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Federal Reserve’s 7th District Shows Flattening Farmland Values as Credit Pressures Rise

accountJennifer Moran | calendar-monthSeptember 14, 2026

Farmland values across the Federal Reserve’s 7th District held steady in the second quarter of 2024, marking the slowest growth since late 2024, according to Farm Progress reporting based on a survey of 79 agricultural lenders . The district covers several of Land Sales Bulletin’s Midwest reporting states, including Iowa, northern Illinois, Indiana, southern Wisconsin, and Michigan’s lower peninsula .

Highlights

  • Iowa led the region with a 4% annual gain in farmland values .
  • Illinois posted a modest 1% increase, while Indiana values declined 3% and Wisconsin fell 2% .
  • When adjusted for inflation, district farmland values declined 3.71% year over year, the largest real drop since Q3 2016 .
  • Non‑ag buyers, including solar and data center developers, continue influencing land markets across the Midwest states .
  • Credit concerns are mounting, with major or severe repayment problems rising to 3.7% of district farm loans, the highest level since 2020 .
  • Not a single lender reported improved repayment rates compared to last year, and 27% indicated repayment rates are declining .

Farmland values may be flattening, but credit pressures are building across the Midwest. For LSB’s reporting states, the combination of stable nominal values and rising financial stress underscores the importance of monitoring both land markets and lending conditions heading into 2027.

Listen or Read more from Farm Progress: https://www.farmprogress.com/farm-business/farmland-values-flatten-as-credit-concerns-mount

Federal Reserve’s 7th District Map

U.S. Farmers Highlight Long-Term Value and Family Ties in Farmland Ownership

accountJennifer Moran | calendar-monthSeptember 11, 2026

New analysis from farmdocDaily examines why U.S. farmers own farmland and how they view future land values, drawing on results from the August 2026 Purdue University-CME Group Ag Economy Barometer survey. Responses from approximately 400 producers underscore the unique role farmland plays across the Midwest and beyond.

Report Highlights:

  • Family or sentimental reasons were the top motivation for owning farmland, cited by 45 percent of respondents
  • Long-term investment ranked second at 32 percent, followed by current income at 22 percent
  • Two-thirds of producers indicated farmland is a good investment
  • Producers were more optimistic about farmland values five years out than over the next 12 months
  • Alternative investments and interest rates were identified as the most influential factors affecting farmland values

The full farmdocDaily report is available for download.
Authors: Michael Langemeier and Joana Colussi
Report Link: why-u-s-farmers-own-farmland-and-what-they-expect-for-land-values.html

Why U.S Farmers Own Farmland and What They Expect for Land Values

Minnesota Farmland Sales Reflect Firming Market Conditions

accountJennifer Moran | calendar-monthSeptember 3, 2026

Land Sales Bulletin’s Midwest reporting state of Minnesota continues to monitor market sentiment as recent Farm Progress coverage highlights tightening yield expectations and stronger commodity price momentum. These recent sales results continue to show buyer preference for flat, open tracts with strong CPI profiles across Minnesota.

Summary Points

  • August WASDE reduced corn and soybean yield expectations, tightening supply forecasts
  • Pro Farmer’s Midwest crop tour reported lower than expected yields across much of the region
  • December corn near $5 and November soybeans around $12.40 have supported buyer confidence
  • Minnesota’s crop outlook appears exceptional, contributing to cautious optimism among farmers and buyers
  • Flat, open tracts continue to command premium pricing across Minnesota counties

Recent sales across Blue Earth, Chippewa, Cottonwood, Faribault, Kanabec, Le Sueur, Nobles, Sibley, Stevens and Swift counties reaffirm long‑standing buyer preferences for flat, open land with strong CPI ratings. These results align with themes commonly seen in Land Sales Bulletin’s Midwest reporting state of Minnesota, where slope, shape and drainage remain central to value alongside soil quality.

Author: Jared Augustine, Hertz Farm Management
Farm Progress Report: recent-farmland-sales-reaffirm-buyer-preferences

Minnesota land sales - Farm Progress

Illinois Farm Real Estate Values Rise for the Sixth Consecutive Year

accountJennifer Moran | calendar-monthAugust 25, 2026

Illinois farm real estate values continued their upward trend in 2026, marking the sixth straight year of gains. According to the latest USDA NASS Land Values Summary, Illinois reached an average of $9,250 per acre in 2026, a 3.6 percent increase over 2025. This steady growth aligns with broader Corn Belt movement, where LSB;s Midwest and neighboring states also posted moderate increases.

