In spite of continued low grain prices, land values have held strong. It seems that concerns about low grain prices leading to a steep decline in land values are unfounded or at least premature. When compared to 1999, real estate values reported by USDA in January 2000 indicated small declines in values for Indiana and lllinois -- 0.5 percent in Indiana and 1.3 percent in Illinois. There was an increase of 1.4 percent in real estate values reported for Ohio. Real estate values for Ohio, Indiana andlllinois from 1970 to 2000 are presented in Figure 1.
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