Iowa cropland value hits new record $8,750 an acre - KSFY News - Sioux Falls, SD News, Weather, Sports

Iowa cropland value hits new record $8,750 an acre

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DES MOINES, Iowa (AP) - The value of farmland in Iowa is up again this year reaching a new high at a time when many observers expect values to drop due to falling commodity prices.

The U.S. Department of Agriculture says in a new report released Friday the average value of an acre of cropland in Iowa rose 9.4 percent from a year ago to a new record $8,750.

The value of farm real estate - a measurement of the value of all land and buildings on farms - climbed 10.4 percent to $8,500 an acre. Iowa leads the nation in the value of farmland and buildings with a total value of $235.6 billion. That's up nearly 18 percent.

The annual report is based on producer surveys completed in the first two weeks of June.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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