BLOOMINGTON, Ill. — A farm management trade group says Illinois agricultural land values have dropped this year and are likely to stay flat or keep falling.
BLOOMINGTON, Ill. — A farm management trade group says Illinois agricultural land values have dropped this year and are likely to stay flat or keep falling. The Illinois Society of Professional Farm Managers and Rural Appraisers says its annual midyear survey found that the value of high-quality farm land dropped 2.3 percent the first six months of 2009 to $7,200 an acre. Land considered fair quality dropped 5.4 percent to $4,000 an acre. Half of the respondents to the survey of land managers, appraisers and real estate agents say they expect further declines in farmland prices over the next 12 months. A third say they expect prices to hold steady. The organization released the results Friday. ______ Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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