Another rally in farmland prices?

A farm real estate specialist suggests there could be another rally in farmland prices.

Tim Meyer is a site leader and realtor with Steffes Group. “This land market is a long way from going down. We’re steady to even maybe a bump higher between now and the end of the year.”

He tells Brownfield demand has increased. “Folks are still looking for more farm ground. Even though the interest is high, I think it’s still advantageous to buy ground and they’re still looking to pick up another farm.”

And, Meyer says the 2023 harvest could have an impact on land prices in Iowa. “I think there’s some areas of the state that will see a little bit of a rally even on the land price because crops have been so good and folks are taking advantage of that.”

He says some farmers still have a good amount of cash on hand and that’s helping drive the market.

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