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45699

Iowa Cropland Value Takes Biggest Haircut

Iowa's cropland value saw the biggest decline in the U.S. over the last year, according to the USDA National Agriculture Statistics Service (NASS) 2015 Land Value Summary released this week.

Cropland prices in Iowa dropped to $8,200 an acre, 6.3% lower than the previous year’s value of $8,750. Iowa cropland surged from $5,600 an acre in 2011 to $8,750 in 2014.

The Corn Belt region averaged a 2.3% decline in cropland value from 2014 to 2015. Minnesota cropland saw the biggest deficit in the Lake region with values at $4,750 for 2015, compared to $4,870 in 2014.

South Dakota actually improved marginally with an 8.7% increase to $3,730 an acre in 2015 vs. $3,430 in 2014. Cropland value in Nebraska fell by 2.1% over the last year to $5,070 an acre, and Kansas saw a lower price of $2,210, 2.2% lower than that of 2014.

Nationally, cropland in the U.S. saw an increase of .7% over the last year at $4,130 an acre, vs. $4,100 in 2014.

Overall, the report indicates that the U.S. farm real estate value averaged $3,020 per acre for 2015, up 2.4% from 2014 values. Regional changes in the average value of farm real estate ranged from a 6.1% increase in the Southern Plains region to 0.3% decrease in the Corn Belt region. The highest farm real estate values were in the Corn Belt region at $6,350 per acre.

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