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AgDay Daily Recap -May 16, 2014

May 16, 2014
 
 

TODAY ON AGDAY

MAY 16, 2014

 

LAND VALUES:

GOOD MORNING I'M CLINTON GRIFFITHS. IT'S SIMPLE ECONOMICS - THE LESS FARM INCOME YOU HAVE, THE LOWER THE LAND VALUES. AND THAT LESSON IS PROVING TRUE IN SOME OF THE KEY AG REGIONS OF THE COUNTRY.

CHICAGO:

BREAKING IT DOWN - IN THE CHICAGO DISTRICT, WHICH COVERS THE HEART OF THE CORNBELT, FARMLAND VALUES IN THE DISTRICT EDGED DOWN ONE PERCENT IN THE FIRST QUARTER OF 2014 RELATIVE TO THE FOURTH QUARTER OF 2013. EVEN WITH THE FIRST QUARTERLY DECREASE IN FIVE YEARS, THE YEAR-OVER-YEAR CHANGE IN DISTRICT AGRICULTURAL LAND VALUES MANAGED TO STAY POSITIVE. BUT AT ONE PERCENT, IT'S THE SMALLEST INCREASE SINCE 2009.

ST. LOUIS:

IN THE ST LOUIS DISTRICT - COVERING SOUTHERN ILLINOIS TO NORTHERN MISSISSIPPI - QUALITY FARMLAND PRICES SLIPPED IN THE FIRST QUARTER FROM THE END OF LAST YEAR. BUT COMPARING YEAR TO YEAR, THERE WAS A SEVEN-AND-A-HALF PERCENT GAIN. A MAJORITY OF AG BANKERS IN THIS DISTRICT CONTINUE TO EXPECT FARM INCOME AND FARMLAND VALUES TO DECLINE OVER THE NEXT THREE MONTHS.

KANSAS CITY:

AND IN THE KANSAS CITY DISTRICT - WHICH COVERS THE CENTRAL PLAINS - . EXPECTATIONS OF LOWER PROFITS FOR CROP PRODUCERS HAVE GENERALLY HALTED THE RISE IN CROPLAND PRICES. FOR INSTANCE NON-IRRIGATED FARMLAND DIPPED ONE AND A HALF PERCENT FROM THE PREVIOUS QUARTER. AND IRRIGATED FARMLAND ONLY FIVE A HALF POINT. FOR OUR PARTNERS AT LANDOWNER NEWSLETTER, THE SURVEY RESULTS FROM THE THREE DISTRICTS COME AS NO SURPRISE.

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