Midwest Farmland Values Improve according to Colvin & Co. LLP Farmland Forecast May Newsletter. Farmland values in the upper Midwest increased 100 basis points during the first quarter of 2015, after declining over the past six months. Farmland values from the first quarter of 2014 were unchanged due to the large decline in grain prices over the past year. Credit conditions continued to send mixed signals at a time when farmers are recovering from a decline in farm income. Read the entire article here.