Iowa farmland values fell 5.4 percent since last September, the first decrease in five years, according to a survey of Iowa farmland realtors.

Lower corn and soybean prices fueled the decrease, according to survey coordinator Kyle Hansen. Both corn and soybean prices are off about $2 per bushel since last summer and crop insurance guarantees for both crops are also significantly lower compared to last year.

"It’s actually a relief to me," said Hansen, an agent with Hertz Real Estate in Nevada. "It shows buyers are looking at...