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Farmland market on stable ground

An appraiser who specializes in ag land suggests the market is on solid ground.

Jarad Royer with Compeer Financial says while the number of sales has slowed, values are steady.

“Something is going to have to change to move (the market) either direction. I don’t really see bullish or bearish factors right now, I just kind of see going stable for a while.”

He tells Brownfield the farmland market behaved similarly during the last big runup a decade ago.

“We would increase, and then we’d stay stable for several years before something moves the market again.”

Royer is based in west-central Illinois and says the local market peaked in January with a sale around $25,000 an acre.

He made these comments during an upcoming Compeer Appraisal podcast, a content partnership with Brownfield Ag News.

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