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Wisconsin farmland values increase during third quarter

CHICAGO (WTAQ) - Wisconsin kept up with the rest of the Midwest, as the values of most good quality farmland increased between July and September. 

However, the upward trend is not expected to continue.  

21 percent of bankers surveyed by the Federal Reserve Bank of Chicago expect farmland values to drop in the final quarter of the year. The other 75 percent expect those prices to hold steady. 

For now, however, Wisconsin's looking good. The Federal Reserve Bank said the values of good agricultural land jumped by 5 percent in the last quarter in both Wisconsin and Michigan. Indiana had a two percent increase, and Illinois one percent. 

Iowa reported one percent drop during the third quarter of the year. 

For the 12 months ending October 1st, Wisconsin had the region's fourth largest increase in values for good farmland, at 14 percent. Indiana had the biggest annual jump at 17 percent followed by Michigan, Illinois, Wisconsin, and Iowa.