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 good Missouri cropland increased 18.9% for the year ending in July, according to a survey conducted by University of Missouri Extension. The survey found cropland value rose in 17 of the 20 areas of the state with good cropland rising $612 an acre to an average of $3,847. Average-quality cropland rose 15.0% to an average of $2,955 an acre while poor-quality cropland increased 16.8% to an average value of $2,264 an acre.
Pasture values increased in 16 areas with the state average for good pasture rising 7.7% to a value of $2,227 an acre. Non-crop/non-pasture land values increased in 17 areas with the statewide average $160 higher at $1,578 an acre. Land with timber was valued lower in 10 areas with the state average down $15 an acre at $1,630 an acre.
Over the next 12 months, respondents expect cropland values to increase about 3%, pasture to rise about 1.6% and other types of rural land to remain steady.
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