Newspaper article St Louis Post-Dispatch (MO)

Mound City Money

Newspaper article St Louis Post-Dispatch (MO)

Mound City Money

Article excerpt

Highlights from David Nicklaus' blog about St. Louis business.

STLtoday.com/moundcitymoney

Farmland prices drop * Farmland prices fell in the St. Louis Federal Reserve district in the first quarter, but bankers in the region expect them to resume their upward climb.

The St. Louis Fed's quarterly Agricultural Finance Monitor says prices for quality land fell 2.3 percent, compared with the fourth quarter of 2012, while prices of ranch and pasture land fell 5.1 percent. Among bankers surveyed by the Fed, however, a majority predicted that land prices will rise in the next three months.

In the bank's St. Louis zone essentially eastern Missouri and Southern Illinois quality farmland was valued at $6,293 an acre.

To the west of the St. Louis district, the Kansas City Fed reported that its survey shows farmland values continuing to rise.

The St. Louis Fed survey found that farm income rose during the first quarter, while demand for agricultural loans was flat. (05.15)

Moody's upgrades Lambert * Lambert-St. Louis International Airport has gotten its second piece of good news this month on credit ratings.

The airport's bonds were upgraded recently by Fitch Ratings, and Moody's followed suit, raising Lambert's rating a notch to A3. The move affects $803 million of outstanding bonds, and could save the airport money on $37.5 million of debt . …

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