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Land Resources / News / Farm land values rise as crop prices soar
Farm land values rise as crop prices soar (complete article from source)
Source: Nebraska.TV
February 25, 2008

KANSAS CITY, Mo. (AP) - Real estate values in cities around the country have been falling or remaining flat. But experts say prices for agricultural land in Kansas and Missouri are strong, thanks largely to high crop prices.

A survey from the Federal Reserve says the price of agricultural land was up more than 20% in Kansas and the western third of Missouri in the last quarter of 2007. That's compared to the same quarter last year.

Urban real estate values, however, have not fared so well.

Economists say the recent surge in rural prices is due to booming crop prices driven largely by the demand for biofuels. Corn and soybean prices have doubled, and wheat prices tripled in the past two years.

There's also an improved foreign market because of the weak dollar and growing demand for U.S. farm products.



Click here for complete article from Nebraska.TV

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