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Iowa farmland prices drop 8.7 percent in year

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Cropland values in Iowa dropped 8.7 percent in the year that ended Sept. 1, the Iowa Chapter of the Realtors Land Institute reported Wednesday. The statewide average dropped 3.7 percent from March to September. Losses were highest in south-central counties and lowest in west-central Iowa. Low grain prices and increasing interest rates were among factors that fueled the drop. Read the full survey.