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Tag Archives: farmland prices

CASH RENTS

This week’s survey on farmland values had good news for cash renting farmers.  For 2017, 50% of respondents said they see up to a $25/acre drop in rents, while another 41% say a $25-$50 decline is likely. No one predicted an increase for 2017.

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FARMLAND VALUES HIT BY LOWER CROP PRICES

Farmland values fell in parts of the Midwest in the third quarter, reflecting a downdraft in the agricultural sector driven by three years of lower-crop prices, according to Federal Reserve reports. The average price of what is known as quality farmland in the St. Louis Fed’s district, which includes parts of Illinois, Indiana and Missouri,… read more

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LAND SALES

Another busy day of farmland auctions across Illinois.  Some Twitter reports: 80 acres near Galva sold for $12,100/acre; 120 acres near Weston went for $8,900, while 322 acres near Lexington sold for $11,200.

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FARM PROGRESS SHOW

Wednesday at the Farm Progress Show hear updates on the farm managers’ land value survey,  IFB President Guebert will unveil the IFB Centennial events timeline, and Allendale will give its latest forecast on the September crop report.

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FARM VALUES

USDA has issued its latest farmland values report.  For Illinois, the average price of farmland dropped only $50/acre to $7650/acre.  Iowa’s value dropped by 6.3%, down to $8200/acre.

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FED OUTLOOK

Cash rents decreased 8% in Illinois and the 7th district for 2015 relative to 2014; this was the largest annual average decrease since 1987, according to the latest Ag Letter from the Chicago Federal Reserve Bank.  The report said the large decline so soon was atypical from historical trends.

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IOWA FARMLAND

An acre of high-quality cropland in Iowa lost $1,737 in value – a 15% decrease – in the past year and a half, according to data from the Iowa Realtors Land Institute. The institute says high-quality cropland was worth an average $9,924 in March, compared to $11,661 in September 2013, when the skid began.

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FARMLAND PRICES

Farmland values declined in parts of the Midwest for the first time in decades last year, reflecting a cooling in the market driven by two years of bumper crops and sharply lower grain prices, according to Federal Reserve reports released last week.

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LAND SALES

An article in today’s Champaign News-Gazette looks at recent land sales, including a sale Tuesday of 160 acres of irrigated farmland for $11,100/acre. Before Tuesday’s sale, Joe Bubon, who handles land auctions for Murray Wise Associates, called the market “a little spotty” this fall.

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LAND UPDATE

169.19 acres in southern McLean County was auctioned this morning brought by investors for $12,600/acre. Last week, nearly 400 acres north of Bloomington was sold for 12,441/acre. However, a Purdue University agricultural economist sees farmland values dropping 5%-10% each of the next three years.

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