For the first time since 2014, agricultural land values in Nebraska have increased.

According to preliminary results from the University of Nebraska-Lincoln's Farm Real estate Market Survey, ag land values increased 3% over last year's statewide average of $2,650 per acre.

The increase is the first year-to-year jump in price since land values peaked at $3,315 per acre in 2014.

Limited supply of land for sale, strong demand for purchases and disaster assistance payments from the last year drove stability in the market, according to survey participants.

Grazing land and hayland value estimate...