Still plenty of buyers in U.S. farmland market
Nov 27, 2013
Pro Farmer Extra
- From the Editors of Pro Farmer newsletter -
November 27, 2013
Both the House and Senate are on their Thanksgiving break. The Senate returns Dec. 9. The House returns Dec. 2.
When the Senate returns, the list of possible action includes the Department of Defense authorization bill (S 1197), new sanctions on Iran, and US intelligence programs. Also up for possible consideration is a bill to raise the minimum wage and, possibly, a measure to address problems with Affordable Care Act implementation.
The Senate also is set to consider several of President Barack Obama's key nominees, including Janet Yellen to be chairman of the Federal Reserve System and Jeh Johnson to serve as the head of the Department of Homeland Security. Action on these and other nominees will be on Senate Majority Leader Harry Reid's (D-Nev.) recent move to change the Senate's filibuster rule and permit nominees to be approved by a simple majority.
Other possible items for the Senate include a plan to renew Trade Promotion Authority (TPA) and any conference agreements on the FY 2014 budget, the farm bill (HR 2642) rewrite, and the reauthorization of a water infrastructure bill (HR 3080).
Survey: Plenty of willing buyers of land, few sellers
Despite the sharp drop in grain and soybean prices and forecasts for tightening profit margins well past next year, a large portion of Pro Farmer Members say they will be in the market to buy farmland next year.
Our third annual online survey conducted mid-month found 49% of Members answering “yes” to the question, "Are you in the market to buy farmland within the next year?" That is down, but not sharply, from last year’s 55% and is just shy of the 50% mark reported in our 2011 survey.
On the flip side, only 6% say they will be in the market to sell farmland compared to 7.5% last year and 7% in 2011.
Follow Pro Farmer Editor Chip Flory on Twitter: @ChipFlory
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