Following a three-year decline, it appears farmland values may be stabilizing in 2018. Iowa State University released the results of its annual land values survey in late December. It shows Iowa land values climbed 2% in 2017. The average statewide price for farmland is $7326 per acre, an increase of $143 per acre. The survey shows land values declined in only four of the state’s 99 counties. Iowa land values are often used as a benchmark.
In an un-related survey, the Purdue-CME Ag Economy Barometer shows “less pessimism” among the 400 agricultural producers surveyed for the report. Jim Mintert, director of Purdue’s Center for Commercial Agriculture, says improving land values is a major part of the improving sentiment.