Average cropland value in the United States dropped 1% in 2016, the first drop since 2009, USDA NASS reported.
Average cropland value per acre dropped from a high of $4,130 in 2015 to $4,090 in 2016, just below the $4,100 in 2014. The average cropland price in 2009 was $2,640 per acre. In 2006, when corn, soybean and wheat prices began moving higher, the average cropland price was $2,300.
States showing the highest increase in cropland value: Georgia, 7.9%, Oregon, 5%, Washington, 4.9%, Louisiana, 4.8% and Wisconsin, 4.3%.
States showing the greatest decrease in cropland value: Kansas, 7.2%, North Dakota, 6.5%, Nebraska, 4.3%, South Dakota, 5.6% and North Carolina, 3.2%.
The average farm real estate value also fell slightly, to $3,010 per acre in 2016 from $3,020 in 2015.
Average pasture value, though, remained steady at $1,330 per acre.
See more from the report.