One of the frequent questions farm owners ask is, “What’s farmland going to do?”
Farmers tend to ask that question even if they aren’t looking to buy or sell farmland. It’s just one of those questions that goes with farming and ranching. Farmers First Trust does not sell or buy farmland because we are not a land broker or investor, so we aren’t qualified to provide an answer to the question, unfortunately.
Since Farmers First Trust does not broker land sales, we will point you towards several state extension and university reports that have been published in 2020 that can provide some insight into land values. While this is not an exhaustive or complete list, it should provide reference if your farm is located in the geography of the report.
Remember, farmland and farm rent values are local and while the following reports are helpful, they may or may not reflect the value of your specific farm.
Nebraska Land Report
“2020 Nebraska Farm Real Estate Report” by University of Nebraska–Lincoln, Agricultural Economics, Jim Jansen, March 11, 2020 preliminary report can be found here with the final report planned for June of 2020.
Iowa Land Rental Rates Report
“Cash Rental Rates for Iowa 2020 Survey” by Ag Decision Maker, Iowa State University Extension and Outreach, Revised May 2020 can be found here.
Kansas Land Report
“2019 Kansas County-Level Land Values for Cropland and Pasture” published April 2020, Mykel Taylor, K-State Ag Economics, Department of Agricultural Economics, Kansas State University can be found here.
Indiana Land Report
“Farmer Sentiment Plummets as Coronavirus Concerns Rise” by James Mintert and Michael Langemeier, Center for Commercial Agriculture, Purdue University, April 7th, 2020, can be found here.
Texas Land Report
“Rural Land Prices for Texas” Real Estate Center, Texas A&M University.
Alabama Land Report
“Rural Land Prices for Alabama” Real Estate Center, Texas A&M University.
Louisiana Land Report
“Rural Land Prices for Louisiana” Real Estate Center, Texas A&M University.
Mississippi Land Report
“Rural Land Prices for Mississippi” Real Estate Center, Texas A&M University.
Michael Gustafson is a Principal with Farmers First Trust
Farmers First Trust cannot make any warranties of any kind, express or implied, regarding the accuracy, validity, reliability, or completeness of the information contained in the reports referenced in this article. Please contact the authors if you have any questions.