Land News
Farmland is an essential resource for American agriculture. As stewards of the land, farmers and ranchers strive to maximize per-acre value while prioritizing soil health, water conservation and wildlife management. A key indicator of the financial health of the farm sector, farmland values can be influenced by commodity prices, land quality and other factors.
The reason for the shift is rooted in financial improvements, according to James Mintert, professor in the Department of Ag Economics at Purdue.
The number of farms in the U.S. is declining while the average farm size increases and land in farms remains relatively constant. Here’s the latest numbers from USDA’s Economic Research Service.
Doug Hensley, President of Hertz Farm Management, says while farmland sales reached highs last year, they recently hit a plateau. Here are three market drivers Hensley encourages producers to consider.
The Missouri Senate on Wednesday backed a plan to amend the state’s foreign land ownership threshold. The bill also includes a provision that would limit foreign countries from acquiring farmland in Missouri by Sept. 1.
The accelerated highs in 2022 don’t look to be hitting the brakes in the first quarter of 2023, according to Jim Rothermich, vice president of Iowa Appraisal.
Total land in farms decreased 1.9 million acres to 893,400,000 acres in 2022 versus 2021. Here is other noteworthy farmland data, courtesy of USDA’s Farms and Land in Farms 2022 Summary.
If cash rent leases are negotiated via auction, Jim Rothermich is seeing prices drawing double – even triple digit gains. In Illinois, prices are up 90% to 120% compared to the previous year.
Record farmland sales stole headlines throughout 2022. Will 2023 be a repeat in market strength?
Much ink and many pixels have been wasted, in my opinion, on rants about people other than U.S. farmers owning farmland. Surprisingly, critics are just as hard on wealthy Americans as foreigners.
For those in agriculture, owning farmland has long been viewed as a symbol of status and wealth. Now, even individuals who don’t farm are jumping on board, looking to buy farmland.