Iowa Farmland Value

By: Associated Press Email
By: Associated Press Email

The value of Iowa farmland is up 32.5 percent from last year to a record of over $6,700 an acre.

The Des Moines Register says an annual survey by Iowa State University also shows the percentage increase breaks a 38-year-old record of 31 percent set in 1973.

The survey released Wednesday shows the average price rose from
$5,064 an acre to $6,708 an acre from November 2010 to last month.

Before this year the previous high average, adjusted for inflation, had been $5,770 per acre in 1979,

ISU economist Mike Duffy, who conducts the survey, says farmland
values have surged along with the surge in commodity prices and
farm incomes.

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