Nebraska farmland values soared 23 percent last year as crop prices remained strong.

That latest jump continues the steady increase in the value of agricultural land that the Nebraska Farm Real Estate Market Survey has found over the past five years.

The latest survey released Thursday showed that Nebraska farmland was worth $1,425 per acre on February 1st. That's 88 percent higher than in 2003.

Agricultural economist Bruce Johnson says land values reached an all-time high in 2007 even after the figures are adjusted for inflation.

Strong demand for corn from the growing ethanol industry has helped push crop prices higher, and Johnson says that has fueled the rise in land prices.