Federal Reserve says farmland values increasing

OMAHA, Neb. - The Federal Reserve Bank of Kansas City says farmland values continued to rise during the second quarter.

The Fed said Friday that its survey of banks in the 10th district showed a 5.6% annual increase in the value of irrigated cropland and a 4.8% increase in non-irrigated land.

The biggest increases came in Kansas, where irrigated land values jumped 9.2%, and Nebraska, where irrigated land values increased 6.4%. Both states recorded a 6.6% increase in dryland values.

The Federal Reserve says demand for farmland remains strong from both farmers and investors.

The 10th Federal Reserve District in Kansas City covers Kansas, Nebraska, Oklahoma, Wyoming, Colorado, northern New Mexico and western Missouri.