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Farmland valuations show good growth

Story Created: Nov 16, 2011 at 4:46 PM CDT

Story Updated: Nov 16, 2011 at 4:46 PM CDT

Farmland owners are doing pretty well. The average value of in some Midwestern and Western states has risen 25 percent in the past year.

The Federal Reserve Bank of Kansas City said that bumper crops and strong farm income in northern Plains states, like here in Nebraska, helped push up prices despite drought and flooding.

The Federal Reserve says its third quarter survey of 243 banks showed the largest annual increase in land values since the survey started in 1980.

Of the surveyed region, Nebraska farmland values increased the most with a roughly 40 percent jump over 2010.

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