AMES, Iowa (AP) – An Iowa State University survey says farmland values in the state rose 2.3% over the past year, despite the trade disputes and declining income.
A report released Wednesday says it’s only the second increase in six years. An Iowa State economist says low interest rates, strong yields and a limited amount of available land helped boost the statewide average to $7,432 an acre. But the figure is about 15% below the 2013 high of $8,716 an acre.
Farmers still face challenges from the ongoing U.S.-China trade war, which has led to lower commodity prices and weaker farm income.