Values of non-irrigated farm land rose in parts of the U.S. Great Plains and the Rocky Mountains in the first quarter of the year, according to the Kansas City federal reserve bank.
They say the biggest rise in non-irrigated farmland values were in portions of western Missouri.
District wide, the value of non-irrigated farmland rose 19 percent above this time last year.
But they says farmers face rising production costs and an expected drop in crop prices in what the government expects to be record harvests this fall. Ongoing drought conditions and livestock price decline affected first-quarter profitability.,
The district covers ag lenders in Wyoming, Nebraska, Kansas, Oklahoma, Colorado, western Missouri.