Farmland values across the Central Corn Belt were unchanged in the second quarter of 2026 compared with a year earlier, marking the slowest annual growth since late 2024, according to a Federal Reserve Bank of Chicago survey of agricultural lenders.
The survey found no quarter-to-quarter change in the value of “good” farmland across Illinois, Indiana and Iowa, although Illinois and Iowa posted annual gains while Indiana and Wisconsin declined. Adjusted for inflation, district farmland values fell 3.7% year over year, the largest real decline since 2016.
Most lenders expect values to remain stable in the third quarter, with 81% forecasting no change and 43% describing farmland as overvalued. Lenders said investment demand from data centers and renewable energy projects has helped support land prices.
Meanwhile, agricultural credit conditions weakened, with repayment problems increasing and loan demand reaching unusually high levels.
NAFB news service
Comments