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Missouri farmland values at record highs

As in other states in the farm belt, farmland prices in Missouri have risen to record high levels. Driven by high commodity prices and low interest rates, Missouri farmland prices mid-year were up 19%, pastureland is 18% higher and non-ag lands are up nearly five-percent compared to July 2011.

Karisha Devlin is a University of Missouri Agribusiness Specialist says, “It appears that producers are still the majority that are purchasing farm ground.”

Ninety percent of Missouri farmland purchases are either farmed by those who buy it or rent it out to farm. The average price for good farmland is $3,847 per acre in Missouri. The biggest jump was in irrigated cropland.

As for cash rents, she says, they are expected to remain steady in 2013 for above-average crop and pasture ground whereas prices for poor ground are expected to go down slightly.

~Missourinet contributed to this story~