28-03-2014 02:17 AM | USA

Iowa farmland values fall on lower commodity prices

The average value of a good acre of Iowa farmland declined 5.4 percent to $11,104 over the last six months, according to a survey by the Iowa Chapter of Realtors Land Institute.

Combining the 5.4 percent decrease with the 1.2 percent increase reported in September indicates a statewide average decline of 4.2 percent for the year from March 1, 2013, to March 1 of this year.

That’s a sharp contrast to previous increases reported by RLI. The average price of Iowa farmland jumped 17.1 percent from March 1, 2012, to March 1, 2013.

All nine crop reporting districts posted decreases over the last six months, according to the RLI survey.
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