Will Iowa Farmland Values Continue to Rise?

Abstract

The farmland market and the agricultural economy have seen a remarkable ride over the past year—the world shut down in early 2020 with unprecedented uncertainty and anxiety; however, the agricultural commodity markets and the land market have gained noticeable strength since fall 2020. Record government support, historically low interest rates, and surging agricultural exports led to a near-10% hike in farmland values for almost all Midwestern states.