Group Estimates Iowa Crop Land at $11,515/Acre

Bob McArthur, of Marion, harvests soybeans on Neal Horning's farm in Marion on Satuday, Oct. 4, 2008. Horning has been growing soybeans on his farm for 14 years. (Amanda LaRae Larkin/The Gazette)

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By Jay Knoll

DES MOINES, Iowa (AP) - A real estate agents group estimates high quality crop land in Iowa is worth $11,515 an acre.

The Realtors Land Institute, made up of people specializing in farm and land sales, management and appraisal, say the average value is up 9.4 percent from September 2012.

The Des Moines Register reports northwest Iowa had the most expensive land, at $13,387 an acre.

Those surveyed were asked to estimate average values as of March 2013.

The soaring prices are due largely to high prices for commodities, such as corn and soybeans, that have put farmers in position to buy land as well as low interest rates.

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