An annual report from the USDA shows that cropland values continue to increase, and an ag economist says producers should be cautious before buying any land.
Jim Jansen with the University of Nebraska-Lincoln says prices are unlikely to improve anytime soon. “It’s the rising cost of that asset coupled with higher interest rates are a challenge that many operations are going to be facing, and the ability to make that down payment or get favorable terms on their loan are two major considerations operations need to be thinking about.”
He tells Brownfield prices are at an-all time high across the Corn Belt partly due to the parcel’s ability to produce a good crop.
Economist urges caution to farmers looking to buy land, USDA report shows record prices
