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Analysis: Iowa farmland fell 15%
An analysis of Iowa cropland values indicates prices fell 15 percent in the first quarter of this year.
The Peak Soil Iowa Cropland Value Index shows 1st quarter values were 8,168 dollars per acre versus 4th quarter 2013 values of 9,565 dollars per acre.
Paul Kanitra, president of Peak Soil, says their index is the first to capture the severity of the corn and soybean sell-off that started in 2013.
“What took place in the 1st quarter—and I’m not making any sort of prediction what’s going forward—is basically we’ve just reacted to the plunge in corn and soybean prices in the state of Iowa that started at some point in 2013,” Kanitra says. “The market is very uneasy about that.”
Peak Soil develops farmland indexes for the investment and agricultural community.
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