AMES, Iowa (AP) - An Iowa State University survey says farmland values in the state rose 2.3% over the past year, despite the trade disputes and declining income.
A report released Wednesday says it's only the second increase in six years. An Iowa State economist says low interest rates, strong yields and a limited amount of available land helped boost the statewide average to $7,432 an acre.
But the figure is about 15% below the 2013 high of $8,716 an acre. Farmers still face challenges from the ongoing U.S.-China trade war, which has led to lower commodity prices and weaker farm income.
(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)