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FARMLAND VALUES HIT BY LOWER CROP PRICES

Farmland values fell in parts of the Midwest in the third quarter, reflecting a downdraft in the agricultural sector driven by three years of lower-crop prices, according to Federal Reserve reports. The average price of what is known as quality farmland in the St. Louis Fed’s district, which includes parts of Illinois, Indiana and Missouri, dropped 2.6% from a year ago, as farm incomes weakened considerably, the bank said.

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