ESSENTIALS: 2021 Farmland Value Study Results

Issue 4

August 2021

Annual Benchmark Study Released

Farmland Values Show Robust Increase

Farmland values increased an average of 8.54% in the past year according to FCI’s annual farmland study with 18 of the 20 benchmark farms in central and southern Illinois showing an increase and two remained unchanged. This is the third consecutive year of an increase in values. When considering the 20 benchmarks individually, the year-over-year percentage changes ranged from no change to a 20.51% increase.

Read the Farmland Values Study Summary

Financial Snapshot

2nd Quarter Business Results

INTERESTing Times

The FOMC Discusses Fed Funds, the Economy, and Bond Buying

The recent Federal Open Market Committee (FOMC) meeting discussed unexpected rapid economic growth and high inflation pressures, as well as the future of the bond purchasing program.

Read INTERESTing Times

Price Check

Land Sales in Past Six Months

The listing includes results for 80 different farmland auctions reported since the last results were published in February 2021. These public auctions concluded with successful bids and represented 8,000 total acres in 26 different counties selling for a grand total of $82.2 million with an average price of $10,273 per acre. The highest price per acre was $16,800 for Class A land in Edgar County; the lowest price per acre was $2,553 for Class C land in Richland County.

Recent Auction Prices

T.I.P. Technology & Information Protection

Phishing Attacks: A Scam Prevention Guide

Phishing attacks are unavoidable in this technology age, which makes it crucial to learn how to identify and prevent them. Learn the five tips to help protect your personal and farm business information from one of the most common online threats.

Prevent Phishing Scams

Get Easy Access to Affordable Credit with

The FCI Operating Loan Advantage

Liquidity can be crucial for farm businesses, especially beginning farmers. An operating line of credit from Farm Credit Illinois makes having cash-on-hand simple and convenient. Learn more about how FCI operating loans help you cash in on patronage, write checks without checking in, let your funds flow seamlessly, and offer lending assistance to young and beginning farmers.

The FCI Operating Loan Advantage

Crop Insurance Deadlines Approaching

Contact Your Agent Today with Questions

AUGUST 15

Corn & Soybean Premium Billing Date – Interest on unpaid premiums begins accruing after Sept. 30

AUGUST 15-SEPTEMBER 14

Margin Protection & Wheat Discovery – 2022 MP and wheat projected prices set

SEPTEMBER 30

Margin Protection & Wheat Sales Closing Date – Last date to purchase, change coverage level, or cancel coverage

OCTOBER 1-31

Price Discovery – 2021 corn and soybean harvest prices set

*Contact FCI agent for county-specific dates

Contact Your Crop Insurance Agent

#MembershipPays with Patronage

Thanks for Your Cooperative Membership

Nearly 8,000 member-borrowers received their share of a $30 million patronage distribution the week of June 15. This followed FCI’s special $10 million preseason payment in March. Over the past three years, more than $88 million of patronage has been distributed to FCI members. In fact, 90% of FCI’s 2020 traditional operating loans received cash patronage in June 2021 which lowered the loan’s effective interest rate by at least 1.25%. (This calculation excludes loans with discounted interest rates exclusively for FreshRoots and young and beginning farmers.)

FCI Celebrates #YourSlice of Patronage

Raffles & Reactions

Enter to Win One of Ten Grill Sets - Drawing to be held Sept. 4

Here's a chance to win an "essential" to use during the heat of the Illinois summer. The Pit Master BBQ set is perfect for the on-the-go griller or to keep the grill tools separate from the kitchen utensils.

Enter to win

Congratulations to the winners of the trucker caps and rain gauges following Issue 3:

Dennis Banach of Perry County
Chad Hilmes of Bond County
Marvin Johnson of Christian County
Maynard Kaufmann of Jasper County
Alexis McFarland of Richland County
Alan Reeser of DeWitt County
Joseph Schaaf of Jersey County
Luke Shores of Cass County
Steve Smith of Clark County
Misty Wuebbels of Saint Clair County

In Issue 3 of Essentials in 2021, we asked readers how they would describe their 2021 planting season. Here are the results from 173 respondents.

On the Block

Upcoming Farmland Auctions

Farm Credit Illinois maintains a list of upcoming farmland auctions submitted within the Association’s 60-county marketplace.

View Listings or Submit an Upcoming Farmland Auction

Visit the Farm Credit Tent at the Farm Progress Show

Aug. 31 - Sept. 2 in Decatur

We hope to see you at this year's Farm Progress Show in Decatur at the Farm Credit tent - Booth 763 on the corner of Central Progress & West Progress Avenue. Grab a seat and enjoy live music, ice cold bottled water and enter for a chance to win prizes!