Iowa Cropland Values Post 5% 6-month Decline
As reported by AgWeb:
All nine Iowa crop reporting districts showed a decrease in cropland values. The districts varied from a 2.4% decrease in the east-central district to a 6.2% decline in the northwest and south-central districts since Sept. 1, 2015.
“The declines in those two districts highlight the impact of the sharp drop in commodity prices seen at the end of 2015 into early 2016,” notes Kyle Hansen, ALC-A, Hertz Real Estate Services, Nevada, Iowa, and chair of the organization’s land values survey committee. “Strong livestock prices supported land values somewhat in the northwest district in our Sept. 1 survey. Values were down only 2.5% as of Sept. 1. But they dropped 6.2% from then until March 1,” he notes. “The drop in corn and soybean prices impacted the central district with a 3.7% decline reported for last Sept. 1 followed by a 5.9% decrease for March 1. That’s a total of 9.6%,” he comments.
Read the full article for more information here: http://www.agweb.com/blog/your-precious-land/iowa-cropland-values-post-5-6-month-decline/
Tell us what you think? Are you tracking the story? Where do you see farm prices going from here? A rebound, steady decline, or sharp decline?