Successful Farming's Chuck Abbott reported Thursday that "farmers are on track to harvest some of their largest corn and soybean crops ever, but the ongoing decline in commodity prices is…
U.S. Cropland Value Averaged $5,460 in 2023, Up 8.1 Percent From 2022
In its annual Agricultural Land Values report on Friday, the USDA’s National Agricultural Statistics Service (NASS) indicated that, “The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,080 per acre for 2023, up $280 per acre (7.4 percent) from 2022.”
The NASS update added that, “The United States cropland value averaged $5,460 per acre, an increase of $410 per acre (8.1 percent) from the previous year.”
And Friday’s update also pointed out that, “The United States pasture value averaged $1,760 per acre, an increase of $110 per acre (6.7 percent) from 2022.”
Meanwhile, an update from the NASS Iowa Field Office on Friday stated that, “Cropland cash rent paid to Iowa landlords in 2023 averaged $269.00 per acre according to the USDA, National Agricultural Statistics Service. Non-irrigated cropland rent averaged $269.00 per acre, $13.00 above last year. Irrigated cropland rent averaged $271.00 per acre, $19.00 above 2022. Pasture rented for cash averaged $60.50 per acre, $1.00 above the previous year.”
“Cropland, at $10,100 per acre, was $750 higher than last year. Pasture, at $3,400 per acre, was $100 above last year.”
The NASS Field Office in Minnesota reported Friday that, “Cropland cash rent paid to Minnesota landlords in 2023 averaged $198.00 per acre according to the USDA, National Agricultural Statistics Service. Non-irrigated cropland rent averaged $198.00 per acre, $13.00 above last year. Irrigated cropland rent averaged $215.00 per acre, $15.00 above 2022. Pasture rented for cash averaged $30.00 per acre, $3.00 above the previous year.”
“Cropland, at $6,820 per acre, was $620 higher than last year. Pasture, at $2,100 per acre, was $90 above last year.”
And the NASS Northern Plains Region reported Friday that, “Cropland value [in Nebraska] increased 14% from last year to $6,830 per acre.”
“Irrigated cropland rent averaged $277.00 per acre, $17.00 above last year. Dryland cropland rent averaged $164.00 per acre, $2.00 higher than a year earlier. Pasture rented for cash averaged $27.00 per acre, $1.00 above the previous year,” the report said.
