Minnesota farm prices dropping, bust ahead?

August 27, 2014 |

In Minnesota, the most recent quarterly survey of agricultural bankers by the Federal Reserve Bank of Minneapolis, which tracks the important asset, shows Minnesota farmland prices have started to decline after a boom accompanying ethanol development. Prices per acre have fallen about 4.5 percent from what they were a year ago. That would reflect a decline of about $4 billion in farm wealth across the state, reversing a steady upward trend for much of the past decade, when land prices more than doubled in value.

 

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