Farmers Rejoice! No Deflation in Farmland Values, Says Kansas City Fed
Don't let Monsanto find out or they'll start doing the math and putting an even higher premium on their frankenseeds.
The value of farm land in the U.S. Central Plains rose nearly 4 percent in the second quarter as demand for farmland stayed strong from farmers and investors despite lower farm incomes, the Federal Reserve Bank of Kansas City said Friday.
"Demand for farmland remained solid as buying by both farmers and non-farm investors was active," the Fed said in its quarterly survey of 240 regional bankers.
"Survey respondents commented that very few farms were for sale, and most bankers expected farmland values to remain at current levels over the next three months," it said.
That's funny, I was just shmobbing through middle America not that long ago and noticed the exact opposite but maybe I was fucked up on beef jerky and Pilot coffee.