Around the Corn Belt, average farm real estate values are down across most states.
In Iowa, the average price per acre is $7,850, which represents a 1.9 per cent drop from 2015.
In Illinois, the average price per acre is $7,400, a 1.3 per cent decrease from 2015.
Indiana remains unchanged at $7,150 per acre.
Ohio’s average price per acre of farmland is $5,700. That’s down 0.9 per cent from 2015.
Missouri was one of the only states around the Corn Belt to experience increases in land values. Its average price per acre is $3,400, which is up 1.5 per cent from 2015.
The state that experienced the largest increase is Oklahoma. According to the report, farmland is valued at $1,800 per acre, a 5.9 increase from 2015.
Washington also experienced a 5.6 per cent increase from 2015 to $2,850 per acre.
The largest decrease in value happened in Kansas. The current value is about $1,880 per acre, a 7.4 per cent drop from 2015.