The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Mike Walsten has covered major business trends in agriculture for more than 40 years.
The value of irrigated and non-irrigated cropland rose 14.8% and 12.9%, respectively, in 2010, according to the most recent survey conducted by the Federal Reserve Bank of Kansas City. The survey also found the value of ranchland rose 9.2%. The bank, which serves Kansas, northwest Missouri, Nebraska, Oklahoma and the mountain states of Colorado, Wyoming and northern New Mexico, found gains in cropland values in Oklahoma and Mountain States were muted compared to those in Kansas, Missouri and Nebraska due to drought. The survey also said average cash rents rose 6%.
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