Iowa farmland values up nearly 7 percent

DES MOINES, Iowa (AP)--The value of Iowa farmland is up nearly 7 percent in the past six months, largely due to record commodity prices.

A survey by the Iowa Farm and Land Realtors released on Sept. 16 shows farmland values rose 6.6 percent since the last survey in March.

Troy Louwagie, a land consultant with Hertz Real Estate Services, says a continuation of those prices will determine how long the increase continues.

The statewide average for high quality cropland in the survey in September was $5,619 per acre, up from $5,223 in March.

Northeast and southwest Iowa showed the greatest gain in land values since March, at 8.5 percent and 8.7 percent respectively.

9/29/08
6 Star Midwest Ag\15-B

Date: 9/23/08

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