Cropland Up 20% Central Plains, Fed Bank Survey
May 13, 2011
The value of Central Plains cropland rose 20% on an annual basis, reports the Federal Reserve Bank of Kansas City. It's quarterly report shows strongest gains occurred in Kansas and Nebraska. In Kansas, the value of non-irrigated cropland rose 23.8% while the value of irrigated cropland increased 18.3%. In Nebraska, the value of non-irrigated cropland rose 23.7% and irrigated cropland rose a nearly identical 23.5%. Non-irrigated cropland in northwest Missouri rose 16.9% and 14.5% in Oklahoma. The survey found non-irrigated cropland increased 10.3% in the mountain states of Colorado, northern New Mexico and Wyoming. Irrigated cropland rose 12.4% in the mountain states.
The value of ranchland rose, as well, according to the survey. The value of district ranchland rose 11% on an annual basis, according to the survey of bankers. Ranchland rose 11.2% in Kansas; 12.1% in northwest Missouri, 11% in Nebraska, 10.4% in Oklahoma and 11.2% in the mountain states.
In addition, two-thirds of survey respondents said they expected cropland values to level off as the growing season got underway.
On a quarterly basis, the value district non-irrigated cropland rose 7.2% while irrigated cropland gained 6% and ranchland rose 3.4%. In Kansas, non-irrigated cropland rose 7.6%, irrigated 5.8% and ranchland 1.8% versus the prior quarter. In northern Missouri, non-irrigated cropland rose 10% and ranchland rose 8.1% on a quarterly basis. For Nebraska, non-irrigated cropland rose 7.2%, irrigated cropland gained 7% and ranchland was unchanged compared to the fourth quarter of 2010. For Oklahoma, the value of non-irrigated cropland slipped 0.2% while ranchland rose 1.65% when compared to the previous quarter. For the mountain states, non-irrigated cropland rose 6.7%, irrigated cropland gained 2.2% and ranchland rose 7.25% when compared to the prior quarter.
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