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AGRIBUSINESS: Iowa Farmland Prices Up 20 Percent

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Iowa now has the fifth most expensive farmland in the nation, following a massive price spike this year.

Farmland jumped 20 percent to $8,400-per-acre from 2012 to 2013. This puts Iowa behind only Massachusetts, Rhode Island, Connecticut and New Jersey.

However, 20 percent was not the biggest surge.  North Dakota farmland jumped in price by 36 percent and South Dakota.

The national average increased by 9.4 percent to $2,900-per-acre.