Iowa farmland rises in value this year, setting record
DES MOINES (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 (http://dmreg.co/J9F3hK ) 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.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.