The price of non-irrigated farmland in the Kansas and surrounding states "surged" by 12.9% in the year to the October-to-December period, the US Federal Reserve said.
The pace was twice that the quarter before, and the fastest since the July-to-September period of 2008, the peak of the last rally in farm prices.
Other land types set two year highs in price growth too, of 9.2% for ranchland and 14.8% for irrigated fields.
"District farmland values surged at the end of the year," the Fed's Kansas City bank said, attributing the increase to "robust" demand both from farmers, flush with profits from high crop prices, and investors.
Annual change in farmland values, Kansas and neighbouring statesQ4 2010: 12.9%
Q3 2010: 6.4%
Q2 2010: 4.8%
Q1 2010: 2.8%
Q4 2009: 2.3%
Q3 2008: -1.7%
Source: Federal Reserve Bank of Kansas City. Data for non-irrigated farmland
link: http://www.agrimoney.com/news/us-land-price-surge-provokes-fears-among-bankers--2828.html
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