An ag appraiser says multiple interest rate hikes have had little impact on farmland values in Illinois so far.
Kent Reid, Chief Appraiser for Farm Credit Illinois tells Brownfield since the Fed began raising rates in May, farmland values in their 60-county territory have remained stable.
“We still are not seeing any major effect on farmland. The land values have held steady throughout that.”
But with another rate hike expected in December, Reid says it’s only a matter of time.