CHICAGO - Actual farmland prices in Kansas, the top U.S. wheat state, generally run far higher than values shown from surveys of farmland owners conducted by the U.S. Agriculture Department, according to a study by a Kansas State University economist.
Farmland prices in Iowa, the top U.S. corn and soybean state, are down by an average 7.6 percent over the past six months and 11 percent from a year ago, pressured by lower grain prices and firmer interest rates, according to a survey released Tuesday.
Upper Midwest agriculturalists have wondered when the big, multi-year run-up in farmland prices will end, or at least slow. A new study in South Dakota indicates the upturn might be running out of steam.
From the potato fields of Michigan to the high prairies of Kansas, farmers are receiving record prices for their land — but economists and banking regulators warn this boom, like so many before it, could end badly.
March 19, 2013
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