Report: Minn. farmland prices rise 5.8 percent
A new University of Minnesota study finds that farmland prices rose a modest 5.8 percent last year.
The finding runs counter to reports across rural Minnesota of leaping land values.
Economist Steve Taff says the really high prices that people hear about are happening, but they're not typical.
Other recent studies have shown higher rises in Minnesota farmland prices.
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But Taff's data comes from records on every sale, statewide, through September.
The health and wealth of rural Minnesota is tightly linked to land values. Rising land values also are lifting farm rental rates, which ripple through the food chain.
On the Net: University of Minnesota, Minnesota Land Economics: http://www.landeconomics.umn.edu
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Information from: St. Paul Pioneer Press, http://www.twincities.com