DES MOINES, Iowa (AP) _ The 2013 Iowa Land Value Survey says farmland values rose 5.1 percent from last year, setting another record.
The Des Moines Register says the new survey shows farmland values rose to more than $8.700 an acre. It was the fourth year in a row that farmland values rose in the Iowa State University survey of nearly 500 real estate experts. Last year’s figure was nearly $8,300 an acre. Despite the new high, some of the experts say values may be eroding.
Land demand could slow because Iowa farmers are concerned about lower commodity prices and a proposed rollback in the mandate for corn-based ethanol. There’s also uncertainty over interest rates and over the prospects for a new farm bill.
