Land values in Iowa are finally starting to stabilize after falling the last few years. Iowa State University Professor Emeritus Dr. Mike Duffy says the sharp drop in grain prices, especially corn, initially burst the land bubble. However, grain prices, while lower, are also more stable.

He says the reason they’ve plateaued is the lower commodity prices have been factored in and lower input costs have finally started to kick in.

Duffy says however, land prices are still down sharply from their record highs.

He says with a nearly 40-percent drop in net farm income from the highs in 2013 it’s a wonder land values didn’t fall farther, faster.