OMAHA, Neb. (AP) -- The average value of farmland in some Midwestern and Western states has risen 25 percent in the past year.
The Federal Reserve Bank of Kansas City, Mo., said Tuesday that bumper crops and strong farm income in northern Plains states, like Nebraska, helped push up prices despite drought and flooding.
The Federal Reserve says its third quarter survey of 243 banks showed the largest annual increase in land values since the survey started in 1994.
The 10th Federal Reserve District covers Kansas, Nebraska, Oklahoma, Wyoming, Colorado, northern New Mexico and western Missouri.
Nebraska farmland values increased the most with a roughly 40 percent jump over 2010.
The gains were smallest in drought-stricken Oklahoma, where the value of non-irrigated farmland grew about 11 percent.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org.
Please provide detailed information.
All comments must adhere to the WSAW.com discussion rules.