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Farmland values surge on growing farm income

IBJ Staff
March 5, 2008
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Indiana farmland values skyrocketed to record levels last year, according to the most recent survey of agricultural lenders by the Federal Reserve Bank of Chicago.

Prices in the northern two-thirds of the state shot up 6 percent in the fourth quarter and 16 percent in 2007. Southern Indiana was not included in the survey because the region is not in its district.

The Fed does not disclose prices.

The 16-percent increase across both the northern two-thirds of Indiana and the entire district was the largest in nearly three decades, the Fed pointed out.

Driving the surge was a boom in farm income. Ethanol plants snapped up millions of bushels of corn, which drove up the price of corn as well as soybeans and other grain.

The 265 bankers responding to the survey expected farmland prices to continue climbing.

In addition to Indiana, the Fed district includes Iowa and most of Illinois, Michigan and Wisconsin.
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  1. The deductible is entirely paid by the POWER account. No one ever has to contribute more than $25/month into the POWER account and it is often less. The only cost not paid out of the POWER account is the ER copay ($8-25) for non-emergent use of the ER. And under HIP 2.0, if a member calls the toll-free, 24 hour nurse line, and the nurse tells them to go to the ER, the copay is waived. It's also waived if the member is admitted to the hospital. Honestly, although it is certainly not "free" - I think Indiana has created a decent plan for the currently uninsured. Also consider that if a member obtains preventive care, she can lower her monthly contribution for the next year. Non-profits may pay up to 75% of the contribution on behalf of the member, and the member's employer may pay up to 50% of the contribution.

  2. I wonder if the governor could multi-task and talk to CMS about helping Indiana get our state based exchange going so Hoosiers don't lose subsidy if the court decision holds. One option I've seen is for states to contract with healthcare.gov. Or maybe Indiana isn't really interested in healthcare insurance coverage for Hoosiers.

  3. So, how much did either of YOU contribute? HGH Thank you Mr. Ozdemir for your investments in this city and your contribution to the arts.

  4. So heres brilliant planning for you...build a $30 M sports complex with tax dollars, yet send all the hotel tax revenue to Carmel and Fishers. Westfield will unlikely never see a payback but the hotel "centers" of Carmel and Fishers will get rich. Lousy strategy Andy Cook!

  5. AlanB, this is how it works...A corporate welfare queen makes a tiny contribution to the arts and gets tons of positive media from outlets like the IBJ. In turn, they are more easily to get their 10s of millions of dollars of corporate welfare (ironically from the same people who are against welfare for humans).

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