,,,,;,,,,;Value of Wisconsin farmland makes big single-year increase

The value of farmland in Wisconsin and the rest of the Upper Midwest has made its largest single-year jump in 30 years.

A report by the Seventh Federal Reserve District says the value of Wisconsin Farmland jumped 17 percent at the end of this year's third quarter, compared to the same time last year.

Frank Friar is an economic development specialist with the Wisconsin Farm Center. He says high market prices for some crops helped drive up land value, "Its income driven and what's driving the income of corn, beans and cash crop hay. I'm sure the ethanol market is doing it, the overseas market is doing it. There's a big demand for our corn, and our beans."

Friar says high farmland values won't be affordable for everyone in the state - that people looking to expand their cash crop production will have an easier time buying land. Friar says farmland values could continue to rise if dairy prices pick up and/or cash crop market prices stay high.

The report from the Seventh Federal Reserve District says Iowa's farmland value grew the most among upper Midwest states - with a 31-percent increase.