Illinois farmland survey
Based on the survey results, Illinois farmland values have fallen 8% in the past year. Farmland values remain strong with top quality land still averaging $11,600 per acre. The decline is a result of lower net farm income due to several factors. Lower commodity prices due to back to back large crop production, a strong U.S. dollar making exports more expensive to our trade partners. On the positive side interest rates remain historically low and debt to asset ratios are also at historic lows. Crop input costs are trending down. Projected ROI for farmland is in the 2.5% range vs 3.5-4% in recent years.