MILWAUKEE (AP) — A survey from the Federal Reserve Bank of Chicago says the value of Wisconsin farmland in its district fell about 2 percent from April through June.
The Milwaukee Journal Sentinel reports the survey also showed the value of “good” farmland dropped 2 percent for the second quarter of 2015 from a year earlier. That’s the first such decline in nine quarters.
The bank’s Seventh District includes most of Wisconsin.
The newspaper says farm real estate values have generally risen in Wisconsin for years. According to U.S. Department of Agriculture data, farmland values in the state rose 7.3 percent on average in 2014.
Chicago Fed senior business economist David Oppedahl says the drop in farmland values can be attributed in part to falling commodity prices.