USDA says Iowa’s cropland value soars in 2011
August 9th, 2011 by Ric Hanson
CEDAR RAPIDS, Iowa (AP) – The U.S. Department of Agriculture says Iowa’s cropland value has increased by nearly 24 percent in 2011 over the previous year. The rise in cropland value in Iowa was the highest in the nation. Nationally, cropland values increased by a little over 9 percent.The average cropland value in Iowa was $5,700 an acre.
Iowa State University economist Mike Duffy says the increased value isn’t surprising due to low interest rates and high prices for corn and soybeans.