Farmland values down March to September

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The average value of Iowa farmland dropped 1.7 percent from March to September, but remained up 1.2 percent for the year, according to a survey of farmland specialists, the Iowa chapter of the Realtors Land Institute said. According to the respondents, the value of high-quality farmland dropped to $9,237 from $9,392 from March to September. Values varied by region and whether the assessment was of farmland, pasture or timber. Major factors contributing to current farmland values were commodity price levels, limited amount of land on the market, tariffs and world trade agreements, and increasing interest rates. Other factors included tight operating capital, alternative investments, cash on hand and yields.