Farmland Prices Increase

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 Rachel Begle

DES MOINES, Iowa (AP) - A survey report says Iowa farmland prices continued their boom in the past year and have more than doubled since 2008.

The Des Moines Register reports that the survey by the Realtors Land Institute says prices have risen nearly 18 percent since March 2012, to nearly $8,700 an acre. The institute figure was a little more than $4,200 in 2008.

The March figure of nearly $8,700 compares with the Iowa State University farmland price survey through November that showed an average of nearly $8,300 an acre.

Kyle Hansen, of Hertz Farm Management, says the growth is being fed by high corn and soybean prices and the strong worldwide demand for grains.

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