21-03-2014 01:35 AM | USA

Minnesota farmland prices continue to rise

The price of farmland continues to climb in Minnesota, though the rate of increase is easing, according to a new statewide land survey.

The average acre of Minnesota farmland sold for $5,071 during 2013, on an adjusted basis, the study showed. That's up 5 percent from the previous year, and the highest in the study's long history.

"It's a continuation, absolutely," said Steve Taff, a University of Minnesota applied economist who tallies sales data on every acre of farmland in the state. "We hear stories that some of the Federal Reserve regions were reporting some downturn, and we're just not seeing that at all (in Minnesota)."
Full Story : Pioneer Press