CHICAGO, Illinois – The Drought of 2012 has slowed but it hasn’t stopped the increasing worth of Iowa and Illinois crop land.
Midwest farmland value is up 15-percent compared to this time last year
The Federal Reserve Bank of Chicago says he value of “good” farmland is up 22-percent in eastern Iowa.
It’s up 14-percent in northwest Illinois.
About a quarter of the banks in the Midwest also expect an increase in the third quarter as well.