Report shows Iowa farmland values dropped in last year

A farmer in a tractor prepares his field as the sun begins to set. The tractor is backlit by the setting sun. ** Note: Soft Focus at 100%, best at smaller sizes

Des Moines, Iowa – A new report says Iowa farmland values fell 2.7 percent over the past year, in part because of trade disputes.

The Iowa Chapter of the Realtors Land Institute says the decline occurred despite federal government’s trade bailout program, limited land and higher yields in some parts of Iowa.

The Des Moines Register reports the statewide average was nearly $6,800 an acre (0.4 hectare).

The institute says trade wars with Canada, China, Mexico and other countries tugged on farmland values, especially last fall, as did tightening cash for operations and higher interest rates.

 

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