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Published September 23, 2009, 01:00 PM

Realtors survey shows drop in Iowa farmland values

DES MOINES, Iowa (AP) — The value of Iowa farmland has taken another dip in the past six months, but the drop is smaller.

By: Associated Press, Worthington Daily Globe

DES MOINES, Iowa (AP) — The value of Iowa farmland has taken another dip in the past six months, but the drop is smaller.

A survey by the Iowa Farm and Land Chapter of the Realtors Land Institute shows farmland values decreased by 1.9 percent from March through September. In the previous six months, farmland values fell 7.6 percent.

Realtors attribute the decline to lower commodity and livestock prices and the economic slowdown.

Buyers are still willing to pay premiums for the best-quality farmland, which averages around $5,300 per acre, up 0.3 percent.

All categories of Iowa farmland averaged about $4,150 an acre in the latest survey. That compares with around $4,230 an acre in March.

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Information from: The Des Moines Register, http://www.desmoinesregister.com

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