Survey: Farmers Have Aggressive Land Buying Plans
Jun 02, 2010
The farmland market is about to get much more active, according to a recent survey of farmer attitudes conducted by Rabobank. The large Dutch firm has conducted its U.S. Farm & Ranch Survey semi-annually since fall of 2008. In it's spring survey the bank discovered "two and a half times more producers plan to purchase, rent or lease new land compared to previous Rabobank U.S. Farm and Ranch Surveys". The number planning to buy new land registered at 15% versus 6% recorded in the previous survey. The bank also notes the current survey is the first to report a significant change in land plans.
Meanwhile the number planning to sell farmland in the next year is also at its highest rate, the survey indicated, at 6%.
Growers most likely to be the most active in the land market were (no surprise) the largest farms -- those with more than $1 million in gross farm income. The suvey found 20% of this group intended to buy while 11% intended to sell.
The bank pointed out the North Central Region "stood out as an active region with 20% of producers intending to buy and 9% intending to sell.
You may access Rabobank's press release here.
You may access the full Rabobank survey here. Note: this is a very large file and may a little time to download.
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