the republic logo

Report shows drop in Iowa farmland values as commodity prices, income decline


AMES, Iowa — The average price of Iowa farmland fell nearly 9 percent in the past year, but it still remains far above the prices of a decade ago.

A report from the Center for Agricultural and Rural Development at Iowa State University shows prices fell 8.9 percent, to an average of $7,943 an acre. Despite the drop, the average price is more than double prices seen a decade ago, the Des Moines Register reported ( ).

"Commodity prices and farm income are settling back to more expected levels, and I think land values will probably move sideways for a while," said Michael Duffy, a retired Iowa State professor who conducted the survey.

It was the second time since 1999 that the survey showed farmland prices had declined.

Steve Bruere, the president of Clive-based land brokerage and management firm Peoples Co., said recent increases in grain prices should help farmland prices. Corn futures now are trading at about $4 a bushel.

"I don't think the 9 percent drop in land values in itself is going to cause a lot of stress," he said. "If you see corn prices with a 3 in front of it instead of a 4, then I think we'll start to see some pain."

Eastern Iowa's Scott County had the highest average farmland price at $11,618. The lowest average price was $3,587 in Decatur County, in south-central Iowa.

Information from: The Des Moines Register,

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)





Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.