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Published April 19, 2013, 06:23 PM

Land values rising fast

Land prices in North Dakota appear to have peaked. Andy Swenson is a Farm Management Specialist for NDSU and he says in his nearly 30 years at the job he's never seen land prices rise this fast--setting new records.

Land prices in North Dakota appear to have peaked.

Andy Swenson is a Farm Management Specialist for NDSU and he says in his nearly 30 years at the job he's never seen land prices rise this fast--setting new records. Swenson says high yields and market prices have been driving land values.

Swenson: "The reality is that was an exceptional year. It's human nature to look at what happened most recently and figure that is the new norm and take that into the future, which we probably shouldn't do. In the land, probably getting a little too aggressive."

Swenson says crop prices and yields are both expected to be down from 2012, which will result in lower land values.

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