Midwest State Highlights

  • Illinois: $9,250 per acre in 2026, up 3.6 percent from 2025; sixth consecutive annual increase
  • Iowa: 3.2 percent increase; highest regional value at $10,100 per acre
  • Indiana: 3.4 percent increase
  • Missouri: 4.0 percent increase
  • Ohio: 3.2 percent increase; second highest value at $9,650 per acre

Illinois previously held the top position in 2021, but stronger gains in Iowa and Ohio over the last five years have shifted regional rankings.

Full Report from: farmdoc daily, University of Illinois: https://farmdocdaily.illinois.edu/2026/08/illinois-farm-real-estate-values-increase-six-years-in-a-row.html

Inflation-Adjusted Midwest Farmland Values See Steepest Drop Since 2016

accountJennifer Moran | calendar-monthAugust 19, 2026

Midwest farmland values in our Midwest reporting states, showed their sharpest inflation-adjusted decline in a decade, according to the latest Chicago Fed AgLetter published by the Federal Reserve Bank of Chicago. While nominal values for good farmland held steady year-over-year, real values fell 3.7 percent — the largest drop since 2016 . Lenders across the region also reported weakening credit conditions and rising repayment challenges.

Midwest State Highlights (LSB Reporting States):

  • Illinois: Year-over-year farmland values increased, supported partly by outside investment activity including solar and data centers.
  • Indiana: Farmland values decreased year-over-year as credit conditions weakened and repayment issues rose.
  • Iowa: Values increased year-over-year, though lenders noted commodity price volatility and elevated production expenses weighing on conditions.
  • Wisconsin: Values decreased year-over-year, with lenders noting outside pressure from solar and data center demand may eventually plateau.

Only 5 percent of lenders expect farmland values to rise in the next quarter, while 81 percent anticipate stability and 14 percent expect declines.

Publisher: Farm Policy News

Report link: https://www.chicagofed.org/publications/agletter/2025-2029/august-2026

Second Quarter Farmland Values Hold Steady Across the Midwest

accountJennifer Moran | calendar-monthAugust 14, 2026

Midwest farmland values were unchanged in the second quarter of 2026 according to AgLetter, No. 2013, August 2026 from the Federal Reserve Bank of Chicago. While overall District values were flat year over year, the report shows a mixed picture across Land Sales Bulletin’s core Midwest reporting states.

Key summary points

  • Illinois farmland values posted year-over-year gains.
  • Iowa also recorded increases, supported in part by investment activity tied to data centers and renewable energy projects.
  • Indiana farmland values declined compared with last year.
  • Wisconsin saw year-over-year decreases and lenders noted expectations that values may plateau as outside pressures ease

Credit conditions across the District weakened, with repayment challenges rising to their highest level since 2020. Lenders also reported lower repayment rates and higher renewals and extensions on non-real-estate farm loans.

Read the full report from the Federal Reserve Bank of Chicago: https://www.chicagofed.org/publications/agletter/2025-2029/august-2026

Minnesota Farmland Market Shows Steady Strength as 2026 Sales Add New Clarity

accountJennifer Moran | calendar-monthJuly 29, 2026

The latest Farm Progress report reinforces what Land Sales Bulletin continues to see across Minnesota: even after two years of breakeven agriculture, farmland values remain steady and supported by excellent crop ratings, timely rains, and long‑term buyer confidence. Timely rains are helping farmers “out‑bushel” lower commodity prices and maintain yield potential.

While commodity prices have softened, the Farm Progress analysis points to multiple factors keeping land values firm: low sale volume, neighborhood competitive dynamics, government support, legacy equity, new investment money, 1031 exchange activity, interest rates, and inflation hedging . As Farm Progress notes, short‑term market weakness has not overtaken long‑term thinking in farmland decisions.

