Agricultural land values for the five-state Seventh Federal Reserve District to which Indiana belongs jump by almost one quarter (23) percent in the first quarter of 2022 from the prior year quarter, continuing the recent streak of sharp year-over-year gains. Indiana’s 23% growth rate matches the region, but our eight percent growth in the dollar value of “good” farmland from January through March 2022 more than doubles the next best rate produced by the other four states in our Fed district. Cash rental rates for farm acres in our district increased by 11% from 2021 to 2022, with Indiana again spot-on the average.
