prices, which, on average, were 21 percent lower than December 2013 and 28 percent lower than December 2012. MIDWEST – FOCUS According to the Chicago Fed, the Seventh District's annual decrease of 3 percent in "good" farmland values for 2014 was the first loss since 1986. When adjusted for inflation, the District's annual decrease was the first since 1992; the streak of increases in real terms reached 21 years before being broken. For a complete copy of the Seventh Federal Reserve District's AgLetter, go to www.ChicagoFed.org .

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