MILWAUKEE (AP) -- The value of farmland in Wisconsin keeps increasing as farmers benefiting from high corn and soybean prices invest in land.
A recent report from the Federal Reserve Bank of Chicago says farmland prices increased by 16 percent in 2012 in a five-state region that includes Wisconsin.
The report says that's the third-largest one-year increase since the late 1970s, and it follows a 22-percent increase in 2011. That 22-percent gain was the largest seen in 35 years.
The Milwaukee Journal Sentinel reports that some farmland in Wisconsin is selling for more than $10,000 an acre.
Overall, the state's farmland values increased by 11 percent last year. Gains were greater in Iowa and Illinois, where farmers are growing corn and soybeans for the commodity markets, rather than their own livestock feed.
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