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Tag Archives: farmland

#CashRent SLIDING IN CENTRAL #ILLINOIS

The average cost of rent per acre in Peoria County was $221 this year, down from $238 in 2014, a recent University of Illinois report indicated. Professional farm managers expect cash rents to continue their downward trend across the state next year, dropping anywhere from $5 to $50 an acre in 2017, according to a survey… read more

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INSTITUTIONAL LAND

In recent months, there’s been increased activity by Wall Street-based investment trusts purchasing Illinois farmland. Dr. Bruce Sherrick told a farm managers’ conference today that the impact of the funds remains small – less than 1.5% of land sales.

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CASH RENT DEFAULTS

Faced with declining profits, some Iowa farmers are defaulting on cropland rents — a largely unheard of move given the intense competition for the state’s fertile farmland and a sign that financial pressure and debt are mounting.

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NO SALE, YET

A 1,448-acre farmland sale in Bloomington Wednesday reportedly hasn’t sold yet, despite a total bid in excess of $15.8 million. Prices for the various tracts ranged from $8,958 to $11,801/acre. The auctioneer says the seller is evaluating options, as reported by the Pantagraph.

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HEAVY RAIN, FLOODS LEAVE ILLINOIS FARM FIELDS SATURATED

Nearly 60% of the state’s topsoil and 40% of subsoil had a surplus of moisture based on a survey of farmers across Illinois, the National Agricultural Statistics Service reported Tuesday. In central Illinois, 44% of topsoil and 25% of subsoil was saturated due to heavy rain and flooding in November and December that has left Illinois… read more

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BIG FARMLAND SALE AHEAD

Descendants of McLean County native David Davis are selling 1,448 acres of his land in an auction set for Jan. 20. During the 19th Century, Bloomington’s David Davis served as presidential campaign manager for Abraham Lincoln, U.S. Supreme Court Justice, executor of Lincoln’s estate and as a U.S. Senator. Along the way, he also became one… read more

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SET-ASIDES IN CHINA

China’s ruling Communist Party has for the first time proposed to let land lie fallow in some areas to ease pressure on exhausted water and land resources while grain stocks are near record levels, state media reported on Wednesday.

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CHINESE PURCHASES

Contrary to reports that Chinese firms were buying or leasing millions of hectares of prime African farmland, Chinese investors have acquired only about 600,000 acres, according to a book published on Monday.

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FARMLAND INVESTORS

The Wall Street Journal reports financial-services giant TIAA-CREF is expected to announce Tuesday that it has raised $3 billion for its second global farmland-investment partnership, exceeding its initial target of $2.5 billion. The fund has lined up investors including the New Mexico State Investment Council and the U.K.’s Greater Manchester Pension Fund.

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ESTATE PLANNING UPDATE

The U.S. Treasury Department is zeroing in on new regulations that would effectively raise the taxable value of assets transferred into family partnerships and LLCs, currently granted a discount, the Wall Street Journal reports. Speculation is that the new rules will be announced in early September. Partnerships and LLCs allow families to tax-efficiently pass on… read more

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