FarmPolicy

May 19, 2019

Agricultural Economy; Cuba Issues; and, Regulations

Agricultural Economy

Joel Aschbrenner reported on the front page of the Business Section in Friday’s Des Moines Register that, “Iowa farmland prices fell 8.9 percent in the past year, the largest annual decline in 28 years, according to a report released Thursday by the Center for Agricultural and Rural Development at Iowa State University.

But the average price of $7,943 per acre is still more than double what it was a decade ago, and economists say they expect farmland values to level off.”

The article noted that, “‘Commodity prices and farm income are settling back to more expected levels, and I think land values will probably move sideways for a while,’ Michael Duffy, a retired Iowa State economics professor who conducted the survey, said in a news release.”

“‘Many people think this report indicates the beginning of another farm crisis, but land values are still considerably higher than they were just a few years ago.’”

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