Strong farmland prices expected through the summer

An ag economist says farmland values are holding strong across the Corn Belt.

Creighton University’s Ernie Goss tells Brownfield prices have been higher despite weaker grain markets and high interest rates. “Bankers, when you ask them about it, they’re not expecting farmland price growth nearly as strong for the rest of 2023 as they did in the same period last year. But as we talk today, it’s still pretty much moving higher.”

He tells Brownfield it’s currently a seller’s market, but, “That’s becoming less and less true. They’re going to be fewer and fewer buyers as interest rates continue to move higher, particularly in terms of long term interest rates.”

Goss says many farmers have been acquiring land through cash purchases.

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