Farm managers: Land prices to ease more in next year

Iowa farm managers and real estate brokers are forecasting a slight decline in farmland values over the next 12 months, according to an informal audience survey at last week’s 87th annual Soil Management and Land Valuation Conference hosted by Iowa State University (ISU).

Farm values are expected to drop 1 to 4 percent in northwest, northeast and southwest Iowa, the survey of some 200 conference participants showed. Southeast Iowa is the only section where farmland values are expected to rise — a contrast to last year’s conference when brokers forecast steady to rising land values in all four areas of the state.

The survey reflects expectations for declining crop prices, which will result in lower net income for U.S. farmers,...

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