Guessing Games
Victoria G. Myers Progressive Farmer Senior Editor
Fri Nov 22, 2013 02:39 PM CST

Iowa has been the unofficial gold standard for Midwestern farmland values throughout most of the real estate boom. Prices here soared over 60% in just two years. But are those numbers real? Is an acre of Iowa farm ground really worth on average $8,600, as the USDA's most recent report says?

"When the land market is changing 50 or 60% in two years, you go to auctions to see what is really happening," says Iowa State University ag economist Mike Duffy. He's seen some "no-sales" for good land recently and believes this signals a shift in the mind-set of buyers.


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