Fed: Farmland value keeps rising

ST. LOUIS (AP) – The value of Midwestern farmland continues to soar.

The Federal Reserve Bank of St. Louis says in a report issued Thursday that a five-year trend of increasing farmland values continued in the district it covers. Farmland values are up 11 percent in the second quarter compared to the first quarter, and are up more than 20 percent compared to the second quarter of 2012.

The report is based on information from 48 agricultural banks in Missouri, Illinois, Arkansas and parts of Indiana, Kentucky, Mississippi and Tennessee.