The value of irrigated and non-irrigated cropland rose 14.7% and 16.6%, respectively, in 2010, according to the most recent survey conducted by the Federal Reserve Bank of Minneapolis. The bank, which serves Minnesota, Montana, North Dakota, South Dakota, northwestern Wisconsin and the Upper Peninsula of Michigan, found the ranchland values rose 7.4%. The bank survey also found cash rents for irrigated cropland rose 14.4%, 10.4% for non-irrigated cropland and 5.3% for ranchland. Nearly two-thirds of survey respondents said the number of land sales decreased or were unchanged..
Click here to see the full report.
I will have more details in the next issue of my newsletter. If interested in seeing a copy of LandOwner, just drop me an email at [email protected] or call 800-772-0023.