Unusual trends reported by the Iowa farmland value survey

The Iowa farmland value survey released by the Center for Agricultural and Rural Development of Iowa State University defied expectations this year.
Farmland values per acre were experiencing a three year (2014-2016) steady decline unsettlingly similar to that of the 1980s farming crisis. At the end of 2016, dollar value per acre of farmland fell 17.5 percent shy of the historic value reported in 2013.
Agricultural experts advised that there is no reason for worry, however.
“We are unlikely to see a replay of the 1980s farm crisis… respondents expect the land market will rebound five years from now,” stated Assistant Professor Dr. Wendong Zhang of ISU.
The survey results of 2017 showed unexpected growth, with an average 2.0 percent land value increase, translating to roughly $143 more per acre. The statistic for the north central Iowa district alone is even higher, coming in at an average 3.2 percent increase in value.
Read the full story in the December 27 edition.