Ag real estate specialist on “phenomenal” increase in farmland values

A farm real estate manager says it’s been a wild ride for the farmland market.

Doug Bergemann with Farmers National Company is based in southern Minnesota.

“A phenomenal increase in values in the last year and-a-half, two years.”

He tells Brownfield land values have risen 15 to 30 percent during that time mainly because of strong commodity prices.

“That’s the biggest thing, and up until now, low interest rates. But that’s what is starting to put pressure on values is the rising interest costs.”

Bergemann expects the market to taper off but says there will continue to be strength in high-quality farms. 

Brownfield interviewed Bergemann during the MN Ag Expo in Mankato, Minnesota earlier this month.

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