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Farmland Prices Stabilize in Iowa, increase in Nebraska, South Dakota and Wyoming

Jul 16, 2014

Omaha, Nebraska (July 16, 2014) – Prices and demand for farmland remained strong in the first six months of 2014 in the four-state territory of Farm Credit Services of America (FCSAmerica). Farmland values appear to have stabilized in Iowa, where the market showed signs of softening in the last half of 2013. In Nebraska, South Dakota and Wyoming, land values continue to increase.

The number of auctions remained at 2013 levels in Iowa, Nebraska and South Dakota after dropping 25 percent from a historic high in 2012. Cropland in these three states showed the greatest gains through June 2014. In Wyoming, much of the increase in farm values was driven by strong livestock prices.

These findings are based on FCSAmerica’s  semi-annual appraisal of 64 farms identified as benchmarks for land value and real estate trends. The FCSAmerica appraisal team updates values for its benchmark farms based on real estate sales through January 1 and July 1 of each year, providing one of the most robust agricultural real estate valuation databases in the Midwest.

Lower commodity prices had led to reports in early 2014 of more cautious land buyers and declining farmland values. But several years of record high profitable production and low interest rates continued to positively impact the farmland market through June. As a whole, the 64 benchmark farms rose in value by 2.4 percent in the first six months of 2014.

The chart below shows the average change in benchmark farm values by state. The number of benchmark farms for each state is shown in parenthesis.

 State

Six Month

One Year

Five Year

Ten Year

Iowa  (21)

-0.9%

-3.7%

103.0%

245.5%

Nebraska  (18)

1.5%

2.2%

143.6%

314.7%

South Dakota (23)

5.8%

13.6%

117.2%

332.7%

Wyoming  (2)

5.8%

9.5%

7.8%

68.6%

 

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About Farm Credit Services of America

Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With assets of more than $21 billion, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at www.fcsamerica.com.

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