Land owners and buyers might see another year of declining prices, but values are starting to stabilize coming into 2017.
ProFarmer’s annual LandOwner Survey was released Thursday, showing more farmers think they will see a reduction less than 10 percent. With fewer thinking land will come down more than 10 percent.
Mike Walsten, the editor of LandOwner, said the eastern Corn Belt is trailing the west by a year when it comes to declining values, but he expects to find a floor in the west at the end of 2017 and into 2018.
“We see 30 percent of our audience are willing to step into the land market if the right deal comes along,” said Walsten. “That indicates stability or an opportunity for this land market to stabilize in the next couple of years.
LandOwner also found more farmers are willing to walk away from cash rents.
That story will air Monday on AgDay.
ProFarmer members can view the full results from the annual LandOwner Survey in the newsletter this week.