WCCO EYE4 LOGO WCCO Radio wcco-eye-red01, ww color red

Latest News

Fed Says Minnesota Farmland Prices Keep Rising

View Comments
(credit: Jupiter Images)

(credit: Jupiter Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. DeRusha Eats: Brake Bread
  2. Husband And Wife Die 15 Hours Apart
  3. Polk County Sheriff's Deputy Laid To Rest
  4. Como Zoo Animals Visit WCCO
  5. Troops Homecoming Sweetened By Local Girl Scouts

ST. PAUL, Minn. (AP) – Minnesota farmland prices are maintaining their sharp rise, and officials with the Federal Reserve Bank of Minneapolis say the higher prices reflect the strong agricultural economy.

A recent Fed survey of bankers in its five-state area shows that farmers are bidding land prices to new highs, in some cases over $10,000 an acre. While some experts fear land prices could be the next real estate bubble, there’s no sign of a downturn so far.

Fed officials say Minnesota farmland prices at the end of September were about 28 percent higher than a year earlier. Other Midwest states are seeing similar increases.

Joe Mahon, an economist for the Minneapolis Fed, tells Minnesota Public Radio the bankers surveyed attribute the sharp increases to high profits from strong commodity and livestock prices.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus