NEWS
Plains Farmland Prices Up 24%
Thu Nov 15, 2012 02:06 PM CST

(Dow Jones) -- The worst drought in decades didn't stop a boom in farmland values in the heart of the U.S. Plains, but it has cut into farmers' incomes and forced them to cut back on capital spending, the Federal Reserve Bank of Kansas City said.

The value of nonirrigated farmland in the Kansas City district, which includes all of Nebraska, Kansas and Oklahoma, was up 24.4% during the third quarter versus a year ago. While the rate of gain has slowed, values still climbed 3% from the prior quarter, the Kansas City Fed said.

Historically high grain prices have ...

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