Key Minnesota takeaways:

  • Strong crop outlook with USDA rating corn 67% excellent and soybeans 65% excellent
  • Timely rains strengthening yield potential
  • Seller‑friendly conditions for A‑quality land despite breakeven economics
  • Multiple market forces supporting values beyond commodity prices
  • Competitive sales across Minnesota counties:
    • Blue Earth County: ~90 acres at $12,389 per acre, CPI 81.7
    • Faribault County: ~40 acres at $12,000 per acre, CPI 91.9
    • Le Sueur County: ~144.38 acres at $12,851 per acre, CPI 90.2
    • Murray County: ~160 acres at $10,100 per acre, CPI 92.8
    • Nobles County: ~160 acres at $12,500 per acre, CPI 93.3
    • Polk County: ~80 acres at $10,000 per acre, CPI 91.1
    • Sibley County: ~120 acres at $11,000 per acre, CPI 91.8
    • Traverse County: ~141.21 acres at $8,500 per acre, CPI 93.7

As fall approaches, these finalized sales will provide additional data points that help define Minnesota’s market direction and reinforce the long‑term stability that continues to characterize the region. Read more from Farm Progress: Farmland market affected by much more than just commodity prices

Minnesota land sales - Farm Progress

Landwatch Weekly: Recent Midwest Farmland Sales Across Iowa, Indiana & South Dakota

accountJennifer Moran | calendar-monthJuly 24, 2026

Progressive Farmer’s Landwatch Weekly column continues to show steady strength across Land Sales Bulletin’s Midwest reporting region. This week’s updates highlight positive momentum in Iowa, Indiana, and South Dakota, with strong per‑acre values and diversified land use driving buyer interest.

Midwest Highlights

  • Indiana – Wells County A 79‑acre farm sold for $24,050 per acre, supported by 52 acres of tillable ground and two residential homes.
  • Iowa – Allamakee County A 258‑acre multi‑tract sale averaged $16,750 per acre, with one premium tract reaching $27,400 per acre. Buyers were drawn to a mix of timber, tillable acres, recreational land, and Mississippi River views.
  • South Dakota – Brookings County A 40‑acre farm sold for $14,125 per acre, featuring strong cropland SPI (81.9), livestock paddocks, a residence, and a heated shop — a well‑rounded operational property.

These finalized sales reinforce continued confidence in high‑quality cropland, diversified land assets, and properties with strong residential or operational improvements across the Midwest.

Source: Progressive Farmer — Landwatch Weekly
Article Link: https://www.dtnpf.com/agriculture/web/ag/news/business-inputs/article/2026/07/23/recent-farmland-sales-indiana-iowa

Midyear 2026 Farmland Values: Resilience Across Land Sales Bulletin’s Midwest Reporting States

accountJennifer Moran | calendar-monthJuly 22, 2026

Benchmark farmland values across Iowa, Nebraska, South Dakota, and Wyoming remain flat to slightly higher in mid‑2026, according to Farm Credit Services of America’s July Benchmark Farmland Report. Values are supported by strong buyer financials and an already tight real estate market that saw even fewer sales in the first half of the year.

Iowa cropland dipped modestly, leaving overall benchmark values flat. Nebraska, South Dakota, and Wyoming posted incremental gains across both cropland and pasture since January.

The report also highlights broader trends across grain and protein‑producing states served by collaborating Farm Credit associations, reinforcing long‑term appreciation and durable demand across the Midwest.

Iowa*

  • 6‑month change: 0.0% | 1‑year change: ‑1.4%
  • 5‑year change: 31.6% | 10‑year change: 51.1%

Nebraska*

  • 6‑month change: +1.2% | 1‑year change: +3.2%
  • 5‑year change: 42.9% | 10‑year change: 39.2%

South Dakota*

  • 6‑month change: +4.2% | 1‑year change: +6.4%
  • 5‑year change: 71.6% | 10‑year change: 61.8%

Wyoming

  • 6‑month change: +2.7% | 1‑year change: +6.0%
  • 5‑year change: 55.4% | 10‑year change: 99.6%

Market Context

  • Tight real estate supply and financially strong buyers continue to support values region‑wide
  • Benchmark values across all four states show significant long‑term appreciation, with ten‑year gains averaging nearly 100%

*Land Sales Bulletin’s Midwest Reporting States

Full Report: Farmland Values 2026: Trends in Iowa, Nebraska, South Dakota and Wyoming | FCSAmerica

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