Top Producer
Fractal pairs farmers wanting to expand their operations with hands-off investors who recognize the value of farmland.
![Ag Economists Monthly Monitor - Ag Economy Outlook - Main Article Image - 09-2023 - WEB[34].jpg](https://assets.farmjournal.com/dims4/default/dcdb1c6/2147483647/strip/true/crop/3500x2338+0+81/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F2023-09%2FAg%20Economists%20Monthly%20Monitor%20-%20Ag%20Economy%20Outlook%20-%20Main%20Article%20Image%20-%2009-2023%20-%20WEB%5B34%5D.jpg)
Ag economists’ view on the ag economy is starting to erode. The September Ag Economists’ Monthly Monitor shows lower commodity prices, concerns about demand and a negative outlook for China’s economy.
There’s a new record farmland sale on the books. After a 15-min. bidding war between two area farmers, the gavel fell at $34,800 per acre, which is $4,800 more than the previous record set in November 2022 in Iowa.
Mortgage interest rates just hit a twenty-year high, topping 7%. High borrowing costs will slowly dampen farmer demand for acres as record land prices mean all but a few will have to borrow some to buy.
While ag loan balances are up, they remain in good shape with delinquency levels low.
During the 2024 Top Producer Summit, Top Producer will recognize remarkable farmers who have taken risks, built thriving businesses and given back to their communities.
China’s GDP growth could possibly drop lower than the U.S. this year. In fact, fewer and fewer sectors are healthy, and only then by direct government intervention.
Legacy Farmland Trust offers landowners a way to preserve and protect their assets for generations to come.
“There are some things that we’ve adopted over the years that really aren’t particularly useful and I think in some cases even detrimental to our performance,” says Dave Mitchell.
Three safety tips to follow near power lines and railroad crossings this fall.