Midwest Farm Values Rise

According to the Federal Reserves Bank Midwest farmland values rose in the fourth quarter and it’s because crop values have increased.
Irrigated land across Missouri, Nebraska, Kansas, Oklahoma, Wyoming, Colorado and northern New Mexico rose 14.8 percent, and no irrigated land rose 12.9 percent.
The rise in value has been consistent for the last five quarters, bringing optimism to a struggling industry.
Experts believe the rise is to the increase in the value of corn crops. This is due to the demand in Europe and in the United States for biofuel. It is expect the Federal Reserve Banks in Chicago and Minneapolis will announce numbers showing the Corn Belt is rebounding after the recession. Compared to the general economy, the Corn Belt is improving quicker.
Since 2010 corn and wheat crops have doubled in value. Cotton prices are also up 155 percent and soybean crops are worth 50 percent more.
The United States Department of Agriculture expects farm income to rise 19.8 percent by the end of the fiscal year.
For more information contact Farm Plus today at 866-929-5585.