The value of North Dakota cropland declined 9% in 2015 compared to a year earlier, according to the North Dakota Chapter of the American Society of Farm Managers and Rural Appraisers (ASFMRA). That decrease is based on the chapter’s state cropland index, which gives equal weight to all 55 reporting counties and/or market areas. This year’s 9% decline follows a 1% decrease in 2014. On a regional basis, the northwest/north central posted the smallest decline at 2%, while the other four regions ranged from -9% to -13%.
The survey information is supplied by 37 rural appraiser and farm management professionals, responding to the 19th annual land values survey conducted by the chapter. The survey also includes pasture values as well as cash rents. Click here for the full report.