CLINTON, Ind. (WTHI) - Good farm land is worth more these days in Indiana.
Based on this year's agriculture survey, it's up 21 percent.
That's in spite of last summer's severe drought.
That's because much of the farmland value is tied to the average yields for corn crop.
"Last year, even as dry as it was, we had some real late August rains that boosted yields significantly,” said Ed Shew, farmer. "It's based on average yields. And we have seen gradual increase in average yields over the years. And with the better quality varieties, better genetics, they can withstand the droughts we've seen."
Basically, the more good crops you grow over time, the higher your value.
Without any rain in sight, farmers now concerned about bad news around the corner.
"I would very much like rain, yes. We've been a little over three weeks without it and we are starting to see a significant need for rain,” said Shew.
Without any rain, the crop will start reducing their output.
"Rains in August are real critical to them to produce even more yield. Maybe as much as 10 to 15 percent difference between if we didn't have any rain versus getting a couple of real good half inch to 3/4 inch rains over the next couple of weeks,” said Shew.
Crops are starting to show some signs of stress, but not enough to scare growers JUST YET.
"We're not terribly bad off. But yes, rain would be helpful,” said Shew.
After fighting last year's extreme drought, farmers are a little tentatively optimistic about this year's harvest.
"180 degrees from last year. We're looking at pretty good yields,” said Shew.
Thus, increasing the value of their land and keeping farmers in the green.
Farmland values also rose in Illinois. They're looking at a 17 percent increase.
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