Associated PressPosted: August 19, 2010

WEST LAFAYETTE, Ind. -- A Purdue University survey of Indiana farmland alues has found that they rose between 4.5 percent and 6.3 percent tatewide over the past year, more than expected.

The report says top-quality farmland averaged more than $5,300 per acre, verage land was valued at about $4,400 per acre and poor-quality land veraged $3,500 per acre.
   

Purdue Extension agricultural economist Craig Dobbins says land values ncreased sharply over the past 12 months when compared with the revious year. He says there was a downward correction last year.

The strongest gains -- as high as 8 percent -- were found in west entral and northeast Indiana.

Higher farmland values give farmers more equity and generally make it asier for them to renew loans.

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