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Tuesday, March 13, 2018

Minnesota farmland prices drop in 2017

Minnesota farmland prices drop in 2017: Minnesota's farmland prices dropped last year as the agriculture industry continued to face low crop prices and reduced income.

Sales data for fiscal 2017 reported to the Minnesota Department of Revenue and analyzed by the University of Minnesota indicate that the median price per acre was about $4,600, a 5.4 percent decrease from 2016, The Star Tribune reported .

Land values are important to a farmer's equity, said Bruce Peterson, former president of the Minnesota Corn Growers Association.