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Farmland market strong heading into fall

A farm real estate specialist says he expects farmland prices to hold firm through the end of the year.

Tim Meyer with Steffes Group tells Brownfield values have increased despite rising interest rates. “We saw a little bit of a dip the first two weeks of August,” he said. “I thought the high had been in, but since we’ve come through that, we have come back to our spring highs.”

He says demand has been strong. “Farm ground only comes for sale sometimes once in your lifetime,” Meyer said. “If it’s something you can work into your cash flow, definitely take a good hard look at it.”

Meyer says the farmland market could swing lower in 2024 if commodity prices remain low.