Center for Agriculture and the Economy
Leveraging expertise from the Kansas City Fed, the Center provides timely analysis of industry developments and conducts ongoing research on the agricultural economy.
Strong Agricultural Real Estate Values Continue to Support the Farm Sector
June 18, 2026
By Ty Kreitman
Farmland values in the Midwest and Plains states increased slightly in early 2026 and remained near record highs. According to results from the first quarter Surveys of Agricultural Credit Conditions, nonirrigated cropland values increased by an average of 3% from a year ago in participating Federal Reserve Districts. Land markets softened in recent years alongside challenges in the crop sector and tighter farm finances, but valuations have remained at record highs in many regions and strength in the cattle sector has supported sharp growth in ranchland values in some areas. The strength in real estate values has provided broad support for the sector and helped keep leverage near historical averages.
Source: Federal Reserve Surveys of Agricultural Credit Conditions
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Through regular surveys, analysis and connections across the industry, the Kansas City Fed has had a longstanding focus on U.S. and global agriculture. Leveraging this expertise, the Center for Agriculture and the Economy serves as a resource within the Federal Reserve System by providing timely analysis of industry developments and conducting ongoing research on the agricultural economy. The Kansas City Fed is committed to understanding developments in the agricultural economy and gathering perspectives from rural America in order to include them in discussions on the national economy.
The Kansas City Fed's Ag Connection
Agriculture is central to the Kansas City Fed’s 10th District’s economy, from farm production and food manufacturing to agricultural banking and finance. Through its regular surveys, analysis and connections across the industry, the Kansas City Fed has had a longstanding focus on the U.S. and global agricultural economy. At the same time, connecting with stakeholders and ag industry professionals through events, round tables and conversations is critical to the Bank’s work.