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New USDA survey: Land values continue to defy gravityNew USDA survey: Land values continue to defy gravity

Corn Belt states drop slightly while overall U.S. cropland values remain unchanged from year earlier.

Mike Wilson

August 4, 2017

4 Slides

U.S. cropland values remained unchanged at $4,090 per acre from the previous year, according to a new USDA survey.

In Corn Belt states, where four years of weak corn and soybean prices have pressured profits, farmland values dropped just a half percent. In the Southern Plains, average cropland values increased 6% from the previous year while cropland values decreased by 4.4% in the Northern Plains.

The highest farm real estate values were in the Corn Belt region at $6,260 per acre. The Mountain region had the lowest farm real estate value at $1,130 per acre.

According to the survey, Corn Belt states – Illinois, Indiana, Missouri, Ohio and Iowa – saw cropland prices change only marginally over the past five years: $6,470 per acre in 2013, $7,000 per acre in 2014, $6,840 per acre in 2015, $6,710 per acre in 2016 and $6,670 per acre in 2017 for an overall drop of just .6%.
The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,080 per acre for 2017, up $70 per acre (2.3%) from 2016 values. Regional changes in the average value of farm real estate ranged from a 8.7% increase in the Pacific region to 1.8% decrease in the Northern Plains.

The U.S. pasture value increased by $20 per acre (1.5%) from 2016 values. The Delta region had the highest increase of 2.9% from 2016. The largest decrease, at 1.7%, was in the Corn Belt region.

Irrigated California cropland values rose from $11,800 per acre in 2013 to $13,300 per acre in 2017 for a 3.1% increase over five years.

About the Author(s)

Mike Wilson

Executive Editor, Farm Futures, Farm Progress

Mike Wilson is executive editor and content manager at FarmFutures.com. He grew up on a grain and livestock farm in Ogle County, Ill., and earned a bachelor's degree in agricultural journalism from the University of Illinois. He was twice named Writer of the Year by the American Agricultural Editors’ Association and is a past president of the organization. He is also past president of the International Federation of Agricultural Journalists, a global association of communicators specializing in agriculture. He has covered agriculture in 35 countries.

“At FarmFutures.com our goal is to get readers the facts and help them analyze complicated issues that impact their day-to-day decision-making,” he says.

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